WINSTON-SALEM, N.C.--(BUSINESS WIRE)--Fluree, provider of an immutable semantic graph data platform, today announced a partnership with Ikigai Technologies to provide comprehensive off-chain data storage for Cardano metadata. The project, termed “Logosphere” is funded as a cohort project of Project Catalyst, Cardano’s community fund allocated through public voting.
Cardano has become the sixth largest cryptocurrency with a market capitalization of more than $88 billion; however, the metadata is not easily accessible to users and other third parties without inspecting every transaction. Until now, no common standard exists for off-chain databases, making it difficult to review metadata for analytics and hindering cross-app data sharing.
Ikigai’s proposal centers around using Fluree to build a provable data-centric sidechain for dApps. Fluree’s immutable graph database has native support for W3C data standards, making it well-suited for this solution. Transaction metadata in Cardano will be expanded beyond the current 16kB limit, and Fluree will provide an API to allow anyone developing dApps to harness a means of storing extended metadata.
“If the on-chain parts of Cardano are immutable, but the off-chain metadata is not, that creates a real trust problem,” said Fluree Co-CEO and Co-Founder Brian Platz. “Fluree and Ikigai Technologies will work together to build a sidechain with the ability to link and share data while ensuring the same degree of trust as the on-chain data.”
Ikigai Technologies will build the project using Fluree’s technology, with a goal of launching the public sidechain in early 2022. Ikigai Technologies CEO Michael Yagi spent years as an engineer at Tableau Software, and other team members have built solutions for Amazon and Microsoft.
Dmitri Safine, CTO of Ikigai Technologies, who spent the last 3 years as a data engineer at Amazon, commented, “I’ve always been fascinated with graph databases and possibilities of building an ecosystem where data coming from different but related apps and domains can be shared and linked together to power data-centric dApps. While trying to figure out a data layer solution for Cardano’s emerging dApp ecosystem, I landed on Brian Platz’s ZDNet podcast about Fluree and got hooked. It turned out to be the start of this exciting journey.”
The teams will collaborate on design with engineers from IOHK, one of the world's pre-eminent blockchain infrastructure research and engineering companies. To learn more, visit logosphere.io.
About Fluree
Founded in 2016 by Brian Platz and Flip Filipowski, Fluree PBC is headquartered in Winston-Salem, North Carolina. Fluree is pioneering a data-first technology approach with its data management platform. For more information, follow Fluree on Twitter or LinkedIn, or visit flur.ee.
About Ikigai Technologies
Named after the Japanese word for one's “reason for being,” Ikigai Technologies is a blockchain technology company founded by Michael Yagi and 4 industry experts specializing in decentralized technologies. Ikigai Technologies leverages new technology stacks to build products that help others find their own “Ikigai.” For more information, follow Ikigai on Facebook, Twitter or LinkedIn, or visit ikigaitech.org.
