Spice is a new platform for applications as well as data science and machine learning (ML). This high performance web3 data provider offers excellent services. The team built it on the blockchain to offer its users the various benefits of Defi. Getting smart contract and blockchain data is not easy. To achieve this, you must understand the JSON RPC API and the smart contract ABI. Moreover, you must build and operate an archive node and data infrastructure, and manage 10 TB of data. However, Spice will make this process easier for its customers.

With this platform, users will be able to query blockchain data using SQL and receive results in Apache Arrow or JSON for convenient use with applications, libraries or ML. Spice already supports contract data and the Ethereum mainnet blockchain. However, the team plans to include this platform to support many other networks. Solana is likely to be the next to receive support. The team will then add other networks based on customer feedback.

In addition, the company will provide on-chain historical data requests along with support for standard web3 JSON RPC. Users will also be able to use Ethereum tokens and NFT data. While traditional RESTful APIs typically limit results to 100 seconds per page, this project will support Apache Arrow’s vectorized binary format. The latter will allow clients to retrieve millions of rows in a single query.

The company also boasts automated on-chain detection of ERC-20, ERC-1155, and ERC-721 tokens. NFT generation and token-specific real-time datasets.

How does it work?

Technically, any smart contract can create a token. However, the Ethereum Foundation has released a set of common token standards. They help ensure compatibility and composability of the token with other smart contracts before it is created. Tokens and contracts have their own Spice datasets.

Some people use the words token and contract as synonyms. But it is now certain. The Ethereum Foundation says they have specific definitions. A contract (also known as a smart contract) is a program that runs on the Ethereum blockchain. It combines code and data that resides at a specific address on the ETH blockchain. Meanwhile, a token is a cryptocurrency asset. People can use it in blockchain ecosystems for governance, economic or other purposes. A token contract is, in fact, an implementation of a particular token.

Sometimes an entire contract is dedicated to the implementation of one token. In other cases, contract implementations may involve many different tokens, such as the ERC-1155 and ERC-721 standards. The Spice platform supports several major token standards, including ERC-20, ERC-1155, and ERC-721. According to Spice’s definition, a token refers to a contract that implements the token standard. However, the company uses the term “NFT” to refer to logical tokens that exist as part of a contract.

What is SPACE ID and what does it offer?​

SPACE ID is a name service network. The team built this universal platform on BNB Chain. The project aims to seamlessly connect people and give them access to useful information, assets and applications in the world of Defi. This platform has many advantages. It is decentralized, off-chain, and open-source and censorship-resistant.

Today, the Internet has a life of its own, and Defi is a big part of it. The recent Internet boom was largely the result of increased social interactions. People want to be popular and try to achieve this through social platforms. The number of different identity interactions is growing daily. Users display their names on leaderboards, wallets, chat windows and NFT lists. They want to become a brand themselves and interact with people with their own names, not addresses.

However, where there is a demand, there will soon be a supplier. This is how the business world works. Seeing an opportunity, the SPACE ID team decided to offer people what they were looking for, namely their identity in the online space. The company will provide a universal ID that will work across all networks.

How does SPACE ID handle this?

Users have multiple identities nowadays. They use different usernames in different applications and blockchains. And don’t forget your email address, BNB and Solana network address and other information along with your official username.

SPACE ID believes that universal resource identification will help dApps offer much better interoperability and flexibility. Moreover, the company said that its customer’s SPACE ID (SID) will be much more than just a name. This will become their multi-chain identity in the metaverse. As a result, users will be able to trade cryptos, mint NFTs, borrow tokens and buy various items in the future using just one ID.

Additionally, the team stated that the Web3 core is likely to be the gateway between the physical/digital world and decentralized identity in the near future. Therefore, companies will need to find solutions to the problems that existing domain services are currently facing. It is aimed at overcoming various problems and proposing their solutions.

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