KNN3 Network raises $2.4M in seed round to develop a multi-chain protocol for D/App and smart contracts.

KNN3 Network raises $2.4M in seed round to develop a multi-chain protocol for D-App and smart contracts.

KNN3 Network, a Web3 connection aggregator, has released a press statement announcing it has raised $2.4M in a seed round headed by HashGlobal and Liang Xinjun, the former co-founder of Fosun International. Co-founders Yan Xin and Potter Li of ETHsign, together with investors Mask Network, MetaWeb Venture, Eniac Venture, Tess Venture, Stratified Capital, Fundamental lab, Incuba Alpha, Zeuth Venture, Cogitent Venture, Atlas Capital, Impossible Finance, RSS3, and ShowMe, participated in the round. The $2.4M will be used by KNN3 Network to refine their protocols and test their products in the marketplace.

The need for a global answer to interoperability is evident from the problems with siloed data and redundant systems across different platforms. Having faith in the potential of multi-chain connection aggregation and a more inclusive, decentralized future, these investors have decided to back KNN3 Network.

Future of the KNN3 Network

Web3 is built around the paradigm shift from centralized to decentralized application processing, bringing with it Peer-to-Peer transactions and efficient counting of state changes.

Blockchains are based on smart contracts and distributed virtual state machines, therefore decentralized WWW solutions actually return democracy to the Web, as stated by Thomas Yu, Co-Founder of KNN3 Network. But it’s important to continually learning new things about Web3 so that you may come up with fresh and original concepts. Apps can’t work together across platforms and share data without explicit consent. It’s possible, for instance, that Web3’s flywheel won’t be able to get the crypto world rolling. Therefore, it is critical to have a more advanced protocol to boost web3 data reuse. KNN3 Network excels as a protocol for collecting relationships across several chains, making them available to decentralized applications and analytics.

The KNN3 Network: What Is It?

To facilitate social dApps and AI analytics, KNN3 Network offers web3 graph solutions for relational aggregation across various blockchain universes. With community input, it hopes to evolve into a standard for on-chain data cooperation.

“The team is delighted to be a part of the Web3 wave and hope KNN3 Network can begin the ball rolling,” Thomas Yu stated, “The team believes in a relationship establishing meanings by turning users’ footprints into relational connectors that collectively form a vast graph network.”

A web3 dApp developer utilizing KNN3’s high-performance GraphQL can easily obtain the rich data on relationships between web3 users. Through users’ past actions and profiles, the KNN3 Network gathers and combines numerous dimensions of relations.

For a web3 analyst, KNN3 is a convenient one-stop-shop for conducting both structural and relational inquiries. In addition, it offers graph query components in the style of SQL, making it possible to interact with the query services of any BI/analytics platform that supports SQL. In addition, KNN3’s Graph Computing Environment Solutions allow algorithm developers to construct and educate AI/ML algorithms.

Solutions for Cross-Platform, Permission-Free Data Collaboration

Although AI analytics toolkits help individuals leverage data on certain platforms, these solutions tend to operate independently. When these kinds of programs divide up the marketplace, customers have to negotiate a maze of options. As Thomas Yu put it, “the company wants to go ahead without compromising the essential values of crypto, i.e. composability and plug & play,” hence there is a lack of integrated middleware to support more advanced web3 use cases. For data-driven decentralized applications (dApps) on the blockchain, KNN3 Network offers a one-stop shop. KNN3 Network offers a trustless protocol with decentralization-as-a-service (DAAS) and genuine censorship-resistance, in contrast to traditional SocialFi dApps embedded with SaaS (Software as a service).

 Use cases

The current generation of KNN3 Network offers data solutions for web3 dApps, allowing for more social discovery and user agency. In particular, it has helped some dApps improve the value they provide to users by providing them with a fundamental architecture for their on-chain quest systems (Virtual Credential Service for Quest3) and social graphs (MetaMail and Shorum). Users are encouraged to make new connections with only one click thanks to KNN3, which offers a trustless analytic environment for user recommendation algorithms based on real-time on-chain data.

In addition, it offers answers for Algorithm Registry that are compatible with AI. The combination of KNN3’s user-friendly graph database and open algorithms makes it possible for users to pick and choose algorithms on their own and submit their own. KNN3 Network plans to become a data-sharing infrastructure component that supports mix-dApps, SocialFi, open AIs, etc. in the near future.

The Intended Audience

SocialFi, on-chain credit protocols, and web3 campaign tools are the primary focus of KNN3 Network’s permissionless relational aggregating solutions and virtual credential services. The ecosystem tools made available by KNN3 Network allow analytics systems to easily add web3 multi-chain relational data to their existing databases. KNN3 Network’s mission is to equip NFT/DAO/GameFi advocates with the profiling/enabling toolkits they need to bring in more Web3 users and improve the on-ramp experience for those users. With its multi-chain graph solutions, it also enables developers of Web3 dApps to improve the Web3 social experience.

KNN3 Network: An Overview

Social discovery and user agency are fostered by KNN3, a Web3 cross-chain relationship aggregator. In order to facilitate Social d/App and AI analytics, KNN3 Network offers graph solutions for web3 multiverse relational aggregation. KNN3’s long-term goal is to establish itself as a decentralized, community-driven, on-chain data curation protocol.

Royal Seed
Royal Seed is a brand new contributor to Alltechcraft, and his writings focus on cryptocurrency news and platform reviews. We highly suggest keeping up with his most recent writings, since they are both quite insightful and fascinating. (Follow him on [email protected]_nba )