Space and Time is a Web3-native data platform that confidently automates business logic using Proof of SQL (patent pending) cryptography. It secured $20 million in strategic funding from top-tier investors led by Microsoft’s M12 fund.
Other investors participating in the round include Framework Ventures, HashKey, Foresight Ventures, SevenX Ventures, Polygon, Blizzard the Avalanche Fund, Stratos, Hash Capital, Coin DCX, and several Web3 communities and angel investors. Space and Time previously raised $10 million in a seed round led by cryptocurrency investment firm Framework Ventures.
” We are delighted to announce strategic support from M12 and Microsoft, and extend our partnership with Chainlink said Nate Holiday, co-founder and CEO of Space and Time.
“We look forward to seeing how Space and Time will automate the business logic of centralized systems and connect it directly to smart contracts,” said Michelle Gonzalez, corporate vice president and global head of M12. “As blockchain technology finds applications in a wide range of industries, Space and Time is laying the groundwork to shape this work in a Web3 environment. M12 is looking forward to taking part in this journey. »
As part of this project, Space and Time will work closely with Chainlink to expand the capabilities of hybrid smart contracts to power the web without trust. The platform will allow blockchain developers to create multi-chain DApps and quickly generate analytics in a decentralized, inexpensive and secure way.
” We are proud to support Space and Time through the project with Chainlink in their mission to build a decentralized data warehouse and bridge the on-chain and off-chain worlds with Chainlink Oracles. With the potential total market for trusted applications running into the billions of dollars, providing foundational infrastructure for Web3 developers is essential to meet this global demand. said Sergey Nazarov, co-founder of Chainlink.
Cryptography at the service of business logic
” We are committed to automating the business logic of this world by connecting smart contracts directly to Space and Time’s data warehouse to enable new advanced use cases in Web3. Space and Time sits at the intersection of on-chain and off-chain data computing and we are excited to work with world-class data partners to build the next generation of data ecosystem for both decentralized applications and enterprises around the world. »
Space and Time brings together on-chain and off-chain data in a trustless environment that enables low-latency transactions and enterprise-scale analytics. The protocol’s decentralized data storage capabilities enable the creation, linking, and querying of immutable and mutable tables with cryptographic guarantees, all within Space and Time’s next-generation data platform.
The funds will be used to accelerate engineering and product development. Over 90% of the funding will be dedicated to the product and adoption of Space and Time.
The availability of familiar enterprise tools that handle volumes of data far greater than the chain’s current capacity is necessary to unlock new use cases for Web3. Space and Time is on a mission to make smart contracts stronger by combining them with the capabilities of enterprise databases through cryptography.
Space and Time will automate the operational logic of centralized systems and tie it directly to smart contracts. As a platform and tools provider, Microsoft is committed to supporting partners and customers with their technology needs, including Web3 scenarios and use cases.
Space and Time will integrate with Microsoft Azure to provide Azure customers with an on-ramp to access, manage and analyze blockchain data. Microsoft Azure’s comprehensive cloud platform and state-of-the-art identity and security capabilities provide a reliable set of services for developing and running Web3 applications in this new age of ubiquitous computing.
We don’t know about you, but on our side, we can’t wait to find out what the future of this project has in store for us and what the impact of this colossal investment will be for Web3. To not miss any details about this exciting project, you can follow Space and Time, M12, chain link and Microsoft on their respective website.
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