Hyve, a blockchain infrastructure company, has introduced its new data availability protocol, HyveDA, after operating in stealth mode for over a year.

The company claims HyveDA can achieve a throughput of 1 gigabyte per second, a speed it says is 100 times faster than current data availability solutions on the market, according to a press release shared with crypto.news.

This launch follows a $1.85 million pre-seed funding round led by Lemniscap, with participation from Paper Ventures and Frachtis.

Data availability protocols like HyveDA play a key role in blockchain systems by ensuring that data necessary for decentralized applications is accessible and secure. In decentralized networks, users often need to verify transactions or other actions without relying on a central authority, which can create data bottlenecks.

HyveDA aims to address these challenges by providing a system that can handle large volumes of data more efficiently.

Improved throughput 

The company plans to scale its throughput to 50 GB/s as the network grows, according to the press release. HyveDA is designed to be permissionless, meaning anyone can join the network without needing approval. This aligns with the broader principles of decentralization, which seek to eliminate centralized control over data and transactions.

Hyve’s protocol is also built to handle data-heavy applications, such as artificial intelligence, decentralized order books, and Web3 games requiring significant data processing power. The funds from its recent investment round will be used to expand the company’s team and support partnerships with Layer 2 solutions, decentralized finance platforms, and gaming developers.

HyveDA is part of Symbiotic’s ecosystem, a restacking protocol that provides additional security and flexibility for operators. By combining Symbiotic’s staking model with HyveDA’s high data throughput, the company aims to handle even the most data-intensive blockchain applications.

While the protocol offers promising performance benchmarks, its scalability in real-world environments will be critical to its success.

Source : crypto.news - Oct 17, 2024