Crypto enthusiasts might have heard of the ERC-20 token standard, which provides guidelines to ensure that tokens created on the Ethereum smart contract blockchain are compatible and can interact with other tokens and applications within the network.
A similar standard for data-backed tokens, called VRC-20, has now emerged.
Vana, an EVM-compatible Layer 1 blockchain that helps users monetize personal data by bundling it into DataDAOs for AI model training, introduced the new standard early this week to boost trust and transparency in the market for data-backed digital assets.
„For data markets to work, tokens must be reliable, secure, and useful. As a universal standard for data-backed tokens, VRC-20 delivers this by ensuring fair and transparent data token trading,” Vana announced on X.
The VRC-20 standard design includes specific criteria such as fixed supply, governance, and liquidity rules while ensuring real data access by tying tokens to actual data utility. Additionally, it prom
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