DATA Network Surpasses 100 Million Registrations as On-Chain Fees Spike

The DATA Network, an infrastructure project for sourcing and verifying real-world data for artificial intelligence, announced it has surpassed 100 million on-chain data registrations. This key performance metric reflects growing usage of its network, which has translated into a sharp increase in daily revenue from transaction fees.

Coinciding with this milestone, South Korean digital asset exchange Upbit has launched a four-day trading competition for the network's native token, $DATA. The event, running from July 24 to July 27, includes quizzes and trading missions for eligible participants. According to the announcement, the competition is not available to U.S. persons or residents of OFAC-restricted jurisdictions.

Revenue Rises with Network Activity

The DATA Foundation, which supports the network, reported that the increase in registrations has directly impacted its on-chain revenue. Key metrics from the announcement include:

• Daily chain fees have reached thousands of dollars, an increase of over 200x compared to levels from a few weeks prior.
• This surge in activity has reportedly placed the network among the top 20 blockchains by chain fees.

The network's revenue model is based on fees paid in $DATA for each data registration. These registrations create a permanent on-chain record of the data's origin and terms of use via a product called Trace, which is designed to provide AI labs with auditable proof of data provenance.

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Context for AI Data Sourcing

The project's strategy is centered on the growing demand from AI developers for new, high-quality data sources as the utility of publicly available internet data diminishes. The DATA Network aims to provide the infrastructure for licensing and processing human-contributed, real-world data for AI training.

According to the foundation, new registrations are currently running at a rate of three to five million per day. An anchor data contributor, Kled, is processing a backlog of over one billion files, with more than 900 million remaining to be registered on the network.

"Registration count is the KPI we watch most closely, because it is the most direct measure of the Network being used for its actual purpose," said Andrea Muttoni, CEO of The DATA Foundation, in a statement. Public dashboards on platforms like DefiLlama and Blockscout are available for tracking the network's on-chain activity.