Fabian Riewe: Knowing Partner Chain’s Pain Points Helped KYVE Build Effective Solutions

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Author: Adeola @ Contributor of PermaDAO

Reviewer: Henry @ Contributor of PermaDAO

Fabian Riewe, the founder of KYVE has attributed the project’s achievement of reaching 10 million transactions to working closely with partner chains to know their pain points in order to optimize solutions for them.

“I was surprised that we reached this milestone so early on. It’s a great sign of the traction KYVE is getting. We’re really pleased to see it and continue this momentum,” Riewe told this reporter in an interview.

In the world of technology startups, KYVE’s achievement is a big deal considering that statistics about the success rate of startups are sometimes gloomy. According to Fundera, 14 percent of startups fail due to not regarding customers’ needs and Failory estimated that 10 percent of startups fail within the first year.

From the beginning, KYVE focused on working with partner chains to build products that address their pain points while also making sure its community has an organic user base, its founder said.

Breaking down what made up the 10 million transactions KYVE announced, Riewe said Cosmos Hub which has been its first data pool provided the most transactions while in terms of uploaded data, Osmosis and Axelar contributed more.

For two years, KYVE has been archiving on-chain data, validating it through a decentralised process and building customizable tools that help users access the data for any purpose.

The KYVE network fully matured this year which led to the launch of mainnet. The mainnet was accompanied by two testnets, Korellia and Kaon, which KYVE said were successful and they helped to consolidate the network for a wider public use.

It has partnered with top layer one blockchains including Polkadot and Arweave and enjoys support from others such as NEAR, Cosmos, Avalanche and Solana. Raising over $13 Million funds in three rounds from top web3 investors highlights the realisation of the relevance of KYVE’s products by those who matter in the world of business investment.

Building a project like KYVE would not have been possible without input from other projects such as Arweave. Riewe acknowledged the impact of Arweave’s infrastructure in helping it build a viable product and the ease of use of Arweave, which was facilitated by Irys (formerly Bundlr).

“Arweave is and has been a key piece of infrastructure for the KYVE tech stack. The easiness of transactions uploading, especially supercharged through Irys/Bundlr is what made the development of KYVE possible in the first place,” Riewe said.

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