Vana is a Layer 1 blockchain that aims to revolutionize data ownership and decentralization.
The $VANA token plays a crucial role in the network by incentivizing user participation and ensuring ecosystem stability. It has a limited supply of 120 million tokens. The token is used for various purposes within the Vana network, including securing the network, paying transaction fees, supporting data liquidity pools, and participating in decentralized governance.
$VANA serves as the primary currency for accessing datasets within DataDAOs. Vana's vision is to empower users with control over their data and address concerns regarding data privacy and security. The project integrates advanced technologies like Trusted Execution Environments (TEEs) and Zero-Knowledge Proofs (ZKP) to ensure data remains private and secure.
The decentralized governance model allows users to influence the network's development through on-chain voting. Vana aims to provide a strong foundation for user-centric decentralized applications (dApps) that prioritize data privacy and empowerment.
Overall, Vana represents a significant advancement in the blockchain sector and has the potential to redefine data ownership and monetization in the digital economy.