Vana Introduces Token Standard for Data-Backed Assets

Protocol: Vana Introduces Token Standard for Data-Backed Assets

Also: Manufacturers are developing ASICs that resemble servers.

Author: Benjamin Schiller Updated April 2, 2025, 9:26 pm Published April 2, 2025, 9:24 pm

Welcome to The Protocol, CoinDesk’s weekly roundup of the biggest stories in crypto tech. My name is Ben Shiller.

In this issue:

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• Vana Launches Token Standard
• Hashgraph to Introduce Private Blockchain
• ASICs are becoming more like servers
• Interview with Ben Fielding of Gensyn

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Network news

VANA’S DATA-BACKED TOKEN STANDARD: Crypto enthusiasts are likely familiar with the ERC-20 token standard, which provides guidelines for ensuring the interoperability of tokens built on the Ethereum smart contract blockchain and their interaction with other tokens and applications on the network. Now, a similar standard for data-backed tokens, called VRC-20, has been introduced. Vana, an EVM-compatible layer-1 blockchain that helps users monetize personal data by pooling it into a DataDAO to train AI models, announced the new standard earlier this week with the goal of increasing trust and transparency in the data-backed digital asset market. The VRC-20 standard includes certain criteria such as a fixed supply, governance, and liquidity rules, ensuring real access to data by tying tokens to the actual utility of the data. Additionally, it promotes ongoing liquidity through rewards, ensuring market stability. “This is not speculation. “This is truly the financialization of data,” Vana noted in X. Vana launched its mainnet in December with VANA as its cryptocurrency. Since then, the network has connected over 12 million data points across multiple DataDAOs, indicating high demand for user-owned data. DataDAOs, or data liquidity pools, are decentralized marketplaces that bring data onto the chain in the form of transferable digital tokens. DLP is where data is brought in, tokenized, and prepared for use in applications like training AI models. — Omkar Godbole Read more.

HASHGRAPH TO DELIVER PRIVATE CHAIN IN Q3: Hashgraph, a blockchain development company focused on the Hedera (HBAR) network, is building a private, permissioned blockchain for businesses in highly regulated industries, with plans to debut in the third quarter of 2025. HashSphere, built using Hedera technology, aims to integrate private and public distributed ledgers, ensuring regulatory compliance while maintaining interoperability, the company said Monday. Hashgraph plans to provide services to asset managers, banks, and payment providers looking for secure, low-cost cross-border transactions using stablecoins. While public blockchains offer security and transparency, businesses in industries like finance and payments often face compliance challenges, particularly with know-your-customer (KYC) and anti-money laundering (AML) requirements. HashSphere solves this problem by restricting access to trusted participants, allowing firms to develop tokenized assets, AI-powered services, and other blockchain-based products while still complying with regulatory standards. The network also integrates

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