The Good Tech Companies - Vana Mainnet Goes Live With $VANA To Power Data As a New Asset Class In Global AI Economy

Episode Date: December 16, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/vana-mainnet-goes-live-with-$vana-to-power-data-as-a-new-asset-class-in-global-ai-economy. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #vana, #chainwire, #press-release, #vana-announcement, #blockchain-development, #evm-compatibility, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. Vana is an EVM-compatible blockchain that enables users to maintain ownership and control over their personal data. Vana's mainnet launch follows the successful testnet phase, which saw over 1.3 million users contributing over 6.5m data points to DataDAOs.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Vanna Maynett goes live with $Vanna to power data as a new asset class in global AI economy, by Chainwire. Georgetown, Cayman Islands, December 16, 2024, Chainwire. During the testnet phase, over 1.3 meters users contributed more than 6.5M data points to train user-owned AI models. VANA, the pioneering network for user-owned data, today announced the launch OFITS mainnet and native dollar VANA token. The launch marks a significant milestone in breaking through the data wall that's limiting AI development while preserving privacy and giving users a stake in the

value their data generates. Developed by Open Data Labs, a San Francisco-based research and technology company born out of the MIT Media Lab, the VANA network is an EVM-compatible blockchain that enables users to maintain ownership and control over their personal data while allowing that data to be used for AI model training through privacy-preserving technologies. The mainnet launch follows Vanna's successful testnet phase, which saw over 1.3 million users contributing over 6.5 meters data points to data DAOs, processing approximately 1.7 million transactions daily. The testnet demonstrated that programmable data ownership is not just possible, but critical at this point in AI development,

says Anna Kazlowska, CEO of Open Data Labs and inventor of VANA greater than. Today's mainnet launch marks a fundamental shift in how data is owned and greater than monetized in the AI era. Users have always legally owned their data, but greater than platforms have captured all the economic value. And most users don't even greater than realize their data is legally theirs. Greater than, Vanna lays the groundwork for a new kind of data economy. One where users can greater than benefit from the AI models they help create, and where developers can finally greater than access the cross-platform datasets needed to build truly powerful AI.

Property greater than rights were the foundation that enabled modern economies to flourish, and in greater than today's digital economy, programmable data rights are the foundation for the greater-than-next generation of AI. The key features of the VANA mainnet will include trustless validation through secure data ingress and trusted execution nodes, granular permissioning allowing users complete control over their data usage, on-chain data provenance tracking how contributed data is applied. Data liquidity pools, DLPs, enabling collective data pooling, governance and monetization via data DAOs. Proof of contribution mechanism ensuring fair rewards for data quality. Staking dollar VANA to data DAOs through data hub. With the network's proof of contribution system,

users can earn by contributing their data to data DAOs, receiving dataset-specific tokens that grant governance rights while maintaining control over how their data are used. These data token scan be traded for $VANA, the network's native currency. The top data DAOs also receive data DAO rewards. Beyond data contributions, user scan earn additional tokens by running nodes, validating transactions, and s-taking to data DAOs. With a total supply of 120 million tokens, DollarVana will serve as the foundation for the network's economic model, enabling governance over network parameters and data usage, staking to secure the network and validate data contributions, incentivization of high-quality data submissions from data usage, staking to secure the network and validate data contributions, incentivization of

high-quality data submissions from data contributors, revenue sharing from AI model development and data usage. Among the data DAOs building on Vanna are DNADAO, addressing privacy concerns around genetic data ownership, and an expansion of the successful Reddit data DAO, which has already demonstrated the potential of community-owned data pools. Read more about Data DAOs on Vanna here. The mainnet launch comes at a crucial time when AI development faces increasing data scarcity, while users seek greater control over their digital footprint. Vanna's solution enables individuals to participate in and benefit from the AI economy while maintaining sovereignty over their data.

As AI hits a data wall and more platforms monetize user data without sharing any upside with users, users deserve to own a stake in the future of AI, says Ardabal, CEO of Vanna Foundation. Greater than the current way we buy and sell private data in Web 2 is broken. Our data is greater than extracted and held for ransom by a few platforms and data brokers. They decide greater than how much our data is worth and the technology it creates. No more, this is greater than just the beginning of a future where we can decide our data's worth and decide greater than what technology it creates. This is the data revolution, users can start staking dollar vana on DataHub here. For more information, users can visit www.vana.org, read our docs, follow us on X, launch a new data DAO.

Media Contact. Media at VANA Foundation. Org about VANA. VANA is the first decentralized network for user-owned data, unlocking data as a new digital asset class. The VANA network consists of an EVM-compatible blockchain, secure personal server environment, and set of native contracts designed for the trustless and secure exchange of user-owned data via data DAOs. The network empowers users to maintain control over their data while participating in the growing AI economy by pooling their data with others and earning rewards for their contributions. MediaKit, Vanna Docs, X, Discord about Vanna Foundation Vanna Foundation is a non-profit entity tasked with ensuring the sustainability and growth of the Vanna ecosystem.

About Open Data Labs Open Data Labs is an independent research company focused on technology to accelerate user-owned data. Open Data Labs created the VANA protocol and provides ongoing core developer services to the VANA Foundation. Contact Nick Vivian VANA Foundation Media at vanafoundation.org. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit hackernoon.com to read, write, learn and publish.