Space and Time Looks to Drive Decentralized Web3 Data Migration

Space and Time unviels its latest data migration technology, Python Data for Jobs to bring seamless data transaction to Web 3 businesses and platforms. 

Robots migrating towards a pink hill.

In an announcement this Wednesday, Space and Time, a firm that describes itself as an AI-powered data warehouse, launched Python Data for Jobs, a data solution to businesses with long-running Python jobs. The solution enables users to leverage Python to extract data from external database sources, transform it, and load it seamlessly on Space and Time, without writing any code. Additionally, the innovation connects to smart contracts, allowing developers to send huge volumes of data in a cryptographically-secure way. 

Python Data for Jobs is currently in beta, and available on the Space and Time Studio

Understanding How Python Data for Jobs works

To understand Python Data for Jobs, you need to be informed about the Proof of SQL product that Space and Time launched on August 2, last year. Simply put, proof of SQL is a product capable of proving that the data returned in applicable queries is accurate and has not been tampered with. The platform verifies this via zero knowledge (ZK) proofs, which generate a SNARK cryptographic proof of query execution, allowing a smart contract to retrieve and process data with SQL in a tamper-proof way.

Sponsored

Python Data for Jobs accelerates this process for businesses with large volumes of data and data streaming in for long periods of time, without writing any code. Essentially, the product leverages Space and Time’s recently launched AI SQL service, Houston, an OpenAI-powered service that allows a user to write a natural language prompt, converts the query into an SQL query and returns the result.

Houston, an AI chatbot available in Space and Time Studio, can generate simple extract, transform and load (ETL) scripts to grab data from source from Web2 databases or Web3 decentralized storage platforms, prep it, and load it into Space and Time. The bot then creates a script that connects to external databases (e.g. PostgreSQL or Snowflake or IPFS) , understands what’s in the database, transforms it, creates tables in Space and Time, and loads one row at a time out of the databases and into Space and Time. All this is done using a simple natural language prompt. 

Querying Data From Space and Time To Smart Contracts

Python Data for Jobs also allows businesses to query data out of Space and Time, process it and send it to a smart contract. While this has been built on several blockchains, the issue remains that Python jobs usually run for a long time. Take for example, a script to calculate the probability that $BTC remains above $40k for the rest of the year, which may take about 20 seconds, following simulations etc. To connect the result on a smart contract, the user needs to verify and approve that the result is tamperproof. While consensus algorithm mechanisms work well for proving fast-running scripts, 20 second is too long, which might see different nodes finishing the task at different times, slowing the process down. 

Sponsored

To curb this, Python for data relies on optimistic security (similar to optimistic rollups) such that  the inputs, outputs, and code itself are all hashed to a major chain. The script is only run once, and if the outcome isn’t as expected, the user can request a proof and Space and Time cryptographically proves what was run. The development team is currently building a ZK proof for Python to enhance the real-time security of Python Data for Jobs. 

Tapping AI for Seamless Data Migration

Similar to querying ChatGPT, Houston will offer businesses a quick and seamless data migration. By simply typing in what you wish the AI chatbot to do and giving it access to the source database, Houston will use the already-built  prompt-to-SQL framework to retrieve information about the database. This is a crucial development for platforms that deal with large volumes of data such as Truflation and dClimate, automating the extraction and transformation of data. 

Python Data for Jobs also introduces complex use cases for decentralized applications in the DeFi space. The product allows users and developers to integrate sophisticated financial models such as predicting price movements or assessing risk factors, in your smart contract with optimistic security. This ensures data is tamperproof, which helps DeFi protocols expand their business logic to more complex ideas, beyond what proof of SQL offers. 

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Tags
Author
Alex Costa

Alex Costa is a crypto writer and investor specializing in researching, analyzing and reporting on promising small-cap projects that are gaining traction in the industry. He has been in crypto since 2018, when he began looking for hidden gems in crypto. Today, he is dedicated to finding the next top performing NFTs and tokens.