The Upcoming Mainnet Will Enable Vana's Vision of Transforming Data Into a New Digital Asset Class by Expanding the Ecosystem of Data Contributors, DataDAOs and Builders
GEORGE TOWN, CAYMAN ISLANDS / ACCESSWIRE / November 20, 2024 / The Vana Foundation announces its incorporation and the upcoming launch of Vana Mainnet, a fundamental building block of the emerging decentralised user-owned data economy.
Developed in partnership with Open Data Labs - a San Francisco-based research and technology company born out of the MIT Media Lab - the Vana protocol makes it possible for users to contribute their private data onchain to projects building the future of AI, transforming it into a new and valuable asset class.
Vana allows individuals to pool, control, and benefit from their data, transforming it into a secure, collectively owned digital asset class. Powered by the VANA token, the network facilitates data validation, governance, and user-driven transactions within a privacy-preserving, permissionless framework.
As AI continues to consume exponentially greater amounts of data, we're hitting a data wall - in other words, we're running out of fresh data to train models, says Art Abal, Managing Director of the Vana Foundation:
"The Vana Mainnet launch will empower users to contribute their platform data to AI models aligned with their values, rather than allowing platforms to siphon all of the value generated by their personal data. This system is transformative for users and developers alike, as users maintain control and earn compensation, while projects get fresh data to train their models."
With Vana, users can take control of their private data and use it securely across the network to unlock its value. For example, users can aggregate their data with others through DataDAOs, data collectives designed to aggregate powerful private datasets that can fuel AI advancements in healthcare, prediction markets, and human behaviour.
By turning personal data into a new asset class onchain, Vana gives users true ownership over the AI models their data creates, and makes dream datasets available for developers, says Anna Kazlauskas, creator of the Vana Protocol:
"Data sovereignty through Vana fundamentally transforms how AI models can be trained and owned. By aggregating data liquidity through DataDAOs, we're breaking down traditional data silos while ensuring users maintain ownership over the AI models their data creates. This opens up an entirely new frontier in AI development where users and developers can accelerate progress together."
Since launching its developer testnet in June 2024, the Vana Network has attracted 1.3 million users, 300+ DataDAOs, and 1.7 million daily transactions, with additional projects actively in development. This milestone underscores the Vana network's potential to scale and drive the adoption of decentralised data economies.
For more on the mainnet's role in the Vana ecosystem, check out the deep dive on our blog here. [LINK]
Media Contact:
Vana Foundation
alexa@vanafoundation.org
About Vana
Vana (vana.org) is the first decentralized network for user-owned data, unlocking data as a new asset class. It 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.
About Vana Foundation
Vana Foundation (www.vanafoundation.org) is a non-profit entity tasked with ensuring the sustainability and growth of the Vana Ecosystem.
About Open Data Labs
Open Data Labs (www.opendatalabs.xyz) 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 Information
Alexa Zhang
PR
alexa@vanafoundation.org
3472063663
SOURCE: Vana Foundation
View the original press release on newswire.com.
