Hyve launches data availability protocol, promises high throughput

Hyve, a blockchain infrastructure company, introduced its new data availability protocol, HyveDA, after operating in stealth mode for over a year.

The company claims that HyveDA can achieve a throughput of 1 gigabyte per second, which is 100 times faster than current data availability solutions on the market, according to a press release shared with crypto.news.

This launch follows a $1.85 million pre-seed funding round led by Lemniscap with participation from Paper Ventures and Frachtis.

Data availability protocols such as HyveDA play an important role in blockchain systems by ensuring that data required for decentralized applications is accessible and secure. In decentralized networks, users often need to verify transactions or other actions without trusting a central authority, which can create data bottlenecks.

HyveDA aims to overcome these challenges by providing a system that can process large volumes of data more efficiently.

Improved efficiency

According to the press release, the company plans to increase transfer speeds to 50 GB/s as the network grows. HyveDA is designed to be permissionless; This means anyone can join the network without needing approval. This is in line with broader decentralization principles that aim to eliminate centralized control over data and transactions.

Hyve’s protocol was also developed to handle data-intensive applications such as artificial intelligence, decentralized order books, and Web3 games that require significant data processing power. Funds from the latest investment round will be used to expand the company’s team and support partnerships with Layer 2 solutions, decentralized finance platforms and game developers.

HyveDA is part of the Symbiotic ecosystem, a restacking protocol that provides operators with additional security and flexibility. Combining Symbiotic’s staking model with HyveDA’s high data throughput, the company aims to manage even the most data-intensive blockchain applications.

Although the protocol offers promising performance benchmarks, its scalability in real-world environments will be critical to its success.