Vana announced on November 20 the upcoming launch of its core network, introducing a blockchain ecosystem designed to enable decentralized control and monetization of user-owned data .
According to the Vana Foundation’s announcement, the new EVM-compliant Layer 1 blockchain will support DataDAOs, where users can group their data and retain full control over its use.
Based on the announcement, DataDAOs will allow individuals to aggregate and manage their data in a collaborative manner. These decentralized entities will allow participants to group their personal data sets while maintaining privacy and consent on how they access or use their data.
The VANA token will play multiple roles, including verifying data contributions, managing the network and paying transaction fees. Users who contribute data to DataDAO can receive rewards through a system that evaluates the value of the data sets provided.
Data privacy and security are key priorities of Van’s architecture. According to the foundation, users can securely store their data and decide on access permissions without losing control of ownership.
The announcement indicates that Van’s decentralized infrastructure is designed to comply with global data regulations such as GDPR and CCPA, offering a compliant and scalable solution for user-owned data systems.
“To submit personal data to DataDAO, you can receive upfront payment in the form of tokens from DataDAO, which then encrypts your data with a key controlled by DataDAO and can vote to use the collective’s data to train the model,” the – reads the statement.
“Another option is to store the data in its own storage and decrypt it only if the data buyer pays for access to it; it then trains its model in a secure environment,” the – the foundation said.
