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Syntropy and KYVE are Merging Historical and Real-Time Blockchain Data

By Cryptoray | Synternet | 11 Apr 2024


April 11, 2024 #Case Studies Syntropy & KYVE: Merging Paths in Blockchain Data

Blockchain data exists on what might as well be different planets. Historical data might be on Mars, but real-time data is all the way out on Pluto. For developers, node operators, and data analysts, the integration of real-time and historical data is crucial for blockchain analytics. Whether it's for monitoring transaction volumes over time, analyzing the frequency of NFT trades, or tracking the growth in the number of active wallets, reliable access to a complete data spectrum is essential. And thanks to Syntropy and KYVE joining forces, real-time and historical Web3 data are now readily available to everyone.

 

The Problem

Syntropy and KYVE are addressing several key challenges when it comes to leveraging both historical and real-time blockchain data in a way that is usable, cost-efficient, and reliable.

Historical Data Access

As the number of blockchains expands and the sheer amount of data increases, accessing comprehensive historical data is becoming more difficult. There’s also a lack of incentives to archive this data, leading to reliance on centralized data sources, a scenario starkly at odds with the decentralized ethos of Web3. This also hampers the ability of developers to build richer and more efficient dApps using historical data.

Real-Time Data Access 

Then there’s the challenge of getting live, multichain data on a constant basis. Such services are also mainly centralized under SaaS models. This is costly and often higher latency, lacking the ability for users to dynamically tailor their subscriptions to their shifting live data needs. Builders thus have difficulty creating next-generation dApps that thrive on up-to-the-millisecond, reliable data.

Synchronization Bottlenecks

Initiatives like Ethereum's transition to Proof of Stake and its Decun update, which involves pruning of historical data, underscore the urgency for efficient network synchronization. Prolonged syncing times for new nodes pose risks of making comprehensive network participation or detailed data analysis unfeasible.

Decentralization and Security

High-profile security breaches, such as the Ronin Bridge attack, highlight the necessity for robust, decentralized data sources. Such solutions must ensure reliability while providing an immutable record for various applications, from IBC transfers to NFT market trends.

This collaboration between Syntropy and KYVE targets these challenges to create a cohesive data environment that allows users and builders to access and utilize widespread Web3 data for analytics and other use cases. For instance, comparing metrics like transaction volumes, NFT trades, or wallet activities from different periods becomes possible only when current and past data are integrated.

How Syntropy & KYVE works together.

 

The Solution

Syntropy and KYVE are redefining blockchain data access and analytics by leveraging our technologies to address key challenges in data accessibility, permanence, and usability. This combined approach ensures a comprehensive dataset from block genesis to the present, encapsulating the full spectrum of the Web3 ecosystem.

Live Data Utility

Syntropy’s Data Layer facilitates real-time data delivery, enabling immediate access to live blockchain data streams. This capability is crucial for applications requiring up-to-the-minute data, from dynamic dApps to timely analytics.  

Comprehensive Historical Data

KYVE’s archival system ensures the accessibility of historical blockchain data. By validating and storing data on decentralized platforms like Arweave, KYVE guarantees trustless data permanence, making historical data a public good accessible for reliable, in-depth analytics and dApp development.

By removing traditional barriers and streamlining the complex data landscape, Syntropy and KYVE are paving the way to unlock the full potential of both live and historical blockchain data for analytics, developers, node operators, and beyond.

 

Use Cases

Syntropy and KYVE have also engineered a technical workflow that combines real-time and historical blockchain data for a variety of current and potential use cases.

Here are some of the most widely applicable:

  • Data Stream Integration. Leveraging Syntropy’s real-time data streams and KYVE’s archival capabilities, the collaboration enables a seamless flow of information. This integration is pivotal for applications requiring a historical context to current data, enhancing analytics and enabling comprehensive blockchain exploration.
  • Custom Data Solutions. Through a combination of Syntropy’s delivery system and KYVE’s archival service, developers can now deploy custom data streams. This innovation allows for the creation of tailored solutions addressing specific needs, from analytics platforms to transaction monitoring tools.
  • Block Explorer Enhancement. The partnership enriches block explorer functionality, combining live data with historical records. Users gain an all-encompassing view of blockchain transactions, aiding in decision-making and providing deeper insights into blockchain activities.

 

Specific Scenarios

The comprehensive data framework created by Syntropy and KYVE is also valuable for some of the following scenarios:

  • Analytics Platforms. Developers can now harness integrated data streams for complex analyses, such as comparing NFT trading volumes over different periods or monitoring wallet activity trends. These capabilities require the availability of both live and historical data.
  • Automated Trading Bots. With real-time data access, trading bots can execute transactions more efficiently, while historical data allows for the backtesting of strategies, helping improve accuracy and performance.
  • NFT Marketplaces. By accessing and using comprehensive real-time and historical data, NFT platforms can offer users detailed insights into asset histories and market trends, improving transparency and trust in transactions.
  • Arbitrage Bot Development for DeFi. By leveraging Syntropy’s real-time data streams, including transactions and mempool data, developers can create arbitrage bots that respond swiftly to market opportunities on platforms like Osmosis. Accurate live data and pending transaction insights are critical for gaining a competitive edge in arbitrage. Moreover, developers can backtest strategies using KYVE’s archival of Osmosis transactions and events, providing a historical dataset for performance evaluation and strategy refinement.

Syntropy and KYVE have finally put live and historical blockchain data in the same world, making advanced analytics platforms and the next generation of dApps possible. Whether you’re a developer, node operator, or user, the KYVE + Syntropy collaboration is putting the entire galaxy of blockchain data – both past and present – well within reach. 

 

Learn More

Do you want to learn more about how real-time and historical data are changing Web3? Here’s where to get started:

 

About KYVE

KYVE provides data rollups-as-a-service (DRaaS), streamlining reliable historical data storage, validation, and accessibility to ensure your blockchains and dApps have unmatched scalability and seamless integration with a modular stack. We handle the data, you build the future.

KYVE is backed by blockchains and foundations such as Arweave, Ava Labs, Solana Foundation, Interchain Foundation, Moonbeam, TheGraph, Parity Technologies, Composable Finance, Zilliqa, Mina Foundation, Aurora, and NEAR Foundation.

Join KYVE: Twitter | Discord | Telegram

 

About Syntropy

Syntropy powers modular, interoperable data infrastructure across all major chains. At its core lies the Data Layer, a protocol serving as the customizable execution layer between all blockchains, allowing developers to build composable, use-case-specific, interoperable applications that can execute on any data from any chain.

To learn more about Syntropy, visit the Syntropy websiteTwitterTelegramDiscord or blog.

 

Media Inquiries

Emilis Klybas

Marketing Manager

[email protected]

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Cryptoray
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I am an enthusiast of cryptocurrencies and new technologies. Proud to be Ambassador at Synternet.


Synternet
Synternet

At Synternet, we're driven by the conviction that permissionless, interoperable data will serve as the foundational building blocks not just for Web3, but for the future of the internet itself. It's our mission—our commitment—to transform this vision into reality. By providing modular, interoperable data infrastructure sol It is based on a combination of technologies that includes blockchain, encryption, optimized routing, and an economic model that enables and fosters the deployment of this architecture.

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