In the evolving landscape of blockchain technology, .xyz domains are becoming one of the preferred choices for web3 projects. NFT-to-product platform Vibe.xyz is aimed at helping creators turn NFTs into applications and products via smart contracts. VC firm and DAO Chainforest.xyz aims to revolutionize web3 funding. Collectible trading card platform Alt.xyz offers buying, selling, storing, and borrowing options. In this week’s #BlockchainThursday, we’ll introduce you to a privacy-focused database geared towards providing an affordable decentralized alternative: Polybase.xyz.
Polybase.xyz is the online home of Polybase Labs, a crypto startup on a mission to develop a “fair, accessible, and safe blockchain infrastructure to make the world more equitable.” The startup has been leading the charge in pioneering a private blockchain that addresses the concerns associated with the public nature of blockchain transactions—a significant advancement especially valued by those immersed in the web3 space. In February 2023, Polybase Labs secured $2 million in funding led by 6th Man Ventures to further develop its private blockchain using zero-knowledge technology. As CEO Sid Gandhi indicated in press releases, many web3 developers currently rely on centralized or web2 databases for storing structured data. He stated, “Our vision is to become the default database for web3, enabling developers to build decentralized applications with trustless automation at 1000x lower cost than on-chain storage.”1
At its core, Polybase is a public Ethereum Layer 2 (L2) blockchain enabling private transactions, a feature powered by zero-knowledge proofs. A zero-knowledge proof (ZKP) is a method of proving something to someone without revealing any details about it. As stated on their website, Polybase “has harnessed the power of ZK proofs to provide full-stack decentralization and address critical concerns in the web3 ecosystem. By leveraging separate ZK proofs for different components of the database stack, Polybase achieves an optimal balance between privacy, scalability, and trustlessness.”
Polybase Labs is more than just a single product entity. It has curated a suite of products aimed to complement each other. Here’s a brief overview of the products under the Polybase Labs umbrella:
The mission of Polybase.xyz resonates well with its choice of domain, embodying a forward-thinking stance in the evolving digital landscape. Aspiring to become the default database for web3, Polybase positions itself within the innovative and modern tech vibe represented by the .xyz domain. .XYZ has become the go-to ending for the next generation of internet users, mirroring the progressive ethos of web3 and the decentralized web. By choosing the modern .xyz domain, Polybase.xyz highlights its dedication to leading in the web3 database sector. This choice also reaches a wide, tech-savvy audience eager to explore the latest in internet technology. You can learn more about the platform by joining their Discord, following along on LinkedIn and X (formerly Twitter) @polybase_xyz, and by visiting Polybase.xyz.
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