Microsoft-supported company Space and Time Labs has recently introduced the SXT Chain testnet, a blockchain designed specifically for decentralized finance (DeFi) smart contracts supported 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 offers developers a decentralized data source to index data from primary blockchains like Ethereum and ZKsync. By utilizing zero-knowledge proofs, SXT enables data access, query, and verification, allowing developers to leverage data for various purposes. With the help of the Proof of SQL system, SXT facilitates sub-second ZK-proven SQL database queries that can be easily implemented on smart contracts.
This groundbreaking innovation addresses a fundamental limitation in DeFi platforms. Traditionally, lending rates were uniform for all users due to the lack of access to borrower credit history data. However, through SXT’s SQL interface, lending protocols can now connect a wallet’s on-chain loan history to a credit score verified with ZK-proof, resulting in personalized and tailored lending rates.
In order to provide secure and scalable solutions, Space and Time has partnered with ZKsync to support seamless smart contract deployment and launch a ZK rollup within the Elastic Chain ecosystem. The 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, the SXT Chain will integrate with the Chainlink Network to streamline ZK-proof verification. Chainlink Functions will allow developers to directly connect SXT’s ZK-proven data results to their smart contracts, expanding the options for scalable and data-driven smart contracts.
Digital Asset, which is backed by Microsoft venture capital M12 Ventures, is partnering with Microsoft’s AI Innovation Center to advance blockchain technology. Kathleen Mitford, Microsoft’s CVP of Global Industry Marketing, acknowledged the significant role of the SXT Chain in enabling next-generation blockchain solutions.
Currently, the SXT Chain testnet is available for developers and community members. It offers Galxe quests and tools that are essential for building data-intensive decentralized applications based on ZK technology.