Crypto enthusiasts may have heard of the ERC-20-Tok standard, which offers guidelines to ensure that tokens made on the Ethereum Smart Contract are compatible and interact with other tokens and applications within the network.
A similar standard for> Vana, an EVM-compatible layer 1 blockchain that helps users to earn personal data by bundling it in DataDaos for AI modelt training, introduced the new standard early this week to stimulate trust and transparency in the market for digital assets for data.
“To make data markets work, tokens must be reliable, safe and useful. If a universal standard for data-backed tokens, VRC-20 delivers this by providing fair and transparent data tube trade,” Vana announced to X.
The VRC-20 standard design includes specific criteria such as fixed delivery, governance and liquidity rules, while it ensures real data access by binding to the actual data aid program. Moreover, continuous liquidity promotes rewards that guarantee market stability.
“This is not speculation. This is a realization of data,” Vana noted.
Vana launched his mainnet in December, with Vana as his native cryptocurrency. Since then, the network has more than 12 million data points on board multiple dataaos, which reflect a strong demand for data from users owned by users.
Dataadaos or data -liquidity pools are decentralized market places that bring data onchain as transferable digital tokens. DLPs are where data is contributed, tokenized and prepared for use in applications such as AI model training.
Monday’s announcement replaced Vana-emissions such as DataAdao Inventive with a new function that calls DAOS to issue VRC-20-in-conform to receive liquidity support.
In addition, the protocol introduced the release of data validators, whereby Vana holders can lock their coins in data validators instead of individual data.
“Rewards are based on network security and use. Strikers earn in proportion to their contribution to the uptime and the availability of network time and data availability. No more eligible. Income is linked to real network utility and reliability,” said Vana.
The Vana -Token changed owner of $ 5.58 at the time of the press, the lowest in more than two weeks, which extends the decrease of the recent price of $ 8.78 on Binance, according to data source TradingView.
Credit : cryptonews.net
