3 - 4 minute read
Tableland, a decentralized cloud database, has recently raised an $8 million Series A round led by CoinFund, with participation from Multicoin Capital, Blueyard, and A Capital. Tableland allows developers to build complex relational data models for decentralized games, applications or dApps, and non-fungible tokens. The tables in Tableland are on-chain assets that can be grouped into models controlled by customizable authentication or permissions. This latest funding will be used to help support Tableland’s mainnet launch, the release of new developer tools, and the debut of Tableland Studio later this year.
Despite the slowdown in investments within the crypto industry due to the “crypto winter”, infrastructure projects have fared well, especially decentralized data solutions that make it easier for developers to build on the Web2 space. Other notable companies in this space include Space and Time, which recently announced a partnership with Microsoft to make real-time blockchain data available through the tech giant’s Azure Marketplace.
Tableland integrates a battle-tested database into EVM-based smart contracts for the first time, offering a unique value proposition to developers. The ease and familiarity of SQL combined with a network of pre-built, composable data models will make it possible for developers to turn ideas into dApps faster than ever before. The network is currently available in beta on Ethereum, Polygon, Arbitrum and Optimism, with the incentivized testnet planned for the fourth quarter of this year and the production mainnet following in early 2024.
The Decentralized Finance (DeFi) industry continues to grow, with younger companies raising enormous sums of money compared to what was raised in previous years. As Tableland continues to lead the charge towards a new era of decentralized data solutions, traders can expect the asset to be affected positively. Moreover, Tableland’s successful venture could lead to more decentralized data products, increasing the utility and reliability of these solutions.
According to Tableland co-founder Andrew Hill, “the ease and familiarity of SQL combined with a network of pre-built, composable data models will make it possible for developers to turn ideas into dApps faster than ever before.” Tableland’s innovative database solution has the potential to rapidly accelerate the creation and adoption of decentralized applications.
The Bottom Line
With Tableland’s successful funding round, the decentralized cloud database is well-positioned to revolutionize the Web2 space. As the leader in integrating a battle-tested database into EVM-based smart contracts, Tableland is set to make it possible for developers to turn their ideas into dApps faster than ever before. This presents a great opportunity for traders to invest in Tableland and capitalize on its long-term prospects. As decentralized data solutions continue to become more prevalent, the utility and reliability of these solutions will increase, which could foster further growth in the DeFi industry.
