Subspace Network - 4th Generation Friendly Blockchain

What is Subspace Network?

Subspace Network allows developers to run Web3 applications at an Internet scale. It provides a simple interface to quickly deploy multi-chain decentralized applications that can automatically scale on demand. Subspace is powered by an eco-friendly, 4th generation blockchain that allows for scalable on-chain computation and storage without compromising security or decentralization.

The project seamlessly integrates with existing blockchains, layer-2 protocols, and decentralized applications, allowing it to act as an infrastructure layer for the entire Web3 ecosystem. Subspace will empower builders to drive the next wave of crypto adoption by supporting NFT, GameFi, and Metaverse at the Internet scale.

Highlights of The Project

Project Highlight

Subspace is the first PoC blockchain that resolves the farmer’s dilemma, a set of subtle mechanism design challenges which suggest existing PoC blockchains are not actually incentive compatible. The farmer’s dilemma states that in any PoC blockchain a consensus node (farmer) must choose between either maintaining the blockchain state and history or maximizing the amount of space they pledge towards consensus. Rational farmers will always choose the latter, at best becoming a light client, while at worst joining a trusted farming pool. In other words, unlike PoW and PoS networks, there are strong financial incentives to not run a full node, meaning that PoC networks are actually more prone to centralization. PoC is the leading alternative to Proof-of-Work (PoW) and Proof-of-Stake (PoS) based consensus. In a PoC blockchain, compute-intensive mining is replaced with storage-intensive farming. The key benefit is that farming is energy-efficient and environmentally sustainable, while allowing ordinary users to participate in consensus with commodity hardware. Subspace Labs recently closed a $4.5 million seed fundraising round to bring incentive compatible Proof-of-Capacity (PoC) consensus and scalable, permanent decentralized storage to the Polkadot Network. The round was co-lead by Hypersphere Ventures and Stratos Technologies with participation from Consensys Mesh, IOSG, Republic Labs, D1, OKEx Blockdream, Gate Labs, NGC, Candaq, Krypital, Dealean, Cabin VC, and DefinanceX.

Project History

The Subspace Network is an incentive-compatible Proof-of-Capacity blockchain that allows anyone to participate in consensus without buying special hardware, burning electricity, or purchasing a coin. Storage-intensive farming enables the network to scale without sacrificing security or decentralization. This layer-one scalability creates cost-effective permanent storage for various use cases like backing up blockchains, storing NFT metadata, and more. Funded by original research of the US National Science Foundation, the Subspace Network has delivered the third and final milestone of the Web 3 Foundation Open Grant to bring Spartan Proof-of-Capacity (PoC) consensus to Substrate. The Subspace Network plans to launch on a parachain in 2022

Informations

Token Name: Subspace Network.
Ticker: SSC.
Blockchain: Polkadot.
Token Standard: DOT.
Contract: Updating…
Token Type: Updating…
Total Supply: Updating…
Circulating Supply: Updating…
Token utility
SSC will be used to pay for storage and computation fees (gas fees)
Administration of the protocol.
Provide liquidity.
Token Allocation
Updating…

Roadmap
Subspace is still developing, a first public testnet on Polkadot will be released next year.

Project team, investors & partners

Project team
Built by Subspace Labs, a US-based tech startup, with a team spread around the world. Subspace Labs was founded in 2018 by Jeremiah Wagstaff and Nazar Mokrynskyi.

Investors & partners

Subspace Network developer Subspace Labs today announced the completion of a $32.9 million strategic funding round led by Pantera Capital with participation from Coinbase Ventures, Crypto.com, Alameda Research, ConsenSys Mesh, KR1, Hypersphere Ventures, Stratos Technologies, Alumni Ventures Blockchain Fund, GSR Ventures, Eniac Ventures, Bixin Ventures, Definancex, Candaq, Vendetta Capital, Illusionist Group, NGC Ventures, Cabin VC, Gate Ventures, OneBlock Capital and Automota Network.