Hotcoin Research | Chainbase: AI-Powered All-Chain Data Revolution, Decoding the Next Generation Blockchain Data Infrastructure King

TL;DR:

• Chainbase, as the “Databricks of Blockchain” (benchmark valuation $62 billion), is redefining blockchain data infrastructure through AI empowerment
• The project has completed a $15 million Series A funding round led by Tencent Investment and Matrix Partners China, demonstrating strong business potential
• In terms of AI empowerment, besides self-developed Theia model and deep integration with Google Gemini, strategic partnerships have been established with leading AI projects like Vana and Flock.io
• Currently in a critical expansion phase, driving ecosystem development through multiple initiatives including Genesis program and AVS mainnet
• Data usage revenue reached $1.5 million in 2023–2024, far exceeding The Graph’s sub-$1 million, showing potential to rival benchmark projects like The Graph (FDV $2–3 billion)

Introduction: The Dilemma and New Opportunities in Blockchain Data

In today’s rapidly evolving blockchain technology landscape, a troubling reality is becoming increasingly apparent: there exists a huge gap between the explosive growth of on-chain data and the effective release of data value. Taking Ethereum as an example, its archive node data volume has exceeded 13.5 TB. While these vast amounts of data contain unlimited value, they remain underutilized due to the difficulties in processing and analysis. How can we avoid getting lost in this data flood? How can we transform these cold numbers into valuable insights? These questions are troubling the entire blockchain industry.

Against this backdrop, as artificial intelligence technology advances rapidly, the integration of AI and blockchain shows exciting prospects. Like a bright beam of light, it illuminates the path forward through the data fog. At this crucial moment, the emergence of Chainbase brings new hope to the industry. As an ambitious all-chain data network, Chainbase is attempting to redefine blockchain data infrastructure through revolutionary technical architecture and AI empowerment.

I. Chainbase: Redefining Blockchain Data Infrastructure

When we talk about Chainbase, we cannot view it merely as another blockchain data project. Its ambition extends far beyond that. Through a carefully designed four-layer architecture, Chainbase is building a true data value transformation engine. From the bottom data accessibility layer, through the middle execution and consensus layers, to the top co-processor layer, each layer is precisely designed, collectively forming a complete data ecosystem.

Particularly noteworthy is its innovative dual-chain technical architecture. 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, more importantly, significantly enhances network security through a double staking model. It’s like installing double insurance on the data processing system, ensuring both performance and security.

Above this architecture, one of Chainbase’s trump cards is its AI model Theia. Developed based on Google’s DORA model, Theia is not simply a data analysis tool, but an intelligent assistant that truly understands blockchain data. It can deeply understand 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, greatly lowering the barrier to data access.

Project Links

• Official Website: https://chainbase.com/
• X: https://x.com/ChainbaseHQ
• Discord: https://discord.gg/Chk44r4r
• Dune Data Display: https://dune.com/chainbase_labs/chainbase-network
• Genesis Activity: https://genesis.chainbase.com/

II. Chainbase’s Core Competitiveness

In the highly competitive blockchain data service sector, what enables Chainbase to stand out? The answer lies in its unique core competencies. First is its powerful all-chain data integration capability. Currently, Chainbase has integrated data from over 20 mainstream blockchains and achieved instant synchronization in less than 3 seconds. This broad data coverage and rapid synchronization capability provide a solid data foundation for cross-chain applications.

Even more eye-catching 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 work simple and efficient. It’s like providing developers with a powerful toolbox, enabling them to easily handle various data processing needs.

III. Business Ecosystem and Current Development Status

3.1 Significant Ecosystem Growth

Looking at the latest network data, Chainbase’s ecosystem development shows remarkable growth momentum. The number of developers has exceeded 30,550, with this number continuing to grow rapidly. More notably, the daily API calls have stabilized between 400–600M, 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 demonstrates strong fundraising capabilities. The $15 million Series A funding completed in July 2024 holds special significance — Tencent Investment and Matrix Partners China’s lead investment not only brings financial support but, more importantly, shows traditional tech giants’ strategic recognition of blockchain data infrastructure. What makes this funding unique is that it’s 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 AVS Mainnet Milestone Breakthrough

In November 2024, the launch of Chainbase AVS mainnet marked the project’s entry into a new development phase. Current operational data shows significant results:

• Total staking amount reached 623,196 ETH, approximately $2.45 billion
• Successfully attracted 20 top operators to join the network
• Deep integration with EigenLayer brings double security assurance to the network

Data Source: https://dune.com/chainbase_labs/chainbase-network

The composition of these operators is quite representative, from established node operator Nethermind to emerging InfStones Enterprise, from focused 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 Theia AI Model Implementation Progress

In terms of AI empowerment, Chainbase’s Theia model demonstrates stable service capabilities. From usage data, Theia’s daily conversation count maintains a fairly stable level, showing the reliability and practicality of AI services. Particularly noteworthy is that with Google Gemini integration, Theia’s capabilities have been significantly enhanced, enabling better understanding and processing of complex blockchain data query requirements.

Data Source: https://dune.com/chainbase_labs/chainbase-network

3.4 Genesis Program Ecosystem Activation

The ongoing Genesis program is an important component of Chainbase’s ecosystem expansion. Data shows that the number of wallets participating in the program has exceeded 31 million, showing strong growth momentum. This number not only reflects community activity but also indicates market recognition and expectations for Chainbase services.

3.5 Strategic Cooperation Deepening

In terms of ecosystem expansion, Chainbase has adopted an active cooperation strategy:

• Collaboration with Carv focuses on data value realization, providing more comprehensive data services through integrating both parties’ data resources
• Strategic alliance with Gaia emphasizes AI application implementation, promoting practical applications of real-time on-chain data in decentralized AI applications
• Further strengthened platform AI capabilities through deep integration with Google Gemini

These collaborations are not simple resource integration but deep synergy across multiple levels including technology, applications, and services, 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. Strategic partnerships have been established 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, achieving 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 AI democratization
• Aethir: Collaborating on AI model training data processing, providing high-quality training data support
• io: Working together to build next-generation AI-native application ecology, enabling more innovative scenarios

These collaborations not only demonstrate Chainbase’s core value as AI data infrastructure but also showcase its leading position in promoting deep integration of AI and blockchain. By providing high-quality on-chain data support for AI projects, Chainbase is becoming a key bridge connecting Web3 and AI.

Particularly noteworthy is that these collaborations are all based on Chainbase’s unique technical advantages:

• All-chain data integration capability provides rich training materials
• AI model Theia achieves intelligent understanding of on-chain data
• Deep integration with Google Gemini brings more powerful analysis capabilities
• Manuscript framework allows AI applications to process blockchain data more conveniently

These advantages collectively constitute Chainbase’s core competitiveness in the AI era and lay the foundation for further expanding its leading advantage in AI data infrastructure.

3.7 Market Value Potential Assessment

From a valuation benchmark perspective, Chainbase has the potential to become the “Databricks of blockchain.” As a reference point, Databricks’ latest valuation has reached $62 billion, reflecting the market’s high recognition of data infrastructure.

Looking at industry tracks, AI sector performance in 2024 has been impressive. Overall Market Cap grew 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 received significant market premiums, reflecting investors’ high attention and expectations for the AI track.

Specifically in the AI on-chain data niche, The Graph ($GRT) and Arkham ($ARKM) are two most representative projects, with their fully diluted valuations (FDV) both in the $2–3 billion range. From a fundamentals perspective, Chainbase’s data usage revenue reached $1.5 million in 2023–2024, significantly higher than The Graph’s sub-$1 million level. This revenue advantage opens up imagination space for Chainbase’s future valuation.

Against the backdrop of AI continuing to lead the bull market and track dividends being significant, Chainbase, as data infrastructure connecting Web2 and Web3, is likely to receive considerable market recognition and valuation support.

IV. Participating in Chainbase Ecosystem: Opportunities and Challenges

In the Web3 era, seizing early opportunities in quality projects often brings substantial returns. Currently, Chainbase’s ecosystem is in a critical expansion period, offering unique opportunities for different types of participants. Let’s explore how to participate in this promising ecosystem.

4.1 Genesis Program: Gateway to the Ecosystem

Chainbase’s ongoing Genesis program is an excellent opportunity to enter its ecosystem. The program’s design shows great craftsmanship, not only allowing users to deeply experience product features but also cleverly linking task completion with potential future rights distribution.

Activity Link: https://genesis.chainbase.com/referral?referral_code=BJYYH6GBK

Specifically, participants can accumulate points through the following methods:

First is daily interaction with Theia AI. This is not a simple dialogue test but a real AI capability experience. Users can engage in conversations with Theia on topics like 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.

Second is community building and operational participation. Chainbase’s Discord community has over 180,000 members, serving not only as an information exchange platform but also as an important venue for community governance. Active participation in community discussions, assisting new users, and contributing valuable content can all earn corresponding rewards. Notably, Chainbase has established dedicated community ambassador programs for users from different language regions, providing greater development opportunities for those with cross-cultural communication abilities.

4.2 Developer Value Capture Path

For developers, Chainbase offers not just a development platform but an opportunity to transform technical expertise into continuous income. This is primarily reflected in the design of the “Manuscript” system. Each manuscript is a standardized data processing solution, similar to subgraphs in The Graph but with more powerful functionality.

When developers create and publish manuscripts, they receive 15% of query fees whenever users use these manuscripts for data queries. The ingenuity of this mechanism design lies in its implementation of the long-tail effect of knowledge monetization. A well-designed manuscript may be repeatedly used, bringing continuous income streams to developers.

More importantly, Chainbase also provides comprehensive development tool support. The recently released Manuscript GUI version greatly simplifies the development process, allowing developers to complete manuscript creation, testing, and deployment through a visual interface. Combined with Google Gemini integration, it’s even possible to generate basic data processing logic through natural language descriptions.

4.3 Operators’ Dual Income Model

For institutions with technical strength and financial reserves, becoming a Chainbase operator is a good choice. Operators play a key role in the ecosystem, responsible for providing computational resources and maintaining network stability. This contribution can be rewarded in two ways:

First is data processing fee sharing. As actual computing resource providers, operators can receive about 80% of query fee revenue. Considering the continued growth in blockchain data analysis demands, this revenue stream has considerable growth potential.

Second is staking returns. Through integration with EigenLayer, operators can use staked assets for re-staking, earning additional returns while ensuring network security. This innovative economic model not only improves asset utilization efficiency but also provides operators with more stable income sources.

4.4 Participation Thresholds and Considerations

Although opportunities are attractive, participants need to remain vigilant about several key issues. For regular users, attention should be paid to the time sensitivity of Genesis activity points and uncertainties in future conversion mechanisms. It’s recommended to focus on understanding product features and contributing to community building during participation, rather than purely pursuing point accumulation.

For developers, close attention needs to be paid to manuscript performance optimization and maintenance costs. A poorly designed manuscript may consume excessive resources, leading to lower-than-expected actual returns. It’s recommended to fully consider scalability and maintenance costs in the early development stage.

For potential operators, besides technical and financial thresholds, long-term operational costs and network stability requirements need to be considered. Becoming an operator means taking on more responsibilities, requiring sufficient capability and determination to maintain service quality.

V. Clear Recognition of Risks and Challenges

However, while seeing opportunities, we also need to maintain clear awareness of potential risks. First is technical risk — as an innovative project integrating AI and blockchain, Chainbase faces challenges in technology integration. Particularly in AI model training and application, ensuring model accuracy and stability is an ongoing challenge.

From a market competition perspective, although Chainbase demonstrates unique advantages, established projects like The Graph have already built solid market positions. The Graph is also moving towards AI empowerment through 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 tokenomics, although Chainbase has designed a relatively complete incentive mechanism, how to maintain token value stability during network expansion and balance various interests are issues that need market validation.

VI. Reflection: 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 worth pondering in Chainbase’s architecture. Although the project attempts to achieve decentralization through dual-chain architecture and multi-party participation, deeper observation reveals that the current admission mechanism for 20 operators actually creates a degree of centralization. Is this “limited decentralization” the best balance between ideal and reality? This is a question worth discussing.

Regarding AI empowerment, we also need to think calmly: in blockchain data processing, do all aspects need AI involvement? While Chainbase’s Theia model is powerful, traditional database technology might be more efficient in some simple data query and processing scenarios. Would over-reliance on AI increase system complexity and uncertainty? These are questions that need to be considered by both the project team and community.

In terms of data privacy protection, as data scale expands and AI model application deepens, how to protect user privacy while providing comprehensive data services becomes increasingly important. Although Chainbase employs multi-layer encryption and permission management mechanisms, the risk of potential data leakage during AI model training still needs vigilance.

Comparing Chainbase with mature projects like The Graph, we can see different focuses. The Graph has clear advantages in developer recognition with its mature subgraph ecosystem and stable market position. Meanwhile, Chainbase has opened new tracks through AI empowerment and all-chain data integration. This differentiated competitive landscape somewhat reflects the diversified development trend of blockchain data services.

VII. Future Outlook: A New Chapter of Infinite Possibilities

Looking ahead, Chainbase’s development roadmap is promising. On the technology roadmap front, the project plans to further strengthen AI capabilities, especially in natural language processing and intelligent analysis. Through deep integration with Google Gemini, Chainbase is expected to achieve more natural and intelligent data interaction methods. Meanwhile, the project is also actively exploring the application of zero-knowledge proof technology, which could bring new breakthroughs in data privacy protection.

In terms of ecosystem expansion, Chainbase is building a more open and diverse ecosystem. Through the Genesis program to attract early users and developers, and through strategic cooperation with various Web3 projects to expand application scenarios, these initiatives are paving the way for sustainable ecosystem development. Particularly noteworthy is that as more traditional enterprises begin to pay attention to blockchain data value, Chainbase has the potential to become an important bridge connecting the traditional world with Web3.

The impact on blockchain infrastructure might be the most anticipated aspect. As data volume continues to grow and AI technology advances, data infrastructure like Chainbase will play an increasingly important role in driving overall industry development. It is not just a data service platform, but an important pillar of the future digital economy.

Conclusion

In this new era where data and AI intertwine, Chainbase is redefining the boundaries of blockchain data infrastructure through its unique technological innovation and business model. While it possesses grand visions, it also faces real challenges; while demonstrating outstanding advantages, it still needs to solve numerous issues. However, it is precisely this spirit of seeking development through challenges and breakthroughs through innovation that allows us to see the bright future of blockchain data services.

For ordinary users, now is an excellent time to understand and participate in the Chainbase ecosystem. Whether through accumulating points in the Genesis program or deeply experiencing Theia’s AI capabilities, these experiences enable us to better understand and grasp this emerging force. After all, at the intersection of blockchain and AI technologies, Chainbase is writing its own legendary story.

And this story is just beginning.

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