TL;DR:
Chainbase, known as the "Databricks of the blockchain world" (valued at $62 billion), is redefining blockchain data infrastructure through AI empowerment.
The project has completed a $15 million Series A funding round led by Tencent and Matrix Partners China, showcasing strong commercial potential.
In terms of AI empowerment, in addition to its self-developed Theia model deeply integrated with Google Gemini, it has also formed strategic partnerships with several leading AI projects such as Vana and Flock.io.
Currently in a critical expansion phase, it is promoting ecosystem development through the Genesis program, AVS mainnet, and other initiatives.
Data usage revenue reached $1.5 million in 2023-2024, far exceeding The Graph's revenue of under $1 million, demonstrating potential on par with benchmark projects like The Graph (FDV $2-3 billion).
Introduction: The Dilemma and New Opportunities of Blockchain Data
In today's rapidly developing blockchain technology landscape, a troubling reality is becoming increasingly apparent: there exists a significant gap between the explosive growth of on-chain data and the effective release of data value. Take Ethereum as an example; its archive node data volume has surpassed 13.5 TB. Within this vast sea of data lies infinite value, yet it remains underutilized due to the difficulties in processing and analysis. How can one navigate this data deluge without losing direction? How can these cold numbers be transformed into valuable insights? These questions are troubling the entire blockchain industry.
Against this backdrop, the rapid advancement of artificial intelligence technology presents exciting prospects for the integration of AI and blockchain. Like a bright beam of light illuminating the path through the data fog, Chainbase's emergence brings new hope to the industry. As an ambitious full-chain data network, Chainbase is attempting to redefine blockchain data infrastructure through revolutionary technological architecture and AI empowerment.
I. Chainbase: Redefining Blockchain Data Infrastructure
When we talk about Chainbase, it cannot be viewed merely as another blockchain data project. Its ambitions extend far beyond that. Through a meticulously designed four-layer architecture, Chainbase is building a true data value transformation engine. From the bottom layer of data accessibility, to the middle execution and consensus layers, and finally to the top co-processing layer, each layer is intricately designed to form a complete data ecosystem.
Notably, its innovative dual-chain technology architecture deserves special mention. By separating the execution layer from the consensus layer, Chainbase has built strong economic security on the AVS foundation supported by EigenLayer. This design not only achieves high throughput and low latency but also significantly enhances network security through a dual-staking model. It’s like equipping the data processing system with double insurance, ensuring both performance and security.
On top of this architecture, one of Chainbase's trump cards is its AI model, Theia. Developed based on Google's DORA model, Theia is not just a simple data analysis tool; it is a truly intelligent assistant that understands blockchain data. It can deeply comprehend the inherent logic of on-chain data and respond through causal reasoning, bringing a qualitative leap to data analysis. Recently, with deep integration with Google Gemini, Theia's capabilities have been further enhanced, allowing users to interact with blockchain data through natural language, significantly lowering the barrier to data access.
Project Links
Official Website: https://chainbase.com/
Discord: https://discord.gg/Chk44r4r
Dune Data Display: https://dune.com/chainbase_labs/chainbase-network
Genesis Event: https://genesis.chainbase.com/
II. Core Competitiveness of Chainbase
In the fiercely competitive blockchain data service sector, what allows Chainbase to stand out? The answer lies in its unique core competitiveness. First is its powerful full-chain data integration capability. Currently, Chainbase has integrated data from over 20 mainstream blockchains, achieving instant synchronization in under 3 seconds. This extensive data coverage and rapid synchronization capability provide a solid data foundation for cross-chain applications.
Even more remarkable is its AI-empowered data processing capability. Through the innovative concept of "manuscripts," Chainbase provides a standardized yet flexible framework for data processing. Each manuscript contains two key components: Schema and Operators, making complex data processing tasks simple and efficient. It’s like providing developers with a powerful toolbox, enabling them to easily tackle various data processing needs.
III. Business Ecosystem and Development Status
3.1 Significant Achievements in Ecosystem Growth
From the latest network data, Chainbase's ecosystem development shows remarkable growth. The number of developers has surpassed 30,550 and continues to grow rapidly. More notably, the daily API call volume has stabilized between 400-600 million, clearly demonstrating the platform's activity and practical application value.
Data Source: https://dune.com/chainbase_labs/chainbase-network
In terms of financial strength, Chainbase has demonstrated strong fundraising capabilities. The $15 million Series A funding completed in July 2024 is particularly significant—Tencent's investment and Matrix Partners China's lead not only provide financial support but also showcase traditional tech giants' strategic recognition of blockchain data infrastructure. The uniqueness of this funding lies in the fact that it is Tencent's only investment in the crypto space in the past year, highlighting Chainbase's unique value in technological innovation and business prospects.
Information Source: https://x.com/ChainbaseHQ/status/1814207617331503601
3.2 Milestone Breakthrough of AVS Mainnet
The launch of the Chainbase AVS mainnet in November 2024 marks a new development phase for the project. From the current operational data, the results are significant:
Total staking amount reached 623,196 ETH, approximately $2.45 billion.
Successfully attracted 20 top operators to join the network.
Deep integration with EigenLayer provides dual security guarantees for the network.
Data Source: https://dune.com/chainbase_labs/chainbase-network
The composition of these operators is quite representative, ranging from established node operator Nethermind to emerging InfStones Enterprise, from specialized institutions to comprehensive service providers, forming a diversified operational network. This diversity not only enhances the network's decentralization but also provides professional support for different types of data processing needs.
3.3 Practical Progress of Theia AI Model
In terms of AI empowerment, Chainbase's Theia model demonstrates stable service capabilities. From usage data, Theia's daily interaction count remains at a relatively stable level, indicating the reliability and practicality of the AI service. Notably, with the integration with Google Gemini, Theia's capabilities have been significantly enhanced, allowing it to better understand and handle complex blockchain data query needs.
Data Source: https://dune.com/chainbase_labs/chainbase-network
3.4 Genesis Program's Ecosystem Activation
The ongoing Genesis program is an important part of Chainbase's ecosystem expansion. Data shows that the number of wallets participating in the program has exceeded 31 million, showing a strong growth trend. This number not only reflects the community's activity but also indicates market recognition and expectations for Chainbase's services.
3.5 Deepening Strategic Cooperation
In terms of ecosystem expansion, Chainbase has adopted an active cooperation strategy:
The collaboration with Carv focuses on data value realization, integrating both parties' data resources to provide users with more comprehensive data services.
The strategic alliance with Gaia emphasizes the practical application of AI, promoting the real-time on-chain data usage in decentralized AI applications.
The deep integration with Google Gemini further enhances the platform's AI capabilities.
These collaborations are not merely resource integrations; they represent deep synergy across multiple levels, including technology, application, and service, building a more open and powerful ecosystem for Chainbase.
3.6 AI/Agent Ecosystem Layout
In the wave of AI and blockchain integration, Chainbase demonstrates comprehensive ecosystem layout capabilities. It has established deep strategic partnerships with several leading AI/Agent projects:
Vana: Developing personalized AI assistants based on Chainbase's data infrastructure, creating a decentralized AI agent ecosystem.
Flock.io: Enhancing social network intelligence using Chainbase's data analysis capabilities to achieve deep insights into user behavior.
Theoriq: Deep collaboration in on-chain data analysis and prediction, providing AI-driven decision support for DeFi trading.
0G: Jointly exploring decentralized AI application scenarios, promoting the democratization of AI.
Aethir: Collaborating on AI model training data processing, providing high-quality training data support.
io: Working together to build a new generation of AI-native application ecosystems, empowering more innovative scenarios.
These collaborations not only reflect Chainbase's core value as an AI data infrastructure but also showcase its leading position in promoting the deep integration of AI and blockchain. By providing high-quality on-chain data support for AI projects, Chainbase is becoming a key link between Web3 and AI.
It is particularly noteworthy that these collaborations are based on Chainbase's unique technological advantages:
Full-chain data integration capability provides rich training materials.
The AI model Theia achieves intelligent understanding of on-chain data.
Deep integration with Google Gemini brings stronger analytical capabilities.
The Manuscript framework allows AI applications to process blockchain data more conveniently.
These advantages collectively form Chainbase's core competitiveness in the AI era and lay the foundation for further expanding its leading position in the AI data infrastructure field.
3.7 Market Value Potential Assessment
From a valuation benchmarking perspective, Chainbase is expected to become the "Databricks of the blockchain world." As a reference, Databricks' latest valuation has reached $62 billion, reflecting the market's high recognition of data infrastructure.
From an industry perspective, the AI sector has performed remarkably in 2024. The overall market cap has grown from $15 billion at the beginning of the year to $70 billion, making it one of the fastest-growing sectors in the crypto industry. AI projects represented by Vana have gained significant market premiums, reflecting investors' high attention and expectations for the AI sector.
Specifically in the niche of on-chain AI data, The Graph ($GRT) and Arkham ($ARKM) are two of the most representative projects, with their fully diluted valuations (FDV) in the range of $2-3 billion. From a fundamental perspective, Chainbase's data usage revenue for 2023-2024 reached $1.5 million, significantly higher than The Graph's revenue of under $1 million. This revenue advantage opens up imaginative space for Chainbase's future valuation.
In the context of AI continuing to lead the bull market and significant sector dividends, Chainbase, as a data infrastructure linking Web2 and Web3, is expected to gain considerable market recognition and valuation support.
IV. Participating in the Chainbase Ecosystem: Opportunities and Challenges
In the Web3 era, seizing early opportunities in quality projects often leads to substantial returns. Currently, the Chainbase ecosystem is in a critical expansion phase, providing unique opportunities for different types of participants. Let’s delve into how to engage with this promising ecosystem.
4.1 Genesis Event: Opening the Door to the Ecosystem
The ongoing Genesis event by Chainbase is an excellent opportunity to enter its ecosystem. The design of this event is quite ingenious, allowing users to deeply experience product features while cleverly linking task completion with potential future equity distribution.
Event Link: https://genesis.chainbase.com/referral?referral_code=BJYYH6GBK
Specifically, participants can accumulate points in the following ways:
First is daily interaction with Theia AI. This is not a simple dialogue test but a real experience of AI capabilities. Users can engage in conversations with Theia on topics such as blockchain data analysis and market trends, earning corresponding points for each effective interaction. Through this process, users can gradually understand the practical application value of AI in blockchain data analysis.
Secondly, community building and operational participation. Chainbase's Discord community has over 180,000 members, serving not only as a platform for information exchange but also as an important venue for community governance. Actively participating in community discussions, assisting new users, and contributing valuable content can all earn corresponding rewards. Notably, Chainbase has also established a dedicated community ambassador program for users in different language regions, providing greater development space for users with cross-cultural communication skills.
4.2 Value Capture Path for Developers
For developers, Chainbase offers not just a development platform but also an opportunity to convert technical expertise into ongoing revenue. This is primarily reflected in the design of the "Manuscript" system. Each manuscript is a standardized data processing solution, similar to the subgraph concept in The Graph, but with more powerful functionality.
When developers create and publish manuscripts, they can earn 15% of the query fees as income whenever users utilize these manuscripts for data queries. The cleverness of this mechanism lies in its realization of the long-tail effect of knowledge monetization. A well-designed manuscript may be reused repeatedly, generating a continuous revenue stream for developers.
More importantly, Chainbase also provides comprehensive development tool support. The recently released Manuscript GUI version greatly simplifies the development process, allowing developers to create, test, and deploy manuscripts through a visual interface. Coupled with the integration of Google Gemini, it is even possible to generate basic data processing logic through natural language descriptions.
4.3 Dual Revenue Model for Operators
For institutions with technical strength and financial reserves, becoming an operator of Chainbase is a great choice. Operators play a key role in the ecosystem, responsible for providing computing resources and maintaining network stability. This contribution can be rewarded in two ways:
First is the data processing fee sharing. As actual providers of computing resources, operators can earn about 80% of the query fee revenue. Considering the continuous growth in demand for blockchain data analysis, this revenue has considerable growth potential.
Secondly, there are staking rewards. Through integration with EigenLayer, operators can use their staked assets for re-staking, earning additional income while ensuring network security. This innovative economic model not only improves asset utilization efficiency but also provides operators with a more stable income source.
4.4 Participation Thresholds and Considerations
While the opportunities are enticing, participants also need to remain vigilant about some key issues. For ordinary users, it is important to be aware of the timeliness of Genesis event points and the uncertainty of future conversion mechanisms. It is recommended to focus on understanding product features and contributing to community building during participation, rather than solely pursuing the quantity of points.
For developers, it is crucial to closely monitor manuscript performance optimization and maintenance costs. A poorly designed manuscript may consume excessive resources, leading to actual earnings falling short of expectations. It is advisable to fully consider scalability and maintenance costs from the early stages of development.
For potential operators, in addition to technical and financial thresholds, long-term operational costs and network stability requirements must also be considered. Becoming an operator means taking on more responsibilities, requiring sufficient strength and determination to maintain service quality.
V. A Clear Understanding of Risks and Challenges
However, while recognizing opportunities, we must also maintain a clear awareness of potential risks. First is the technical risk; as an innovative project integrating AI and blockchain, Chainbase faces challenges in technology integration. Particularly in the training and application of AI models, ensuring the accuracy and stability of the models is an ongoing issue that needs to be addressed.
From a market competition perspective, although Chainbase demonstrates unique advantages, established projects like The Graph have already built a solid market position. The Graph is also making strides toward AI empowerment with recently launched tools like AutoAgora and AgentC. Additionally, Space and Time has proposed new solutions for data credibility through its innovative Proof of SQL technology.
In terms of token economics, although Chainbase has designed a relatively complete incentive mechanism, how to maintain token value stability during the network expansion phase and balance the interests of all parties are issues that need to withstand market testing.
VI. Reflections: Breakthroughs and Limitations
While conducting a comprehensive analysis of Chainbase, we also need to examine this project from a more dialectical perspective. "Decentralization" is an eternal theme in the blockchain field, and this issue is particularly worthy of reflection in Chainbase's architecture. Although the project attempts to achieve decentralization through a dual-chain architecture and multi-party participation, a closer observation reveals that the admission mechanism for the current 20 operators has, in fact, formed a certain degree of centralization. Whether this "limited decentralization" is the best balance between ideals and reality is a question worth exploring.
Regarding AI empowerment, we also need to think calmly: in blockchain data processing, is AI participation necessary at every stage? While Chainbase's Theia model is powerful, traditional database technologies may be more efficient in certain simple data query and processing scenarios. Does over-reliance on AI increase system complexity and uncertainty? These are questions that need to be considered by both the project team and the community.
In terms of data privacy protection, as the scale of data expands and AI models are applied more deeply, how to protect user privacy while providing comprehensive data services becomes increasingly important. Although Chainbase employs multi-layer encryption and permission management mechanisms, the potential risk of data leakage during AI model training still needs to be vigilant.
When comparing Chainbase with mature projects like The Graph, we can see that each has its focus. The Graph has a clear advantage in developer recognition due to its mature subgraph ecosystem and stable market position. In contrast, Chainbase is opening up new avenues through AI empowerment and full-chain data integration. This differentiated competitive landscape reflects the diversified development trend of blockchain data services to some extent.
### Future Outlook: An Infinite Possibility of New Chapters
Looking ahead, the development blueprint of Chainbase is promising. In terms of the technical roadmap, the project plans to further strengthen its AI capabilities, particularly in natural language processing and intelligent analysis. Through deep integration with Google Gemini, Chainbase is expected to achieve a more natural and intelligent data interaction method. At the same time, the project is actively exploring the application of zero-knowledge proof technology, which may bring new breakthroughs in data privacy protection.
In terms of ecosystem expansion, Chainbase is building a more open and diverse ecosystem. By attracting early users and developers through the Genesis program and expanding application scenarios through strategic cooperation with various Web3 projects, these initiatives are paving the way for sustainable ecosystem development. It is particularly noteworthy that as more traditional enterprises begin to pay attention to the value of blockchain data, Chainbase is expected to become an important bridge linking the traditional world with Web3.
The impact on blockchain infrastructure may be the most anticipated aspect. As data volume continues to grow and AI technology advances, data infrastructures like Chainbase will play an increasingly important role in driving the development of the entire industry. It is not just a data service platform but also an important pillar of the future digital economy.
### Conclusion
In this new era where data and AI intertwine, Chainbase, with its unique technological innovations and business model, is redefining the boundaries of blockchain data infrastructure. It has grand visions but also faces real challenges; it showcases outstanding advantages while needing to solve numerous issues. Yet, it is this spirit of seeking development amid challenges and breakthroughs through innovation that gives us a glimpse of a bright future for blockchain data services.
For ordinary users, now is a great time to understand and participate in the Chainbase ecosystem. Whether accumulating points through the Genesis event or deeply experiencing Theia's AI capabilities, we can better understand and grasp this emerging force that is rising. After all, at the intersection of blockchain and AI technology, Chainbase is writing its own legendary story.
And this story has just begun.
About Us
Hotcoin Research, as the core investment research department of Hotcoin, is dedicated to providing detailed and professional analysis for the cryptocurrency market. Our goal is to offer clear market insights and practical operational guidelines for investors at different levels. Our professional content includes the "Play to Earn Web3" tutorial series, in-depth analysis of cryptocurrency industry trends, detailed analysis of potential projects, and real-time market observations. Whether you are a newcomer exploring the crypto field for the first time or a seasoned investor seeking in-depth insights, Hotcoin will be your reliable partner in understanding and seizing market opportunities.
Risk Warning
The cryptocurrency market is highly volatile, and investment carries risks. We strongly recommend that investors conduct investments based on a full understanding of these risks and within a strict risk management framework to ensure the safety of their funds.
Website: https://www.hotcoin.com/
Medium: medium.com/@hotcoinglobalofficial
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
