blockchainreporter.net
Hyve, a pioneer player in the blockchain industry, has announced its data availability solution, HyveDA. This protocol boasts a minimum benchmark of 1 GB/s throughput, outpacing current market standards by an impressive 100 times. Moreover, HyveDA is built on the fundamental principle of “Don’t trust, verify,” aligning with the core values of blockchain technology.
Hyve Aiming for Increased Throughput
HyveDA is set to expand its capabilities as the network matures, targeting a throughput of over 50 GB/s. This ambitious goal is driven by the growing demand for efficient data availability solutions in the decentralized ecosystem. With its unique design, HyveDA intends to accommodate complex applications, including artificial intelligence, decentralized physical infrastructure networks (DePIN), and immersive Web3 gaming experiences.
Recently, Hyve secured a $2 million seed funding round, led by Lemniscap, with contributions from notable investors like Paper Ventures and Frachtis. This financial backing is crucial for expanding the team and enhancing marketing efforts, as Hyve seeks to establish partnerships across Layer 2 solutions, DePIN, decentralized finance (DeFi), and gaming sectors.
Douwe Fassen, CEO of Hyve, emphasized the current struggles infrastructure faces within the Web3 landscape. He highlighted the urgent need for scalable and secure solutions to keep pace with modern applications’ complexity. HyveDA aims to provide the necessary infrastructure, enabling developers to innovate efficiently without latency issues.
Collaboration with Symbiotic
The HyveDA protocol utilizes Symbiotic’s innovative restaking architecture, which offers operators various vaulting and collateral options. This collaboration enhances HyveDA’s high-performance data availability capabilities while ensuring modular staking and shared security.
Felix Lutsch, Head of Ecosystem at Symbiotic, praised HyveDA for its horizontally scalable design, effectively supporting high-throughput decentralized applications. This unique feature positions HyveDA as a crucial player in the quest for robust infrastructure in the rapidly evolving Web3 space.
As Hyve emerges from its stealth phase, it aims to broaden its partnership network while enhancing its support for developers. The latest funding will accelerate Hyve’s mission to meet the increasing demand for secure, scalable, and cost-effective data availability solutions.