Blockchain technology allows for storage and accessibility of rapidly growing amounts of data that is decentralized and user-verifiable. This exciting new technology could also provide a solution for reporting, monitoring and accessing climate data.
KYVE Network is a newly found decentralized archival framework globally accessible to the entirety of Web3. The purpose of the blockchain based technology is to provide the necessary tool to support a globally distributed system for reporting, recording and accessing data on the ecological state of Earth.
KYVE provides a foundation for monitoring, reporting and verification necessary to bring investable climate solutions to market. Climate tech projects that aim to permanently remove emissions from the atmosphere could need the KYVE Network to standardize, validate, and securely store data streams.
“The framework KYVE is building across chains allows developers to collect and categorize data from a truly decentralized environment… Instead of relying on centralized snapshots, KYVE Network is powered by decentralized uploaders and validators, therefore respecting the original web3 ethos,” said Fabian Riewe, co-founder of Kyve.
Streaming and storing data from the blockchain could benefit the projects operating in Web3 by ensuring that historical data is immutable as it’s transparent and verifiable. The network also shared it has had more than 85,000 unique users.
It recently announced it has raised $9 million in a funding round that closed in June 2022. It was led by Distributed Global and valued the company at $100 million. With the new funding, the company plans to build support for more blockchain networks and expand its team.
KYVE Network is a tool that can assist climate tech projects in recording their climate data related to emissions reduced for example or any information that shows what is happening to our earth, our oceans, or our climate.
That data is an indispensable tool in directing investments towards the projects that actually achieve the emissions reductions that we need to create the change the world is looking for.