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Why Shakudo is building a platform for Web3 with Weavechain

Shakudo is announcing that we're entering the Web3 space, with a suite of features aimed to enable the Web3 community as it scales. We've partnered with Weavechain - the data on-ramp to Web3, making it easy to utilize Web3 benefits like immutability, data lineage, data monetization, confidential computing, oracle connections to Web3 natives and more.
May 19, 2022
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Product

Our team has been busy over the past few months. Really busy. Not only with our existing machine learning clients, but with the rapidly growing Web3 side of our business as we scale to serve new customers. We’ve recently seen strong growth of our communities on Twitter and Discord where we’ve seen a substantial amount of new members from the Web 3 community. Still in its infancy, but quickly growing, the Web3 industry is finding itself where AI was 10 years ago - with a great amount of production tooling that’s still difficult to use.

One area in dire need of attention is decentralized infrastructure. Many Web3 vendors seem to have conveniently forgotten that centralizing financial infrastructure is exactly the problem that Bitcoin set out to solve in the first place. While maximizing profits is certainly important for any business, we believe that achieving infrastructure efficiency is not in contradiction to the ethos of Web3 - which is to provide a permissionless and incorruptible form of infrastructure for all.

A quickly growing market, with a lot of fast growing players

Web3 is far from a traditional tech space. We’re seeing a lot of distributed teams composed of just a few members, developing sophisticated applications that tie together concepts from finance, gaming, ownership and more. As they begin to scale, workflow, productivity, and analysis tools are still in their early stages. This means creating solutions is still typically a labor intensive process involving manual data processing, never ending infrastructure configuration and maintenance, and no clear staking infrastructure industry leaders. 

Graph from NewStack.

Blockchain data is difficult to obtain and should be (almost) free

There are actually a lot of great companies that provide access to blockchain data. Unfortunately, most of them provide packages designed specifically for financial firms. These products are designed by vendors who have built out their own blockchain nodes to give their buyers access to highly specified information for analysis.

Understandably, many teams benefit from conveniently repackaged and organized data, but given that blockchain data is openly available, does it really make sense to resell it by volume? At Shakudo we believe that the right tooling for accessing and analyzing blockchain data should be open source - and we’re working on building it. For now, the early versions of our data connectors are available to Shakudo customers within the platform.

Beyond not allowing for the full breadth of data discovery and experimentation, these packages are normally unviable for small, newly formed teams who need to remain agile with the recent crash.

Cloud economics haven’t caught up to Web3

Analyzing blockchain data requires pulling a lot of on-chain data. Our data scientist Mo recently pulled 452GB of on-chain data to analyze bitcoin transactions. Just like AI, Web3 is data and compute heavy, and managed cloud economics can become a barrier. Developing blockchain solutions therefore becomes a venture requiring specialization and careful planning - or a budget that remains centered around cloud infrastructure.

Given that most of the players we’re seeing in the Web3 space are either fast growing  startups, or focused innovation teams within enterprises, it makes sense that this has come up as a barrier to scaling Web3 development.

How we solved this 

We built trustworthy staking infrastructure

Your staking infrastructure needs to be secure, and it can be difficult to tell who is secure in the Web3 space due to how quickly the industry is growing. Companies can be built and promoted in days - giving Web3 teams an understandable fear of commitment.

We built embedded staking infrastructure because our team is built for it. Shakudo was founded by industry leading financial institution data professionals with backgrounds at Amazon, Deloitte, Bank of Montreal, and AT&T. To say we’re focused on your security is an understatement - our careers have been built on it.

Beyond that, Shakudo is well backed by some of the most foremost venture capital firms in North America, including Golden Ventures,, Parade Ventures, Global Founders Capital and more. Our investors chose us because our company is trustworthy, has a bold vision, and is growing quickly.


We’re partnering with Weavechain

Shakudo is announcing a partnership with Weavechain. Weavechain is the data on-ramp to Web3, making it easy to utilize Web3 benefits like immutability, data lineage, data monetization, confidential computing, oracle connections to Web3 natives and more. Weavechain smart hashing technology layers onto existing high performance databases for big data throughput without rip-and-replace, and enables enterprise-secure sharing with a decentralized network of DataDAOs.

All of that to say - by partnering with Weavechain we’re able to extend the end-to-end capabilities of the Shakudo platform to span data across both Web 2 and Web 3. Regardless of where your data is coming from or going to, Shakudo and Weavchain have you covered.

We’re giving you full access to several blockchain nodes

Rather than try to package blockchain node information as private content reserved for well funded teams, Shakudo is building nodes within our platform to democratize Web3 development. Our team has already built out several of the most popular blockchain nodes to provide users with unlimited access, and we’re planning to release three more in the next month.

Beyond that, leveraging our expertise in simplifying workflows for technology teams, we’re able to provide blockchain nodes with no setup, maintenance, or configuration. Using nodes with Shakudo means you’re given a fully managed workspace in minutes.

  • Bitcoin
  • Ethereum
  • Polygon
  • Solana
  • Binance Smart Chain (BSC)
  • Avalanche - coming soon

We’re excited to be bringing these new features to market this month, and as we grow we’re always looking for ways to improve. If you haven’t tried our free sandbox environment (no credit card required), you can sign up for it here. To learn more about our Web3 features and receive a full product demo, please reach out to info@shakudo.io to speak to our team.

Stella is a machine learning researcher experienced in developing AI models for real-life applications. Stella has built machine learning models in natural language processing, time-series prediction, self-supervised learning, recommendation system, and image processing at BMO, Borealis AI, and several startups. Stella has a Ph.D. in geophysical modeling from the University of Münster in Germany.