SXT Chain Testnet Launches at SmartCon, Bringing ZK-Proven Data to Blockchain

Hong Kong – Area and Time Labs, backed by Microsoft and recent off a $20 million Collection A spherical, has launched the SXT Chain testnet – a blockchain constructed to ship zero-knowledge (ZK) confirmed knowledge to good contracts. This innovation guarantees to reshape decentralized finance (DeFi) by offering builders with a robust suite of instruments for creating data-driven, superior good contracts.

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SXT Chain is designed to index knowledge throughout main blockchains, together with Ethereum, ZKsync, and numerous EVM and Transfer chains, and shops this knowledge in a decentralized community of database nodes. Utilizing proprietary Proof of SQL expertise (a ZK coprocessor designed to deal with sub-second SQL queries), builders can now entry, confirm, and join exact knowledge on to good contracts. This method solves a core downside in blockchain expertise: dependable and scalable entry to on-chain knowledge.

For instance, conventional lending depends on credit score scores to find out rates of interest, whereas on-chain lending protocols are compelled to use uniform charges because of the lack of accessible borrower knowledge. SXT Chain’s expertise adjustments that by permitting onchain lending protocols to generate an onchain “credit score rating” based mostly on a pockets’s borrowing historical past.
“From day one, our focus has been on making good contracts smarter by connecting them to a verifiable database. SXT Chain in testnet allows builders to construct extra superior purposes onchain, and we’re excited to advance DeFi along with business leaders like ZKsync and Chainlink.”

Nate Vacation, CEO and co-founder of Area and Time
This rating is verified by ZK-proof and could be entered instantly into a wise contract for a custom-made lending expertise. One mission already using SXT Chain’s capabilities is Lendvest, an onchain credit score scoring protocol that’s a part of the Chainlink BUILD program.

Strengthening the elastic chain ecosystem with ZKsync

In partnership with ZKsync, Area and Time has additionally rolled out a customized ZK Chain throughout the Elastic Chain ecosystem. This ZK rollup serves as SXT Chain’s good contract layer, permitting builders to seamlessly deploy Solidity contracts on SXT and entry native and third-party DeFi apps for staking, funds, and extra.

Alex Gluchowski, co-inventor of ZKsync, commented:
“Area and Time’s ZK Chain contributes to the enlargement of the Elastic Chain ecosystem. The combination aligns with our imaginative and prescient to supply builders with highly effective instruments to soundly scale Web3.”

Alex Gluchowski, co-inventor of ZKsync
SXT Chain’s integration with Chainlink permits builders to make use of the Chainlink community for ZK verification of question outcomes – a cost-efficient answer in comparison with verification on Ethereum. With native integration into Chainlink Capabilities, SXT affords a ZK-proven database that helps the decentralized nature of knowledge supply.

Empower builders with Microsoft Partnership

Backed by Microsoft’s M12 Ventures, Area and Time has collaborated with Microsoft’s AI Co-Innovation Lab to additional speed up its instruments. Kathleen Mitford, Microsoft’s CVP of International Business Advertising and marketing, commented: “Microsoft is dedicated to advancing blockchain and decentralized knowledge options. With Area and Time and Microsoft Azure, we allow builders to construct the following era of blockchain use instances.”

Builders able to combine ZK-proven knowledge into their good contracts can now entry the SXT Chain testnet and take part by finishing quests on Galxe. That is an thrilling alternative to leverage the following stage of blockchain expertise, geared toward unlocking the total potential of DeFi by way of data-driven innovation.

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About house and time laboratories

Area and Time Labs is a frontrunner in decentralized knowledge and zero-knowledge (ZK) expertise and is growing SXT Chain as a breakthrough blockchain for ZK-proven knowledge. Built-in with Area and Time’s Proof of SQL, SXT Chain allows good contracts to work together with on- and off-chain knowledge at scale. Area and Time is backed by Microsoft and companions with the most effective monetary establishments, enterprises and Web3 purposes.