Verida Network$VDA

What is this network?

Verida is the private data storage layer for the self-sovereign data economy. The first self-sovereign database network for storing private data.

The Verida Network provides secure and private database storage for users to own and control their private data. The network is designed for storing structured private data.

Verida has developed the first private self-sovereign decentralized database storage network and has built a leading mobile wallet that supports zk proofs, crypto, identity, data storage and encrypted messaging.

The Verida Storage Node network is global with a region-aware design. It empowers users to control their data storage location in accordance with their geographic preference to meet data protection regulations such as GDPR or CCPA. It incorporates access controls with flexible encryption and permissioned data synchronization.

How can I mine tokens?

The VDA token serves to coordinate resources in the Verida Network. VDA creates a data economy enabling secure interactions between accounts to facilitate secure data storage, trusted sharing, fast querying and trusted messaging.

The network rewards storage node operators who stake VDA and supply storage capacity, and end users who bring their data onto the network. Users can pay for their own storage needs in VDA. Applications may also pay for storage on behalf of their users.

Learn more about becoming a Storage Node provider here.

Any geographical restrictions?

None

How can I optimize my mining rewards?

The Verida Network creates an open marketplace of infrastructure providers. Anyone can run the Verida infrastructure (storage nodes, messaging nodes etc.) and earn VDA tokens, provided they meet the necessary criteria set by the network.

The Storage Registry is a smart contract, developer library and web application that manages the discoverability, staking, reward distribution associated with providing database storage infrastructure to the Verida Network. It enables:

Storage node operators to:

• Stake VDA tokens to register their storage infrastructure
• Earn VDA tokens based on the volume of active storage capacity being provided and utilized by the network

End users to:

• Deposit VDA tokens to ensure their private data is retained on the network
• Delegate VDA tokens to storage node operators to earn rewards

Validators to:

• Submit issues relating to storage nodes

The smart contract manages slashing of storage node tokens if they fail to meet availability expectations set by the network.

Learn more about becoming a Storage Node provider here.

How can I use the network?

Users The Verida Wallet is a mobile application that acts as both a “Data Wallet” and a “Crypto Wallet” for end users. It provides private key management and a user-friendly interface for interacting with the Verida network and supported blockchains.

The Wallet is the entry point for end users to manage their identity, sign into apps, manage their personal data, send/receive messages and manage blockchain transactions/tokens.

You can view your credentials, messages, and bring your web2 data into your private data storage now.

The Wallet is now available in both the Apple App Store and the Google Play Store.

Builders The Verida protocol is open source and provides toolkits to accelerate developer onboarding. The developer’s toolkit includes:

• Client SDK, an open source typescript implementation of a Verida Network client providing encrypted storage, identity, messaging, and schemas capabilities. It’s an easy-to-use library that abstracts the complexities behind these capabilities, thereby allowing developers to build self-sovereign applications.
• Verida Connect SDK, a decentralized single sign on client library and server API that enables seamless QR code authentication via the Verida Wallet mobile application
• Verifiable Credentials Developer SDK containing all the necessary capabilities to issue, verify and share Verifiable Credentials on the Verida Network
• Vue Components which can be customized to suit the application styles and themes for easy app development
• Demo applications to help developers learn about the Verida protocol and network capabilities.

Developers can try out the Verida APIs directly in their browser using the Verida interactive tutorial, with no download necessary. This tutorial takes a developer through all the capabilities of the Verida Network and empowers them to build decentralized DApps using Verida.

Start building today: Developer Portal

Who governs this network?

The Verida Foundation DAO supports the growth and maturation of the Verida community and ecosystem. It will help moderate the community, issue grants for innovative ideas, drive education and awareness. It will ensure that the Verida Network aligns with its core values and continues to drive technical innovation around self-sovereign data and identity.

Funding

Verida has raised a total of $3.8m in funding since its inception. This includes participation from a number of VCs, funds and angel investors including Gate Labs, Amesten Capital, Capture Alpha, Evan Cheng, Bison Fund, Qwerty Fund, GBV Capital, Launchub, HASH CIB, Whitepaper Capital, O-DE Capital Partners, Polybius Capital, Decision Tree Capital, Sigmoid VC and more.

Read about our seed round raise here. The investment followed Verida’s participation in Coinlist Seed Spring Batch and the Open Web Collective. Verida received grant funding from Open Web Collective and NEAR Foundation in 2022.