{"id":28871,"date":"2024-12-16T18:41:18","date_gmt":"2024-12-16T18:41:18","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=28871"},"modified":"2024-12-16T18:41:18","modified_gmt":"2024-12-16T18:41:18","slug":"vana-mainnet-goes-live-with-vana-to-power-data-as-a-new-asset-class-in-global-ai-economy","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=28871","title":{"rendered":"Vana Mainnet Goes Live with $VANA to Power Data as a New Asset Class in Global AI Economy"},"content":{"rendered":"

[PRESS RELEASE \u2013 Georgetown, Cayman Islands, December 16th, 2024<\/strong><\/p>\n

During the testnet phase, over 1.3m users contributed more than 6.5m data points to train user-owned AI models. On mainnet, DataDAOs will leverage the $VANA token to enable users to collectively own, monetize and govern their personal data for a stake in the booming AI economy.<\/p>\n

MONDAY, DECEMBER 16 2024<\/strong>\u00a0\u2014 Vana<\/a>, the pioneering network for user-owned data, today announced the launch of its mainnet and native $VANA token. The launch marks a significant milestone in breaking through the data wall that\u2019s limiting AI development while preserving privacy and giving users a stake in the value their data generates.<\/p>\n

Developed by Open Data Labs<\/a> \u2014 a San Francisco-based research and technology company born out of the MIT Media Lab \u2014 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.<\/p>\n

The mainnet launch follows Vana\u2019s successful testnet phase, which saw over 1.3 million users contributing over 6.5m data points to DataDAOs, 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 Kazlauskas, CEO of <\/strong>Open Data Labs<\/strong><\/a> and inventor of Vana<\/strong>:<\/p>\n

\u201cToday\u2019s mainnet launch marks a fundamental shift in how data is owned and monetized in the AI era. Users have always legally owned their data, but platforms have captured all the economic value \u2014 and most users don\u2019t even realize their data is legally theirs!<\/p>\n

\u201cVana lays the groundwork for a new kind of data economy \u2013 one where users can benefit from the AI models they help create, and where developers can finally access the cross-platform datasets needed to build truly powerful AI. Property rights were the foundation that enabled modern economies to flourish \u2013 and in today\u2019s digital economy, programmable data rights are the foundation for the next generation of AI.\u201d<\/p>\n

The key features of the Vana mainnet will include:<\/p>\n

Trustless Validation<\/strong> through secure data ingress and trusted execution nodes
\nGranular Permissioning<\/strong> allowing users complete control over their data usage
\nOnchain Data Provenance<\/strong> tracking how contributed data is applied
\nData Liquidity Pools (DLPs)<\/strong> enabling collective data pooling, governance and monetization via DataDAOs
\nProof of Contributio<\/strong>n mechanism ensuring fair rewards for data quality
\nStaking $VANA <\/strong>to DataDAOs through Data Hub<\/a><\/p>\n

With the network\u2019s proof-of-contribution system, users can earn by contributing their data to DataDAOs \u2013 receiving dataset-specific tokens that grant governance rights while maintaining control over how their data are used. These data tokens can be traded for $VANA, the network\u2019s native currency. The top DataDAOs also receive DataDAO rewards<\/a>. Beyond data contributions, users can earn additional tokens by running nodes, validating transactions, and staking to DataDAOs.<\/p>\n

With a total supply of 120 million tokens, $VANA will serve as the foundation for the network\u2019s economic model, enabling:<\/p>\n

Governance<\/strong> over network parameters and data usage
\nStaking<\/strong> to secure the network and validate data contributions
\nIncentivization<\/strong> of high-quality data submissions from data contributors
\nRevenue Sharing<\/strong> from AI model development and data usage<\/p>\n

Among the DataDAOs building on Vana are DNA DAO, 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 DataDAOs on Vana here<\/a>.<\/p>\n

The mainnet launch comes at a crucial time when AI development faces increasing data scarcity, while users seek greater control over their digital footprint. Vana\u2019s solution enables individuals to participate in and benefit from the AI economy while maintaining sovereignty over their data.<\/p>\n

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 Art Abal, CEO of Vana Foundation:\u00a0<\/strong><\/p>\n

\u201cThe current way we buy and sell private data in Web2 is broken.\u00a0Our data is extracted and held for ransom by a few platforms and data-brokers.\u00a0They decide how much our data is worth, and the technology it creates.\u00a0No more. This is just the beginning of a future where we can decide our data\u2019s worth and decide what technology it creates. This is the data revolution!\u201d<\/p>\n

Users can start staking $VANA on Data Hub here<\/a>. For more information, users can visit www.vana.org<\/a>, read our docs<\/a>, follow us on X<\/a>, launch a new DataDAO<\/a>.<\/p>\n

Media Contact:<\/strong><\/p>\n

media@vanafoundation.org<\/a><\/p>\n

About Vana<\/strong><\/p>\n

Vana<\/a> 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 DataDAOs.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.<\/p>\n

Media Kit<\/a> | Vana Docs<\/a> | X<\/a> | Discord<\/a><\/p>\n

About Vana Foundation<\/strong><\/p>\n

Vana Foundation<\/a> is a non-profit entity tasked with ensuring the sustainability and growth of the Vana ecosystem.<\/p>\n

About Open Data Labs<\/strong><\/p>\n

Open Data Labs<\/a> 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.<\/p>\n

The post Vana Mainnet Goes Live with $VANA to Power Data as a New Asset Class in Global AI Economy<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

[PRESS RELEASE \u2013 Georgetown, Cayman Islands, December 16th, 2024 During the testnet phase, over 1.3m users contributed more than 6.5m data points to train user-owned AI models. On mainnet, DataDAOs will leverage the $VANA token to enable users to collectively own, monetize and govern their personal data for a stake in the booming AI economy. […]<\/p>\n","protected":false},"author":0,"featured_media":28872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-28871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/28871"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28871"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/28871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/28872"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}