Blockchain infrastructure startup Hyve has been working in stealth mode for over a year before revealing its new data availability protocol, HyveDA.Â
According to a press release, the business claims HyveDA can achieve a throughput of 1 gigabyte per second, a speed that is 100 times faster than current data availability solutions on the market.
This announcement comes after a $1.85 million pre-seed funding round that Lemniscap headed and included Paper Ventures and Frachtis.
HyveDA and other data availability protocols are essential to blockchain systems because they guarantee the security and accessibility of data required for decentralized applications.
Data bottlenecks may result from users in decentralized networks having to validate transactions or other actions without depending on a central authority.
With HyveDA, these issues will be resolved by offering a more effective system for managing massive amounts of data.Â
Improved ThroughputÂ
As the network expands, the company intends to extend its throughput to 50 GB/s, per the news release.
Because HyveDA is designed to be a permissionless network, anyone can join without requiring authorization.
This is consistent with the more general decentralization ideas, which aim to do away with centralized authority over information and transactions.
Hyve’s protocol is also designed to manage applications that require a lot of data processing power, such as Web3 games, decentralized order books, and artificial intelligence.
The company plans to grow its workforce and foster collaborations with Layer 2 solutions, decentralized finance platforms, and game developers using the money raised from its most recent funding round.
HyveDA is a component of the Symbiotic ecosystem, a restocking protocol that gives operators more security and adaptability.
With HyveDA’s high data throughput and Symbiotic’s staking approach, the company hopes to handle even the most demanding blockchain applications.
The protocol encourages performance benchmarks, but its capacity to scale in practical settings will be essential to its success.
