Microsoft-supported Space and Time Labs has introduced the SXT Chain testnet, a blockchain for decentralized finance (DeFi) smart contracts that is backed by zero-knowledge (ZK) technology. The SXT Chain aims to enhance data accessibility and provide developers with a versatile data structure and blockchain connectivity.
The SXT Chain allows developers to access and index data from primary blockchains like Ethereum and ZKsync in a decentralized manner. By leveraging zero-knowledge proofs, SXT enables developers to utilize data for various purposes, including data access, querying, and verification. The Proof of SQL system offered by SXT enables sub-second ZK-proven SQL database queries that can be easily implemented on smart contracts.
This innovation addresses a key limitation in DeFi platforms, where lending rates have traditionally been fixed for all users due to the lack of data access on borrower credit history. With SXT’s SQL interface, lending protocols can connect the on-chain loan history of a wallet to a credit score verified with ZK-proof, allowing for more personalized and converted lending rates.
Space and Time is partnering with ZKsync to enable seamless smart contract deployment and launch a ZK rollup within the Elastic Chain ecosystem. This ZK rollup will enable developers to deploy Solidity smart contracts and access decentralized applications (dApps) such as payment handling and staking on top of the SXT Chain. Additionally, SXT will integrate with the Chainlink Network to streamline ZK-proof verification, providing developers with more options for scalable and data-driven smart contracts.
Digital Asset, backed by Microsoft venture capital M12 Ventures, is collaborating with Microsoft’s AI Innovation Center to advance blockchain technology. Kathleen Mitford, Microsoft’s CVP of Global Industry Marketing, recognized the role of the SXT Chain in enabling next-generation blockchain solutions.
The SXT Chain testnet is currently available for developers and community members. It provides Galxe quests and tools that are essential for building data-heavy decentralized applications based on ZK technology.