Verida 2024 Recap: A Year of Private AI and Confidential Compute
We’re proud to share the milestones from 2024, where Verida led the way in building decentralized infrastructure for personal and private AI.
Highlights
• VDA Token: Empowering the private data economy.
• Privacy-Preserving AI: Revolutionizing secure AI experiences.
• Verida DAO: Advancing decentralized governance.
• $5M Funding: Expanding confidential compute capabilities.
• Private Data Bridge: Integrates data from centralized platforms into Private AI.
• Verida AI Agent Kyra: Delivering private AI-driven insights.
• Verida Network Explorer: Enhanced DID management and transparency.
• Devcon 2024: Winning 200,000POL in Polygon POL Rush competition at Devcon 2024.
• Private AI Grants: $30K in VDA supporting developers.
• Grant from Polygon: Strengthening privacy-focused AI solutions.
2023 Ended on a High Note for Verida
On December 28th, 2023, Verida officially launched its Mainnet, marking the debut of the first private, self-sovereign data network tailored for Web3.
- Data Ownership: The launch marked the beginning of a new era of data ownership, empowering users to reclaim control over their personal and private data from the grip of Big Tech.
- Personalized Web3: Verida redefined how personal and private data is securely managed in a decentralized way, enabling developers to access this data (with user consent) to build personalized products and applications.
The Verida Foundation DAO
At the start of 2024, Verida reached a key milestone with the launch of The Verida Foundation DAO, marking an important step toward decentralized governance and innovation in privacy-preserving technology.
The DAO drives community growth through grants, education, and engagement, while advancing self-sovereign data and identity solutions, including AI innovations for secure and personalized experiences.
This milestone underscores our commitment to building a secure, user-centric, and privacy-preserving future for users and builders.
Verida Storage Credit Token (VDA)
Following the Mainnet and Foundation launch, Verida introduced the VDA Token, the cornerstone of the first private data economy in Web3.
- Data Economy: VDA enabled secure data storage, trusted sharing, and rapid querying across the Verida Network.
- Node Staking: Storage node operators staked VDA to provide storage capacity, secure private data, and earn rewards.
- Utility Token: Users paid for storage using VDA, while node operators earned fees for their services, fostering a sustainable and self-sovereign data network.
In May 2024, VDA was listed on major exchanges, including Gate, MEXC, and Quickswap, further solidifying its role in the decentralized data ecosystem.
After VDA started trading on exchanges, Verida distributed 3.5M VDA tokens across two airdrop campaigns, rewarding contributors.
The 200M VDA tokens were allocated to incentivize sustained network growth over the years.
Technical Litepaper: Privacy-Preserving AI Infrastructure
Verida expanded its mission from a decentralized private data storage solution to supporting privacy-preserving compute, enabling private, encrypted data to be integrated with leading AI models. This ensures end-to-end privacy, safeguarding data from model owners, and paves the way for a new era of hyper-personalized and secure AI experiences.
Verida’s infrastructure integrates Trusted Execution Environments (TEEs) to process data within secure enclaves, ensuring high levels of privacy and security, in collaboration with partners like Marlin, Nillion, and TEN.
Verida’s architecture guarantees that user data remains under their control, with no access granted to infrastructure node operators. By supporting both Stateless and Stateful Compute, Verida enables real-time data processing for AI assistants in a secure, privacy-preserving environment.
Verida’s Confidential Compute Nodes and self-sovereign compute infrastructure ensure secure, private data processing, giving users full control over how their data is stored and processed.
This infrastructure lays the foundation for a secure and scalable AI ecosystem, empowering users to manage and utilize their data safely by providing controlled access to developers. Private Data APIs enable developers to integrate personal and private user data into AI applications and products while ensuring privacy and user consent.
Verida Secures $5M in Funding to Address AI Data Privacy Challenges
Verida raised new strategic funding to expand the network’s capabilities to include confidential compute, ensuring secure data storage and processing while preserving user privacy.
Through collaborations with ecosystem partners like Privado ID, NEAR, Marlin, Nillion, TEN, and zkPass, Verida continues to strengthen its position in Web3, driving innovation in the decentralized and privacy-preserving technology stack.
This milestone empowers Verida to deliver advanced solutions, enabling users to securely store and process their personal and private data while unlocking the transformative potential for private AI applications and beyond.
Verida launches Kyra, a private AI-driven newsletter
Verida has made significant progress in building a private AI ecosystem, highlighted by the launch of blog.verida.ai by Kyra, which provides valuable insights into the importance of Verida’s technology stack. Through the blog, Kyra explores how privacy and AI can coexist to create personalized, ethical, and efficient AI solutions.
Additionally, Kya has hosted the Interview Series, featuring prominent industry leaders like Omar Saadoun from Brainstems, Y J from Cluster Protocol, and Mohammad Iman from Founders Hub Network.
Key insights from these discussions emphasized the rise of specialized AI agents, the critical role of decentralized infrastructures, and the growing potential of personalized AI solutions. These underscore Verida’s position as a leader that helps users and builders enable decentralized and user-centric AI.
With rapidly growing list of influential subscribers, Verida continues to expand its community, sharing these insights and fostering connections.
Verida Unveils the Private Data Bridge
Verida announced the Private Data Bridge, a groundbreaking solution enabling users to securely pull data from various platforms with APIs, including Meta, Google, X, LinkedIn, Dropbox, and more, directly into their private Verida Vault.
This empowers users to integrate their data into hyper-personalized solutions such as AI agents/assistants and unlock future use cases like data marketplaces and other innovative applications.
Stay updated with our Data Connectors Roadmap to track progress and influence development priorities.
Revamped Verida Network Explorer
The updated Verida Network Explorer simplifies managing decentralized identities (DIDs) and provides insights into network activity.
Key Features:
- Identity Control: Manage DIDs, access public documents, and view metadata seamlessly.
- Transparency: Explore node details, distribution, and network performance.
- Developer Tools: Build transparent, decentralized applications with ease.
The Verida Network Explorer empowers users with full control of their digital identity and offers developers the tools needed to create user-focused decentralized solutions.
Empowering Builders on the Verida Network
At Verida, we empower developers to innovate using our infrastructure and privacy-preserving technology stack.
Verida supported developers through initiatives like:
- Verida AI Whitelist: Early access to tools like the Private Data Bridge, enabling seamless integration of user-owned data into private AI applications.
- Private AI Grants: $30,000 in VDA tokens to fund developers building data connectors and expanding the Verida ecosystem.
By providing tools, funding, and support, Verida fosters a builder-first ecosystem, advancing decentralized, privacy-focused technology and AI-driven solutions for secure and personalized user experiences.
Finder Innovation Awards Finalist
Verida was honored as a finalist in the Digital Assets & Web3 Innovation category at the Finder Innovation Awards. This recognition underscores our leadership in privacy-preserving decentralized data storage, providing encrypted, GDPR-compliant solutions that allow users to reclaim their personal and private data from centralized platforms, addressing growing privacy concerns, particularly in the age of AI.
With its global, region-aware design, Verida offers flexible data storage solution, ensuring scalability and compliance across the globe.
Devcon 2024: Winning 200K POL with the Private Data On-ramp for AI
Verida secured second place in the POL Rush Competition at Devcon 2024, hosted by Polygon at the Aggregation Summit in Bangkok, with 200,000 $POL granted. This recognition highlights Verida’s innovative role in connecting Web2 user data with AI agents.
CEO and Co-Founder, Chris Were, presented Verida on the main stage at Devcon, emphasizing our role as the “Private Data On-Ramp for AI” and showcasing how we’re enabling secure, personalized AI experiences.
This achievement underscores Verida’s leadership in providing decentralized infrastructure to enable Private AI, along with our growing partnership with Polygon to drive privacy-first and user-centric AI technologies forward.
Watch Chris Were’s pitch on our YouTube channel.
Looking Ahead
2024 was a groundbreaking year for Verida, driving innovation in decentralized, privacy-focused technology. As we look ahead to 2025, even more exciting milestones await.
The Verida AI solution is currently in private alpha, with many teams around the world integrating ahead of our public launch that will showcase to the world the critical role Verida is playing in the emerging AI landscape.
About Verida Network
A ‘one-click’ AI data platform that lets users securely extract and store data from centralized platforms for personalized AI services with confidential compute. For more information, visit Verida Network and Verida AI.
