Algebraix Data

About Algebraix Data

Algebraix Data was established with a focus on applying advanced mathematics to solve complex software engineering problems. Founded in 2010 by mathematician Gary Sherman, the company initially centered on creating "data algebra," a novel field of applied mathematics intended to revolutionize data query performance. This foundational technology aimed to enhance resource efficiency and scalability in data processing. In its early years, Algebraix provided big data analytics services, securing pilots with institutional clients like the CIA and the Navy, demonstrating its capability to handle massive databases without prior indexing. The company's initial business model involved charging for its analytics services, with a list price of $100,000 for the first terabyte of data.

Around 2017, Algebraix pivoted its strategy to leverage blockchain technology, a move driven by Chairman and CEO Charles Silver. This new direction focused on empowering individuals to own and monetize their personal data. The company began developing a permission-based advertising network where users could securely store their information in a "Personal Secure Vault" and get compensated by advertisers directly with cryptocurrency. To facilitate this, Algebraix planned to launch its own cryptocurrency, the ALX token, built on the Ethereum blockchain, and held an initial coin offering (ICO) to fund the project. The business model shifted to generating revenue through the appreciation of the ALX coin and managing the blockchain-based data market. Users would interact with the platform via a mobile application that included a digital wallet for storing and transacting ALX tokens.

The core technology, "data algebra," was developed by Gary Sherman, a professor at the Rose-Hulman Institute of Technology, based on extended set theory mathematics. This patented technology was designed to create a universal mathematical representation for all data, allowing for faster insights and reduced infrastructure costs. Later, the company's focus evolved, leading to the development of Fluree, a scalable graph database that incorporates blockchain benefits like immutability and fault tolerance. Fluree was co-founded by Brian Platz and Andrew "Flip" Filipowski, both seasoned entrepreneurs with extensive backgrounds in the software industry. Platz previously co-founded SilkRoad Technology, while Filipowski was known for his leadership at PLATINUM technology. Fluree operates as a data management platform designed for enterprise applications, facilitating trusted data sharing and collaboration. It features a unique architecture that separates transaction validation (FlureeDL) from querying (FlureeDB) to ensure scalability and security. In 2022, Fluree merged with ZettaLabs, an AI-based data mastering company, to enhance its capabilities in modernizing legacy data infrastructures, resulting in a new product called Fluree Sense.