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Rush for Hong Kong's Crypto Licenses Yet to Translate to Jobs: RecruitersDespite the increasing number of firms applying for #crypto licenses in Hong Kong, recruiters in the industry have not seen a corresponding surge in hiring activity. While around 150 companies lined up for a local crypto license on June 1, recruitment executives report that the demand for talent within the sector remains relatively low. The industry is still in the early stages of development, with many #Web3.0 companies scaling up and maturing. However, recruiters anticipate an increase in job openings as the industry progresses. The recent dip in the #cryptomarket has also led to a decrease in requests for technical talent, with some candidates hesitant due to the volatile nature of the crypto business. Although there has been a slight uptick in Web3 firms seeking legal and compliance hires, recruiters believe it may take several months for a surge in crypto talent as companies await license approvals. The local talent pool in Hong Kong is currently thin, and recruiters predict a talent war as more companies establish their presence in the region. Despite challenges in attracting risk-averse candidates, there are individuals transitioning from traditional finance to the crypto sector, driven by positive news and opportunities within the industry.$BNB $BTC #crypto2023 #Binance Remember that the cryptocurrency market is highly volatile and subject to rapid changes. It's important to conduct thorough research, stay updated with the latest news, and exercise caution when making investment decisions.

Rush for Hong Kong's Crypto Licenses Yet to Translate to Jobs: Recruiters

Despite the increasing number of firms applying for #crypto licenses in Hong Kong, recruiters in the industry have not seen a corresponding surge in hiring activity. While around 150 companies lined up for a local crypto license on June 1, recruitment executives report that the demand for talent within the sector remains relatively low. The industry is still in the early stages of development, with many #Web3.0 companies scaling up and maturing. However, recruiters anticipate an increase in job openings as the industry progresses. The recent dip in the #cryptomarket has also led to a decrease in requests for technical talent, with some candidates hesitant due to the volatile nature of the crypto business. Although there has been a slight uptick in Web3 firms seeking legal and compliance hires, recruiters believe it may take several months for a surge in crypto talent as companies await license approvals. The local talent pool in Hong Kong is currently thin, and recruiters predict a talent war as more companies establish their presence in the region. Despite challenges in attracting risk-averse candidates, there are individuals transitioning from traditional finance to the crypto sector, driven by positive news and opportunities within the industry.$BNB $BTC

#crypto2023 #Binance

Remember that the cryptocurrency market is highly volatile and subject to rapid changes. It's important to conduct thorough research, stay updated with the latest news, and exercise caution when making investment decisions.
🚀 BINANCE LAUNCHPOOL WELCOMES NOTCOIN (NOT)'- A REVOLUTIONARY COMMUNITY TOKEN🚀🚀 Exciting News! 🚀 Binance, the world's largest cryptocurrency exchange, is thrilled to announce the 54th project on its innovative Launchpool platform - Notcoin (NOT) 🚀, a groundbreaking community token that has revolutionized the way users engage with web3 technology 🔥! Here's what you need to know: • Introducing Notcoin (NOT): A game-changer in web3 onboarding! Notcoin has successfully onboarded users into the web3 ecosystem through a unique tap-to-earn mining mechanic, making it easier for individuals to participate in decentralized finance and fostering a sense of community and inclusivity 🌟 • Binance Launchpool: A platform for innovation! Binance Launchpool is designed to facilitate the growth and development of innovative blockchain projects. By providing a seamless and secure environment for token farming, Launchpool has become a go-to destination for investors and enthusiasts alike 🚀 • Staking Opportunities: Notcoin (NOT) is now available for staking on Binance Launchpool, offering users a unique opportunity to farm NOT tokens by staking their BNB and FDUSD 💸. Don't miss this three-day farming period, commencing on May 13th, 2024, at 00:00 UTC 🕰️ • Conclusion and Future Outlook: The integration of Notcoin (NOT) on Binance Launchpool marks a significant step forward in the evolution of web3 adoption and DeFi. As the cryptocurrency market continues to evolve, the Launchpool platform is poised to play a vital role in shaping the future of blockchain technology 🔮. With its innovative approach to onboarding users and fostering community engagement, Notcoin (NOT) is an exciting addition to the Binance Launchpool family 🎉 #Biuscrypt #BinanceLaunchpool #altcoins #Web3.0 #Notcoin

🚀 BINANCE LAUNCHPOOL WELCOMES NOTCOIN (NOT)'- A REVOLUTIONARY COMMUNITY TOKEN🚀

🚀 Exciting News! 🚀
Binance, the world's largest cryptocurrency exchange, is thrilled to announce the 54th project on its innovative Launchpool platform - Notcoin (NOT) 🚀, a groundbreaking community token that has revolutionized the way users engage with web3 technology 🔥!
Here's what you need to know:
• Introducing Notcoin (NOT):
A game-changer in web3 onboarding! Notcoin has successfully onboarded users into the web3 ecosystem through a unique tap-to-earn mining mechanic, making it easier for individuals to participate in decentralized finance and fostering a sense of community and inclusivity 🌟
• Binance Launchpool:
A platform for innovation! Binance Launchpool is designed to facilitate the growth and development of innovative blockchain projects. By providing a seamless and secure environment for token farming, Launchpool has become a go-to destination for investors and enthusiasts alike 🚀
• Staking Opportunities:
Notcoin (NOT) is now available for staking on Binance Launchpool, offering users a unique opportunity to farm NOT tokens by staking their BNB and FDUSD 💸. Don't miss this three-day farming period, commencing on May 13th, 2024, at 00:00 UTC 🕰️
• Conclusion and Future Outlook:
The integration of Notcoin (NOT) on Binance Launchpool marks a significant step forward in the evolution of web3 adoption and DeFi. As the cryptocurrency market continues to evolve, the Launchpool platform is poised to play a vital role in shaping the future of blockchain technology 🔮. With its innovative approach to onboarding users and fostering community engagement, Notcoin (NOT) is an exciting addition to the Binance Launchpool family 🎉

#Biuscrypt #BinanceLaunchpool #altcoins #Web3.0 #Notcoin
CeFi vs. DeFi: Choosing the Right Financial Approach for YouDecentralized Finance (DeFi) and Centralized Finance (CeFi) are two distinct approaches to financial systems, each with its own set of characteristics and advantages. Here are the key differences between DeFi and CeFi: Control and Ownership DeFi: In DeFi, individuals have complete control and ownership of their assets. Transactions are executed on decentralized platforms, typically built on blockchain networks, allowing users to manage their funds directly without the need for intermediaries. CeFi: In CeFi, individuals rely on centralized entities such as banks or financial institutions to hold and manage their assets. Users trust these centralized platforms to handle transactions and safeguard their funds. Intermediaries DeFi: DeFi eliminates the need for intermediaries by utilizing smart contracts and blockchain technology. It operates in a peer-to-peer manner, enabling direct interactions between users without relying on third parties. CeFi: CeFi heavily relies on intermediaries such as banks, exchanges, and other financial institutions. These intermediaries facilitate transactions, provide liquidity, and perform various financial services on behalf of the users. Transparency and Auditing DeFi: DeFi transactions and smart contracts are transparent and auditable on the blockchain. Anyone can verify and audit the code and transaction history, ensuring transparency and accountability. CeFi: CeFi platforms often operate in a centralized manner, which means that transparency and auditing may be limited. Users have to trust the platform's internal systems and processes. Access and Inclusivity DeFi: DeFi aims to be inclusive and accessible to anyone with an internet connection. It provides financial services to individuals who may not have access to traditional banking systems or face limitations due to geographical or regulatory constraints. CeFi: CeFi platforms may have certain requirements and restrictions, such as the need for identity verification or adherence to specific regulatory frameworks. This can limit access for certain individuals or regions. Risks and Security DeFi: While DeFi offers greater control and ownership, it also carries risks. Smart contract vulnerabilities, hacks, and scams are potential risks in the DeFi space. Users must exercise caution, conduct thorough research, and follow best practices to mitigate risks. CeFi: CeFi platforms typically have more established security measures in place, such as insurance, regulatory compliance, and robust infrastructure. However, users entrust their funds to centralized entities, which may be susceptible to hacking or mismanagement. Financial Products and Services DeFi: DeFi provides a wide range of decentralized financial products and services, including lending, borrowing, yield farming, decentralized exchanges, and more. These services often offer innovative features and competitive interest rates. CeFi: CeFi platforms offer traditional financial products and services, similar to those provided by banks and financial institutions. These include savings accounts, loans, trading platforms, and other investment opportunities. Both DeFi and CeFi have their own advantages and limitations. It ultimately depends on individual preferences, risk tolerance, and specific financial needs when choosing between the two. Some investors may choose to utilize both approaches to diversify their investment strategies and take advantage of the unique benefits each offers. #DeFiRevolution #Web3.0 #Binance

CeFi vs. DeFi: Choosing the Right Financial Approach for You

Decentralized Finance (DeFi) and Centralized Finance (CeFi) are two distinct approaches to financial systems, each with its own set of characteristics and advantages. Here are the key differences between DeFi and CeFi:

Control and Ownership

DeFi: In DeFi, individuals have complete control and ownership of their assets. Transactions are executed on decentralized platforms, typically built on blockchain networks, allowing users to manage their funds directly without the need for intermediaries.

CeFi: In CeFi, individuals rely on centralized entities such as banks or financial institutions to hold and manage their assets. Users trust these centralized platforms to handle transactions and safeguard their funds.

Intermediaries

DeFi: DeFi eliminates the need for intermediaries by utilizing smart contracts and blockchain technology. It operates in a peer-to-peer manner, enabling direct interactions between users without relying on third parties.

CeFi: CeFi heavily relies on intermediaries such as banks, exchanges, and other financial institutions. These intermediaries facilitate transactions, provide liquidity, and perform various financial services on behalf of the users.

Transparency and Auditing

DeFi: DeFi transactions and smart contracts are transparent and auditable on the blockchain. Anyone can verify and audit the code and transaction history, ensuring transparency and accountability.

CeFi: CeFi platforms often operate in a centralized manner, which means that transparency and auditing may be limited. Users have to trust the platform's internal systems and processes.

Access and Inclusivity

DeFi: DeFi aims to be inclusive and accessible to anyone with an internet connection. It provides financial services to individuals who may not have access to traditional banking systems or face limitations due to geographical or regulatory constraints.

CeFi: CeFi platforms may have certain requirements and restrictions, such as the need for identity verification or adherence to specific regulatory frameworks. This can limit access for certain individuals or regions.

Risks and Security

DeFi: While DeFi offers greater control and ownership, it also carries risks. Smart contract vulnerabilities, hacks, and scams are potential risks in the DeFi space. Users must exercise caution, conduct thorough research, and follow best practices to mitigate risks.

CeFi: CeFi platforms typically have more established security measures in place, such as insurance, regulatory compliance, and robust infrastructure. However, users entrust their funds to centralized entities, which may be susceptible to hacking or mismanagement.

Financial Products and Services

DeFi: DeFi provides a wide range of decentralized financial products and services, including lending, borrowing, yield farming, decentralized exchanges, and more. These services often offer innovative features and competitive interest rates.

CeFi: CeFi platforms offer traditional financial products and services, similar to those provided by banks and financial institutions. These include savings accounts, loans, trading platforms, and other investment opportunities.

Both DeFi and CeFi have their own advantages and limitations. It ultimately depends on individual preferences, risk tolerance, and specific financial needs when choosing between the two. Some investors may choose to utilize both approaches to diversify their investment strategies and take advantage of the unique benefits each offers.

#DeFiRevolution #Web3.0 #Binance
Embracing the Sweet Transition: Exploring the Benefits of Moving from Web 2 to Web 3#Web3.0 Introduction: The digital landscape is continuously evolving, and as we enter a new era, the transition from Web 2 to Web 3 holds immense promise. Web 3 represents a paradigm shift, introducing decentralized technologies and blockchain-based systems that empower users, foster trust, and redefine online interactions. This transition brings forth a sweet and exciting future, where the possibilities are boundless. In this article, we will delve into the benefits of embracing this transition and the transformative potential it holds for individuals and businesses alike. 1. Enhanced User Control and Privacy: One of the key advantages of Web 3 is its focus on giving users greater control over their data and online identities. In Web 3, individuals have the ability to manage and secure their personal information using decentralized identity systems. This empowers users by allowing them to decide how their data is used and shared, enhancing privacy and reducing the risks of data breaches and misuse. 2. Decentralization and Trust: Web 3 is built on decentralized architectures such as blockchain, which eliminates the need for intermediaries and creates a more trustless environment. This transition fosters peer-to-peer interactions, removing central authorities and enabling greater transparency. By decentralizing services, Web 3 promotes trust, reduces censorship, and enhances security, leading to more robust and reliable online experiences. 3. Incentivized Collaboration and User Empowerment: Web 3 leverages blockchain technology to introduce tokenization and smart contracts. This enables new economic models where users can be rewarded for their contributions to the network. In Web 3, individuals can participate in decentralized applications (DApps) and decentralized autonomous organizations (DAOs), allowing them to have a direct stake in the platforms they use. This shift in incentives fosters collaboration, empowers users, and creates a fairer and more inclusive digital economy. 4. Interoperability and Seamless Experiences: Web 3 aims to break down silos and enable seamless interoperability between different platforms and services. By using open standards and protocols, Web 3 allows users to move their data and digital assets across various applications easily. This interoperability encourages innovation, facilitates cross-platform integration, and enables a cohesive user experience, ultimately leading to a more connected and efficient digital ecosystem. 5. Unlocking New Possibilities with Web 3 Technologies: Web 3 encompasses a range of transformative technologies such as decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized storage, among others. These technologies open up exciting opportunities for creators, artists, entrepreneurs, and businesses to explore new revenue models, streamline processes, and engage with their audiences in novel ways. Web 3 presents a fertile ground for innovation and creativity, creating a vibrant and dynamic digital landscape. Conclusion: The transition from Web 2 to Web 3 represents a sweet evolution, offering a host of benefits for individuals and businesses. Enhanced user control, decentralized trust, incentivized collaboration, interoperability, and the exciting possibilities brought by Web 3 technologies collectively shape a future where the internet is more inclusive, secure, and user-centric. By embracing this transition, we can embark on a journey towards a web that empowers its users, fosters innovation, and embraces the full potential of the digital age.

Embracing the Sweet Transition: Exploring the Benefits of Moving from Web 2 to Web 3

#Web3.0

Introduction:

The digital landscape is continuously evolving, and as we enter a new era, the transition from Web 2 to Web 3 holds immense promise. Web 3 represents a paradigm shift, introducing decentralized technologies and blockchain-based systems that empower users, foster trust, and redefine online interactions. This transition brings forth a sweet and exciting future, where the possibilities are boundless. In this article, we will delve into the benefits of embracing this transition and the transformative potential it holds for individuals and businesses alike.

1. Enhanced User Control and Privacy:

One of the key advantages of Web 3 is its focus on giving users greater control over their data and online identities. In Web 3, individuals have the ability to manage and secure their personal information using decentralized identity systems. This empowers users by allowing them to decide how their data is used and shared, enhancing privacy and reducing the risks of data breaches and misuse.

2. Decentralization and Trust:

Web 3 is built on decentralized architectures such as blockchain, which eliminates the need for intermediaries and creates a more trustless environment. This transition fosters peer-to-peer interactions, removing central authorities and enabling greater transparency. By decentralizing services, Web 3 promotes trust, reduces censorship, and enhances security, leading to more robust and reliable online experiences.

3. Incentivized Collaboration and User Empowerment:

Web 3 leverages blockchain technology to introduce tokenization and smart contracts. This enables new economic models where users can be rewarded for their contributions to the network. In Web 3, individuals can participate in decentralized applications (DApps) and decentralized autonomous organizations (DAOs), allowing them to have a direct stake in the platforms they use. This shift in incentives fosters collaboration, empowers users, and creates a fairer and more inclusive digital economy.

4. Interoperability and Seamless Experiences:

Web 3 aims to break down silos and enable seamless interoperability between different platforms and services. By using open standards and protocols, Web 3 allows users to move their data and digital assets across various applications easily. This interoperability encourages innovation, facilitates cross-platform integration, and enables a cohesive user experience, ultimately leading to a more connected and efficient digital ecosystem.

5. Unlocking New Possibilities with Web 3 Technologies:

Web 3 encompasses a range of transformative technologies such as decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized storage, among others. These technologies open up exciting opportunities for creators, artists, entrepreneurs, and businesses to explore new revenue models, streamline processes, and engage with their audiences in novel ways. Web 3 presents a fertile ground for innovation and creativity, creating a vibrant and dynamic digital landscape.

Conclusion:

The transition from Web 2 to Web 3 represents a sweet evolution, offering a host of benefits for individuals and businesses. Enhanced user control, decentralized trust, incentivized collaboration, interoperability, and the exciting possibilities brought by Web 3 technologies collectively shape a future where the internet is more inclusive, secure, and user-centric. By embracing this transition, we can embark on a journey towards a web that empowers its users, fosters innovation, and embraces the full potential of the digital age.
ZK proofs could change the internet, not just Web3 — Aleo exec ZK-proofs could help online privacy by only revealing relevant user information, solving the internet’s “biggest problem,” says Brennen Schlueter. #LucidHoang #Ufin #ZK-proofs #Web3.0 #Binanceturns6
ZK proofs could change the internet, not just Web3 — Aleo exec

ZK-proofs could help online privacy by only revealing relevant user information, solving the internet’s “biggest problem,” says Brennen Schlueter.

#LucidHoang #Ufin #ZK-proofs #Web3.0 #Binanceturns6
An Introduction to Web3 and The Graph for New Users#GRT #Web3.0 #Data #ETH #ARBITRUM The internet is in the midst of a renaissance. As web3 proliferates, this new internet reshapes how we think about, create, and utilize global networks. In this novel era, protocols are supplanting the corporations and bureaucracies of yesterday, empowering individuals to scale human coordination like never before. Open data sits at the crossroads of web3’s innovation and utility. In order to support the needs of a burgeoning web3, a decentralized protocol to access data had to be created. Enter: The Graph. Indexers on The Graph Network have been indexing web3 data since the decentralized protocol launched in December 2020. The continued growth of the network signals that more and more people are joining The Graph ecosystem. This blog serves as a refresher on how The Graph serves web3. Why Web3 Needs The Graph The internet elevated the Information Age–transforming the world from being static, stagnant, and disconnected to being digital, scalable, and globally linked. People gained the ability to exchange information between devices all over the world and share knowledge online. The world was beginning to change. But at the time, there was a problem: organizing the ocean of new information. Anyone could publish anything. However, it was particularly difficult to find specific information you were looking for. You had to know the URL to specific websites, bookmark almost everything, and rely on recommendations. Google, among others, remedied this problem in the early days of the web with a search engine, indexing content across the web and making it possible to find and access websites with a simple search. The Graph solves an even more complex problem in web3. Web3 is built on openness and decentralization, but lacks the native capabilities to provide access to blockchain data in any practical manner, especially with large datasets. The Graph combines innovative technology and powerful incentive structures to index and serve web3 data to users through a decentralized network. A Transparent Ledger for Everyone Web3 is built on blockchains, which function like public ledgers that anyone can access. This technology is as revolutionary as the early internet, but it too faces an organization problem. How do you read a public ledger? Querying data from the blockchain is computationally intensive, challenging, expensive and time consuming. Without The Graph, you’d have to rely on basic read operations built into the blockchain. This works for simple scenarios, but becomes difficult for searching, aggregating, or meaningfully organizing data. Let’s take NFTs, for example. Imagine wanting to query NFTs in a wallet and filtering by a specific characteristic. You’d have to manually process countless events, read metadata from IPFS, and aggregate it yourself. Even a simple process like this could take hours or days to finish. Plus, you’d have to account for the fact that new blocks holding new transactions are constantly being added to the blockchain! The Graph solves this problem and many more by indexing the world’s blockchain data in a decentralized way. Essentially, The Graph organizes web3 data. An Open System of APIs The flow of data is a crucial element of the internet. However, as internet users access data published to the web, they also generate usage and behavior data of their own. User data has long been the backbone of big tech and the basis for skyrocketing valuations of tech firms. In the web2 landscape, companies profit to the tune of billions of dollars by harvesting their users’ data and selling it to third parties. This model relies on inherently extractive, predatory behavior. To make matters worse for users, web2’s big tech companies operate on centralized technology, which means they’re the only ones in control. This leaves most of the internet vulnerable to attacks, downtime, and, ultimately, abuse of power. The Graph decouples access to data from user exploitation by implementing a decentralized data economy and a library of open-source APIs, called subgraphs. Subgraphs organize and serve blockchain data. Anyone can build a subgraph or query an existing one thanks to their open-source nature. You can query any subgraph using a standard GraphQL API. Subgraphs provide the web3 ecosystem with access to blockchain data organization, aggregation, and availability in a decentralized way. The Graph maximizes security, robustness, and interoperability. But how can blockchain data be indexed in a decentralized way* and* be done so reliably with ease of access? The Graph operates on an elegant, powerful system of incentives for network participants to provide quality data. The Graph’s Incentive Structure GRT is the utility token that powers The Graph Network. It incentivizes each participant in the ecosystem to collaborate and contribute towards a best-in-class indexing and querying experience for users of The Graph. There are four key roles, each of which has incentive structures that secure the network and ensure high-quality data. The four roles include: Indexers - Stake GRT to operate indexing nodes and serve queries for data. Indexers select subgraphs to index on the network based on the curation signal, which is determined by how much GRT Curators stake with the subgraph. Indexers receive indexing rewards for indexing subgraphs and serving queries, respectively. Delegators - Secure the network by delegating their GRT to Indexers. Delegation represents a way to participate in securing the network without running a node. Delegating increases the number of queries an Indexer can serve and strengthens the integrity of the network. Delegators choose Indexers based on a number of factors, including trustworthiness, activity within The Graph community, quality of data served, and Delegator rewards. Curators - Discover new, useful subgraphs on the network. Curators help Indexers identify which subgraphs are the most helpful, and therefore, worth indexing. By signaling on subgraphs, Curators receive a percentage of GRT rewards. Subgraph Developers - Build subgraphs using data from a dapp. Popular subgraphs include projects such as Livepeer and Audius. Subgraph developers have the option to curate a subgraph upon deployment. These different roles constitute the backbone of a powerful, trustworthy protocol that serves data to the entire web3 ecosystem in a decentralized way. The Future of Web3 with The Graph One of the core values of web3 is decentralization, which enables a world where contributors, users, and creators on the internet are the same individuals that get to shape its future. As web3 continues to grow in usage and utility, being able to index and query blockchain data in a decentralized way remains paramount. Access to the world’s open data must be a public good, not a siloed privilege. The Graph supports developers intent on revolutionizing the web by significantly lowering the barrier to entry for building atop of blockchain data. As web3 scales, The Graph scales right along with it, serving as a foundational layer of the web3 stack built without centralized points of failure. A technical background is not necessary to participate in this vision. Learn about the roles in The Graph Network, join the community of decentralization pioneers in The Graph Discord, and help steer the future of the protocol in The Graph Forum. Ready to jump into accessing blockchain data? Learn how to make your first query. A vibrant, decentralized future awaits you in The Graph community! About The Graph The Graph is the indexing and query layer of web3. Developers build and publish open APIs, called subgraphs, that applications can query using GraphQL. The Graph currently supports indexing data from over 39 different networks including Ethereum, NEAR, Arbitrum, Optimism, Polygon, Avalanche, Celo, Fantom, Moonbeam, IPFS, Cosmos Hub and PoA with more networks coming soon. To date, 63,000+ subgraphs have been deployed on the hosted service. Tens of thousands of developers use The Graph for applications such as Uniswap, Synthetix, KnownOrigin, Art Blocks, Gnosis, Balancer, Livepeer, DAOstack, Audius, Decentraland, and many others. The Graph Network’s self service experience for developers launched in July 2021; since then over 500 subgraphs have migrated to the Network, with 180+ Indexers serving subgraph queries, 9,300+ Delegators, and 2,400+ Curators to date. More than 4 million GRT has been signaled to date with an average of 15K GRT per subgraph. If you are a developer building an application or web3 application, you can use subgraphs for indexing and querying data from blockchains. The Graph allows applications to efficiently and performantly present data in a UI and allows other developers to use your subgraph too! You can deploy a subgraph to the network using the newly launched Subgraph Studio or query existing subgraphs that are in the Graph Explorer. The Graph’s developers and members of the community are always eager to chat with you, and The Graph ecosystem has a growing community The Graph Foundation oversees The Graph Network. The Graph Foundation is overseen by the Technical Council. Edge & Node, StreamingFast, Figment, Semiotic, The Guild, Messari and GraphOps are seven of the many organizations within The Graph ecosystem. CATEGORY Graph Protocol AUTHOR The Graph Fundation

An Introduction to Web3 and The Graph for New Users

#GRT #Web3.0 #Data #ETH #ARBITRUM

The internet is in the midst of a renaissance. As web3 proliferates, this new internet reshapes how we think about, create, and utilize global networks. In this novel era, protocols are supplanting the corporations and bureaucracies of yesterday, empowering individuals to scale human coordination like never before.

Open data sits at the crossroads of web3’s innovation and utility. In order to support the needs of a burgeoning web3, a decentralized protocol to access data had to be created. Enter: The Graph. Indexers on The Graph Network have been indexing web3 data since the decentralized protocol launched in December 2020. The continued growth of the network signals that more and more people are joining The Graph ecosystem. This blog serves as a refresher on how The Graph serves web3.

Why Web3 Needs The Graph

The internet elevated the Information Age–transforming the world from being static, stagnant, and disconnected to being digital, scalable, and globally linked. People gained the ability to exchange information between devices all over the world and share knowledge online. The world was beginning to change.

But at the time, there was a problem: organizing the ocean of new information.

Anyone could publish anything. However, it was particularly difficult to find specific information you were looking for. You had to know the URL to specific websites, bookmark almost everything, and rely on recommendations.

Google, among others, remedied this problem in the early days of the web with a search engine, indexing content across the web and making it possible to find and access websites with a simple search.

The Graph solves an even more complex problem in web3.

Web3 is built on openness and decentralization, but lacks the native capabilities to provide access to blockchain data in any practical manner, especially with large datasets. The Graph combines innovative technology and powerful incentive structures to index and serve web3 data to users through a decentralized network.

A Transparent Ledger for Everyone

Web3 is built on blockchains, which function like public ledgers that anyone can access. This technology is as revolutionary as the early internet, but it too faces an organization problem.

How do you read a public ledger?

Querying data from the blockchain is computationally intensive, challenging, expensive and time consuming.

Without The Graph, you’d have to rely on basic read operations built into the blockchain. This works for simple scenarios, but becomes difficult for searching, aggregating, or meaningfully organizing data.

Let’s take NFTs, for example. Imagine wanting to query NFTs in a wallet and filtering by a specific characteristic. You’d have to manually process countless events, read metadata from IPFS, and aggregate it yourself. Even a simple process like this could take hours or days to finish. Plus, you’d have to account for the fact that new blocks holding new transactions are constantly being added to the blockchain!

The Graph solves this problem and many more by indexing the world’s blockchain data in a decentralized way.

Essentially, The Graph organizes web3 data.

An Open System of APIs

The flow of data is a crucial element of the internet. However, as internet users access data published to the web, they also generate usage and behavior data of their own. User data has long been the backbone of big tech and the basis for skyrocketing valuations of tech firms. In the web2 landscape, companies profit to the tune of billions of dollars by harvesting their users’ data and selling it to third parties. This model relies on inherently extractive, predatory behavior. To make matters worse for users, web2’s big tech companies operate on centralized technology, which means they’re the only ones in control. This leaves most of the internet vulnerable to attacks, downtime, and, ultimately, abuse of power.

The Graph decouples access to data from user exploitation by implementing a decentralized data economy and a library of open-source APIs, called subgraphs.

Subgraphs organize and serve blockchain data. Anyone can build a subgraph or query an existing one thanks to their open-source nature. You can query any subgraph using a standard GraphQL API.

Subgraphs provide the web3 ecosystem with access to blockchain data organization, aggregation, and availability in a decentralized way. The Graph maximizes security, robustness, and interoperability.

But how can blockchain data be indexed in a decentralized way* and* be done so reliably with ease of access? The Graph operates on an elegant, powerful system of incentives for network participants to provide quality data.

The Graph’s Incentive Structure

GRT is the utility token that powers The Graph Network. It incentivizes each participant in the ecosystem to collaborate and contribute towards a best-in-class indexing and querying experience for users of The Graph.

There are four key roles, each of which has incentive structures that secure the network and ensure high-quality data.

The four roles include:

Indexers - Stake GRT to operate indexing nodes and serve queries for data. Indexers select subgraphs to index on the network based on the curation signal, which is determined by how much GRT Curators stake with the subgraph. Indexers receive indexing rewards for indexing subgraphs and serving queries, respectively.

Delegators - Secure the network by delegating their GRT to Indexers. Delegation represents a way to participate in securing the network without running a node. Delegating increases the number of queries an Indexer can serve and strengthens the integrity of the network. Delegators choose Indexers based on a number of factors, including trustworthiness, activity within The Graph community, quality of data served, and Delegator rewards.

Curators - Discover new, useful subgraphs on the network. Curators help Indexers identify which subgraphs are the most helpful, and therefore, worth indexing. By signaling on subgraphs, Curators receive a percentage of GRT rewards.

Subgraph Developers - Build subgraphs using data from a dapp. Popular subgraphs include projects such as Livepeer and Audius. Subgraph developers have the option to curate a subgraph upon deployment.

These different roles constitute the backbone of a powerful, trustworthy protocol that serves data to the entire web3 ecosystem in a decentralized way.

The Future of Web3 with The Graph

One of the core values of web3 is decentralization, which enables a world where contributors, users, and creators on the internet are the same individuals that get to shape its future.

As web3 continues to grow in usage and utility, being able to index and query blockchain data in a decentralized way remains paramount. Access to the world’s open data must be a public good, not a siloed privilege. The Graph supports developers intent on revolutionizing the web by significantly lowering the barrier to entry for building atop of blockchain data. As web3 scales, The Graph scales right along with it, serving as a foundational layer of the web3 stack built without centralized points of failure.

A technical background is not necessary to participate in this vision. Learn about the roles in The Graph Network, join the community of decentralization pioneers in The Graph Discord, and help steer the future of the protocol in The Graph Forum. Ready to jump into accessing blockchain data? Learn how to make your first query.

A vibrant, decentralized future awaits you in The Graph community!

About The Graph

The Graph is the indexing and query layer of web3. Developers build and publish open APIs, called subgraphs, that applications can query using GraphQL. The Graph currently supports indexing data from over 39 different networks including Ethereum, NEAR, Arbitrum, Optimism, Polygon, Avalanche, Celo, Fantom, Moonbeam, IPFS, Cosmos Hub and PoA with more networks coming soon. To date, 63,000+ subgraphs have been deployed on the hosted service. Tens of thousands of developers use The Graph for applications such as Uniswap, Synthetix, KnownOrigin, Art Blocks, Gnosis, Balancer, Livepeer, DAOstack, Audius, Decentraland, and many others.

The Graph Network’s self service experience for developers launched in July 2021; since then over 500 subgraphs have migrated to the Network, with 180+ Indexers serving subgraph queries, 9,300+ Delegators, and 2,400+ Curators to date. More than 4 million GRT has been signaled to date with an average of 15K GRT per subgraph.

If you are a developer building an application or web3 application, you can use subgraphs for indexing and querying data from blockchains. The Graph allows applications to efficiently and performantly present data in a UI and allows other developers to use your subgraph too! You can deploy a subgraph to the network using the newly launched Subgraph Studio or query existing subgraphs that are in the Graph Explorer. The Graph’s developers and members of the community are always eager to chat with you, and The Graph ecosystem has a growing community

The Graph Foundation oversees The Graph Network. The Graph Foundation is overseen by the Technical Council. Edge & Node, StreamingFast, Figment, Semiotic, The Guild, Messari and GraphOps are seven of the many organizations within The Graph ecosystem.

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The Graph Fundation
There are two fundamental ways for Web2 applications to store data - the file system and the database. Due to the lack of database products in #Web3.0 , most dApps still use centralized databases to store structured data, except for storing a small amount of important data in expensive smart contracts. 
There are two fundamental ways for Web2 applications to store data - the file system and the database.

Due to the lack of database products in #Web3.0 , most dApps still use centralized databases to store structured data, except for storing a small amount of important data in expensive smart contracts. 
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SJ Crypto
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What does a decentralized database mean for Web3?
1.Potential demand for decentralized databases.

There are two fundamental ways for Web2 applications to store data - the file system and the database. Due to the lack of database products in Web3, most dApps still use centralized databases to store structured data, except for storing a small amount of important data in expensive smart contracts.

As decentralized file systems like #IPFS are gradually being used to store NFT data in Web3 applications, decentralized file systems have been recognized and accepted by Web3, and decentralized database technology has undergone a round of iteration, resulting in the emergence of various new products.

Decentralized databases have unique advantages over traditional centralized databases. They can reduce the risk of single-point failure in Web3 projects and make dApps completely decentralized.

2.The possibilities for implementation.

Technically speaking, both SQL and NoSQL can be used as databases. SQL is more mature and efficient, while NoSQL offers more richness and flexibility. SQL's data structure requires high consistency, and it has stronger ability to perform join queries, making it more mature and efficient.

On the other hand, NoSQL's key-value structure is more in line with Ethereum's design pattern and can support a variety of data types, making it flexible and easy to scale. #ETH

Combining the application requirements of Web3 with the technical protocols of the encryption industry is a key factor in improving data storage and retrieval speed, incentive models and token economics, and guarantee algorithms for ensuring data availability, which determines whether a protocol will be widely used.

Good incentive models and token models can not only encourage node participation but also stimulate nodes to do the right thing, such as providing effective retrieval functions rather than just storing data to obtain storage rewards.

The data availability guarantee algorithm checks the node's storage of data at regular intervals and requires the node to provide proof of data availability, which is complementary to node incentives to prevent data loss.

The efficiency of data retrieval affects user experience, which is critical to the convenience and smoothness of using dApps.

In summary, the combination of Web3 application requirements and encryption industry technical protocols is crucial for improving data storage and retrieval speed, incentive and token models, and guarantee algorithms for ensuring data availability.

Good incentive and token models can encourage nodes to provide effective retrieval functions rather than just storing data to obtain rewards.

The data availability guarantee algorithm checks the node's storage of data at regular intervals and requires the node to provide proof of data availability, which is complementary to node incentives to prevent data loss.

Efficient data retrieval is critical to user experience and the convenience of using dApps. #GOATMoments
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Bullish
Japan, a nation known for its technological innovation and forward-thinking policies, has affirmed its commitment to nurturing the nascent Web3 industry. #Japan #Binance #Web3.0 https://blockchainreporter.net/japan-embraces-web3-revolution-prime-minister-kishida-asserts-commitment-as-binance-confirms-launch/
Japan, a nation known for its technological innovation and forward-thinking policies, has affirmed its commitment to nurturing the nascent Web3 industry.

#Japan #Binance #Web3.0

https://blockchainreporter.net/japan-embraces-web3-revolution-prime-minister-kishida-asserts-commitment-as-binance-confirms-launch/
Doer Marketplace: Revolutionizing the Digital Services Landscape Doer Market is an innovative digital #marketplace specifically designed for the burgeoning Web 3.0 ecosystem, offering a unique platform for #blockchain and digital asset professionals to connect and collaborate. Tailored to meet the distinct needs of this dynamic sector, it provides a wide range of specialized services, from blockchain development to #NFT marketing, all facilitated through a secure, blockchain-based infrastructure. With its emphasis on verified professionals, secure transactions, and a global talent pool, #DoerMarket is not just a hub for services but a thriving community driving the future of #Web3.0 innovations.
Doer Marketplace: Revolutionizing the Digital Services Landscape

Doer Market is an innovative digital #marketplace specifically designed for the burgeoning Web 3.0 ecosystem, offering a unique platform for #blockchain and digital asset professionals to connect and collaborate. Tailored to meet the distinct needs of this dynamic sector, it provides a wide range of specialized services, from blockchain development to #NFT marketing, all facilitated through a secure, blockchain-based infrastructure.

With its emphasis on verified professionals, secure transactions, and a global talent pool, #DoerMarket is not just a hub for services but a thriving community driving the future of #Web3.0 innovations.
Web 3.0 and Cryptocurrencies: A Beginner’s Guide to the Future of the InternetWelcome to the exciting world of #Web3.0 and cryptocurrencies! So what is the relationship between these two concepts and how they are shaping the future of the internet? Whether you’re new to the field or seeking a more precise understanding, in this blog, we’ll guide you through the basics and help you grasp the fundamental ideas behind Web 3.0 and #cryptocurrencies . 1.Understanding Web 3.0: Web 3.0, often called the “decentralized web,” represents the next generation of the internet. Unlike Web 2.0, which mainly focuses on user-generated content and centralized platforms, Web 3.0 aims to give power back to users by emphasizing decentralization, privacy, and data ownership. It envisions a web where individuals have greater control over their online experiences and can interact peer-to-peer without relying on intermediaries. 2. Exploring Cryptocurrencies: Cryptocurrencies are digital or virtual currencies that use cryptography to secure transactions and control the creation of new units. Bitcoin, the first and most well-known cryptocurrency, gained global attention, but it was only the beginning. There are now thousands of cryptocurrencies, each with its own unique features and purposes. Cryptocurrencies operate on decentralized networks called transparent blockchains immutable ledgers that record all transactions. 3. The Role of Cryptocurrencies in Web 3.0: Cryptocurrencies play a vital role in enabling Web 3.0. They facilitate secure and transparent peer-to-peer transactions, removing the need for traditional intermediaries such as banks or payment processors. By utilizing cryptocurrencies, Web 3.0 aims to create #decentralized applications (DApps) that are resistant to censorship and control, offering users greater privacy and control over their data. Cryptocurrencies provide the economic infrastructure for these applications, incentivizing participants and enabling value exchange within the decentralized ecosystem. 4. Benefits of Web 3.0 and Cryptocurrencies: Web 3.0 and cryptocurrencies offer several advantages: a. Decentralization: Web 3.0 aims to eliminate the dominance of centralized entities, fostering a more open and democratic internet where power is distributed among users. b. Privacy and Security: Cryptocurrencies utilize cryptographic techniques to ensure secure transactions and protect user data, enhancing privacy and reducing the risk of data breaches. c. Ownership and Control: With Web 3.0, individuals have greater control over their data and digital assets. Cryptocurrencies enable true ownership and the ability to transact directly without relying on intermediaries. d. Global Accessibility: Cryptocurrencies are accessible to anyone with an internet connection, providing financial services to the unbanked and underbanked populations worldwide. As Web 3.0 continues to evolve, cryptocurrencies will remain a fundamental component of the decentralized web. They empower users, enable secure transactions, and foster innovation in various fields. By understanding the relationship between Web 3.0 and cryptocurrencies, you can navigate this transformative landscape and be part of shaping the future of the Internet. Embrace the decentralized web and explore the exciting possibilities that lie ahead!

Web 3.0 and Cryptocurrencies: A Beginner’s Guide to the Future of the Internet

Welcome to the exciting world of #Web3.0 and cryptocurrencies! So what is the relationship between these two concepts and how they are shaping the future of the internet? Whether you’re new to the field or seeking a more precise understanding, in this blog, we’ll guide you through the basics and help you grasp the fundamental ideas behind Web 3.0 and #cryptocurrencies .

1.Understanding Web 3.0:

Web 3.0, often called the “decentralized web,” represents the next generation of the internet. Unlike Web 2.0, which mainly focuses on user-generated content and centralized platforms, Web 3.0 aims to give power back to users by emphasizing decentralization, privacy, and data ownership. It envisions a web where individuals have greater control over their online experiences and can interact peer-to-peer without relying on intermediaries.

2. Exploring Cryptocurrencies:

Cryptocurrencies are digital or virtual currencies that use cryptography to secure transactions and control the creation of new units. Bitcoin, the first and most well-known cryptocurrency, gained global attention, but it was only the beginning. There are now thousands of cryptocurrencies, each with its own unique features and purposes. Cryptocurrencies operate on decentralized networks called transparent blockchains immutable ledgers that record all transactions.

3. The Role of Cryptocurrencies in Web 3.0:

Cryptocurrencies play a vital role in enabling Web 3.0. They facilitate secure and transparent peer-to-peer transactions, removing the need for traditional intermediaries such as banks or payment processors. By utilizing cryptocurrencies, Web 3.0 aims to create #decentralized applications (DApps) that are resistant to censorship and control, offering users greater privacy and control over their data. Cryptocurrencies provide the economic infrastructure for these applications, incentivizing participants and enabling value exchange within the decentralized ecosystem.

4. Benefits of Web 3.0 and Cryptocurrencies:

Web 3.0 and cryptocurrencies offer several advantages:

a. Decentralization: Web 3.0 aims to eliminate the dominance of centralized entities, fostering a more open and democratic internet where power is distributed among users.

b. Privacy and Security: Cryptocurrencies utilize cryptographic techniques to ensure secure transactions and protect user data, enhancing privacy and reducing the risk of data breaches.

c. Ownership and Control: With Web 3.0, individuals have greater control over their data and digital assets. Cryptocurrencies enable true ownership and the ability to transact directly without relying on intermediaries.

d. Global Accessibility: Cryptocurrencies are accessible to anyone with an internet connection, providing financial services to the unbanked and underbanked populations worldwide.

As Web 3.0 continues to evolve, cryptocurrencies will remain a fundamental component of the decentralized web. They empower users, enable secure transactions, and foster innovation in various fields. By understanding the relationship between Web 3.0 and cryptocurrencies, you can navigate this transformative landscape and be part of shaping the future of the Internet. Embrace the decentralized web and explore the exciting possibilities that lie ahead!
McDonald's Hong Kong Celebrates 40 Years of McChicken with Web3 Technology in McNuggets Land!McDonald's Hong Kong is taking a technological leap to celebrate the 40th anniversary of McChicken in a memorable way by offering its customers the first-ever Web3 experience using The Sandbox platform. This development further showcases the brand's pioneering role in integrating technology into its marketing strategies. McNuggets Land, a virtual world, invites users to an entertaining adventure, taking a significant step towards the mass adoption of the Metaverse. McNuggets Land: An Unforgettable Adventure in the Virtual World: McNuggets Land is a virtual world created within The Sandbox platform. In this virtual world, users are invited to visit a mysterious factory and explore the history of chicken snacks. By following the 40-year journey of McChicken step by step, users embark on a unique journey into the history of McDonald's. Virtual Store and Avatar Customization: McNuggets Land offers users the opportunity to shop in a virtual store. Thanks to The Sandbox platform, users can earn rewards, purchase virtual products, and customize their avatars for unique experiences. These customization options allow users to express themselves uniquely within this virtual world, providing them with entertaining experiences. #Web3.0 Rewards and SAND Token: Completing tasks in McNuggets Land will reward users with The Sandbox platform's native token, SAND, among other rewards. SAND tokens enable users to access other experiences within the virtual world and make virtual purchases. McDonald's continues to leverage Web3 technologies to establish strong connections with its customers and provide them with authentic experiences. Sebastien Borget's Comments: Sebastien Borget, the co-founder, and COO of The Sandbox, highlighted in his statement about this partnership that the collaboration with McDonald's elevates The Sandbox platform to a whole new level and takes a significant step towards the mass adoption of the Metaverse. This partnership showcases how the brand uses technology to engage with its customers and offer innovative experiences. In Summary: McDonald's Hong Kong is creating a virtual world called McNuggets Land using The Sandbox platform to celebrate the 40th anniversary of McChicken. This exclusive experience invites users to an entertaining adventure and marks an important step towards the widespread acceptance of the Metaverse. Users will have unforgettable moments exploring the mysterious factory and shopping in the virtual store within McNuggets Land. McDonald's Hong Kong's Web3 experience establishes a strong bond between the brand and its customers, providing an exciting entry into the future of the digital world. #SAND #SANDBOX $SAND

McDonald's Hong Kong Celebrates 40 Years of McChicken with Web3 Technology in McNuggets Land!

McDonald's Hong Kong is taking a technological leap to celebrate the 40th anniversary of McChicken in a memorable way by offering its customers the first-ever Web3 experience using The Sandbox platform. This development further showcases the brand's pioneering role in integrating technology into its marketing strategies. McNuggets Land, a virtual world, invites users to an entertaining adventure, taking a significant step towards the mass adoption of the Metaverse.

McNuggets Land: An Unforgettable Adventure in the Virtual World:

McNuggets Land is a virtual world created within The Sandbox platform. In this virtual world, users are invited to visit a mysterious factory and explore the history of chicken snacks. By following the 40-year journey of McChicken step by step, users embark on a unique journey into the history of McDonald's.

Virtual Store and Avatar Customization:

McNuggets Land offers users the opportunity to shop in a virtual store. Thanks to The Sandbox platform, users can earn rewards, purchase virtual products, and customize their avatars for unique experiences. These customization options allow users to express themselves uniquely within this virtual world, providing them with entertaining experiences. #Web3.0

Rewards and SAND Token:

Completing tasks in McNuggets Land will reward users with The Sandbox platform's native token, SAND, among other rewards. SAND tokens enable users to access other experiences within the virtual world and make virtual purchases. McDonald's continues to leverage Web3 technologies to establish strong connections with its customers and provide them with authentic experiences.

Sebastien Borget's Comments:

Sebastien Borget, the co-founder, and COO of The Sandbox, highlighted in his statement about this partnership that the collaboration with McDonald's elevates The Sandbox platform to a whole new level and takes a significant step towards the mass adoption of the Metaverse. This partnership showcases how the brand uses technology to engage with its customers and offer innovative experiences.

In Summary:

McDonald's Hong Kong is creating a virtual world called McNuggets Land using The Sandbox platform to celebrate the 40th anniversary of McChicken. This exclusive experience invites users to an entertaining adventure and marks an important step towards the widespread acceptance of the Metaverse. Users will have unforgettable moments exploring the mysterious factory and shopping in the virtual store within McNuggets Land. McDonald's Hong Kong's Web3 experience establishes a strong bond between the brand and its customers, providing an exciting entry into the future of the digital world. #SAND #SANDBOX $SAND
Web 3.0 Gaming Isn’t Just About Asset OwnershipPeople think they know the value of Web 3.0 gaming – that it’s all about users owning their own in-game assets as non-fungible tokens (NFTs). This view is the most common misperception in the space, and it’s flat-out wrong. Ownership matters, but limiting the value of #Web3.0 gaming to ownership misses the full picture – the potential for blockchain-based incentives to expand the gaming industry beyond even its current size. The innovation that is getting far less attention could be far more valuable – a world of monetization models for gamers, game builders and the communities that support them. Right now, game developers have limited points of sale to reach both experienced gamers and casual ones. They may sell their game through a console, an app store or a service like Steam, for example. But what if they could multiply their storefronts to include the entire internet, monetizing thousands and thousands of virtual spaces? Consider the possibilities for developers if they were able to capture not just the new game market – but also the secondary resale market so that they receive a portion back for each new user interacting with the game. Games built on the blockchain are able to access a market so much larger than their current one, giving creators the ability to reach far more than they previously could. It’s the difference between only being able to sell your game in a closed system, such as a single app store, and being able to sell it through a Shopify site that can integrate with every app and marketplace on the internet. Consider this year’s League of Legends World Finals, where VIP guests were given a badge that, on the front of it, gave an ominous warning – anyone who sold or transferred that badge to another person would be immediately banned from the event. That’s the current gaming economic model, intensely focused on keeping as strict a user moat, and as tight control over your closed game ecosystem, as possible. Under a more open, blockchain-enabled economic model, you could create that VIP badge as an #NFTs . Event organizers, instead of trying to restrict access, could instead let VIP holders sell that ticket to anybody, and each time it sold, the organizers would earn another five percent of that ticket – resale value they weren’t able to harness before. Smart contract-enforced royalties allow creators to receive compensation each time their digital assets are bought, sold or traded, ensuring fair compensation and long-term benefits – an economic innovation most game developers could benefit from. NFT assets are good for the gamer/purchaser of that NFT. If the owner no longer has use for it, then they can get a portion of their money back. And those blockchain assets are also good for the devs, who get that royalty, allowing them to monetize their assets wherever things are sold, while also making it easier for them to grow their community of supporters. Although most prominent Web 2.0 games feature in-game digital currencies, they lack the economic guarantees inherent to Web 3.0 games, such as publicly accessible information on quantity, inflation and reward schedules. Expanding the possibilities of in-game asset ownership If you own an NFT, you also own a history of that ownership and all the traits of that asset are stored on the blockchain. If you are playing a Web 2.0 game, then you do not ‘own’ anything you earn or purchase in the game, outside of that game server. This essentially makes all game assets temporary ‘IOUs’ from game developers – and particularly nebulous ones, since in-game currencies or assets often collapse as soon as the server/game they exist in is no longer supported by its makers. Future generations of gamers are likely to prioritize true ownership of digital assets that NFTs offer over the mere IOUs provided by centralized Web 2.0 servers. And that is a truly valuable proposition for those gamers and game developers interested in playing and building on the blockchain – especially when combined with the expanded economic models for gaming made possible by the advent of blockchain.

Web 3.0 Gaming Isn’t Just About Asset Ownership

People think they know the value of Web 3.0 gaming – that it’s all about users owning their own in-game assets as non-fungible tokens (NFTs).

This view is the most common misperception in the space, and it’s flat-out wrong. Ownership matters, but limiting the value of #Web3.0 gaming to ownership misses the full picture – the potential for blockchain-based incentives to expand the gaming industry beyond even its current size.

The innovation that is getting far less attention could be far more valuable – a world of monetization models for gamers, game builders and the communities that support them.

Right now, game developers have limited points of sale to reach both experienced gamers and casual ones. They may sell their game through a console, an app store or a service like Steam, for example.

But what if they could multiply their storefronts to include the entire internet, monetizing thousands and thousands of virtual spaces?

Consider the possibilities for developers if they were able to capture not just the new game market – but also the secondary resale market so that they receive a portion back for each new user interacting with the game.

Games built on the blockchain are able to access a market so much larger than their current one, giving creators the ability to reach far more than they previously could.

It’s the difference between only being able to sell your game in a closed system, such as a single app store, and being able to sell it through a Shopify site that can integrate with every app and marketplace on the internet.

Consider this year’s League of Legends World Finals, where VIP guests were given a badge that, on the front of it, gave an ominous warning – anyone who sold or transferred that badge to another person would be immediately banned from the event.

That’s the current gaming economic model, intensely focused on keeping as strict a user moat, and as tight control over your closed game ecosystem, as possible.

Under a more open, blockchain-enabled economic model, you could create that VIP badge as an #NFTs .

Event organizers, instead of trying to restrict access, could instead let VIP holders sell that ticket to anybody, and each time it sold, the organizers would earn another five percent of that ticket – resale value they weren’t able to harness before.

Smart contract-enforced royalties allow creators to receive compensation each time their digital assets are bought, sold or traded, ensuring fair compensation and long-term benefits – an economic innovation most game developers could benefit from.

NFT assets are good for the gamer/purchaser of that NFT. If the owner no longer has use for it, then they can get a portion of their money back.

And those blockchain assets are also good for the devs, who get that royalty, allowing them to monetize their assets wherever things are sold, while also making it easier for them to grow their community of supporters.

Although most prominent Web 2.0 games feature in-game digital currencies, they lack the economic guarantees inherent to Web 3.0 games, such as publicly accessible information on quantity, inflation and reward schedules.

Expanding the possibilities of in-game asset ownership

If you own an NFT, you also own a history of that ownership and all the traits of that asset are stored on the blockchain.

If you are playing a Web 2.0 game, then you do not ‘own’ anything you earn or purchase in the game, outside of that game server.

This essentially makes all game assets temporary ‘IOUs’ from game developers – and particularly nebulous ones, since in-game currencies or assets often collapse as soon as the server/game they exist in is no longer supported by its makers.

Future generations of gamers are likely to prioritize true ownership of digital assets that NFTs offer over the mere IOUs provided by centralized Web 2.0 servers.

And that is a truly valuable proposition for those gamers and game developers interested in playing and building on the blockchain – especially when combined with the expanded economic models for gaming made possible by the advent of blockchain.
Exploring the Potential of Web3 Messaging: Will it Challenge WhatsApp and iMessage? Web3 messaging is an emerging technology that holds the promise of transforming the way we communicate. While it is premature to determine if it will entirely replace popular messaging platforms like WhatsApp and iMessage, it brings forth exciting possibilities and unique advantages. In a recent interview, the co-founder of pXMTP, a leading #Web3.0 messaging protocol, sheds light on the potential and key features of Web3 messaging. Enhanced Privacy, Security, and Control: Web3 messaging leverages decentralized technologies and encryption to offer users enhanced privacy, security, and control over their data. By operating on decentralized networks, Web3 messaging eliminates the reliance on central intermediaries, ensuring that messages and conversations are not stored on centralized servers. This decentralized approach makes them more resistant to censorship and surveillance, empowering users to have greater control over their information. Seamless Integration with Decentralized Applications: One of the key advantages of Web3 messaging is its seamless integration with decentralized applications (dApps) and smart contracts. Users can engage in peer-to-peer transactions, share assets, and interact with various blockchain-based services directly within the messaging platform. This integration opens up new possibilities for seamless and secure interactions, enabling users to harness the power of decentralized technologies in their everyday communication. Challenges and Considerations: While Web3 messaging shows great potential, several challenges need to be addressed for widespread adoption. User experience, scalability, and interoperability with existing messaging platforms are crucial factors that will influence its success. Additionally, mainstream adoption will require raising awareness and understanding of decentralized technologies among the general public. The Future of Messaging: While it remains uncertain whether Web3 messaging will fully replace WhatsApp and iMessage, it presents an alternative that aligns with the principles of decentralization and user empowerment. Its focus on privacy, security, and control resonates with an increasing demand for more secure and private communication methods. The future of messaging might be shaped by the emergence of Web3 technologies, leading to a more decentralized and user-centric communication landscape. Conclusion: Web3 messaging offers an exciting vision for the future of communication, emphasizing enhanced privacy, security, and user control. While its potential impact on WhatsApp and iMessage is yet to be determined, the growing interest in decentralized technologies and the desire for more secure communication methods create opportunities for Web3 messaging to thrive. As the technology continues to evolve and overcome challenges, we can expect it to play a significant role in shaping the future of messaging. $BNB $BTC #crypto2023 #blockchains Remember that the cryptocurrency market is highly volatile and subject to rapid changes. It's important to conduct thorough research, stay updated with the latest news, and exercise caution when making investment decisions.

Exploring the Potential of Web3 Messaging: Will it Challenge WhatsApp and iMessage?

Web3 messaging is an emerging technology that holds the promise of transforming the way we communicate. While it is premature to determine if it will entirely replace popular messaging platforms like WhatsApp and iMessage, it brings forth exciting possibilities and unique advantages. In a recent interview, the co-founder of pXMTP, a leading #Web3.0 messaging protocol, sheds light on the potential and key features of Web3 messaging.

Enhanced Privacy, Security, and Control:

Web3 messaging leverages decentralized technologies and encryption to offer users enhanced privacy, security, and control over their data. By operating on decentralized networks, Web3 messaging eliminates the reliance on central intermediaries, ensuring that messages and conversations are not stored on centralized servers. This decentralized approach makes them more resistant to censorship and surveillance, empowering users to have greater control over their information.

Seamless Integration with Decentralized Applications:

One of the key advantages of Web3 messaging is its seamless integration with decentralized applications (dApps) and smart contracts. Users can engage in peer-to-peer transactions, share assets, and interact with various blockchain-based services directly within the messaging platform. This integration opens up new possibilities for seamless and secure interactions, enabling users to harness the power of decentralized technologies in their everyday communication.

Challenges and Considerations:

While Web3 messaging shows great potential, several challenges need to be addressed for widespread adoption. User experience, scalability, and interoperability with existing messaging platforms are crucial factors that will influence its success. Additionally, mainstream adoption will require raising awareness and understanding of decentralized technologies among the general public.

The Future of Messaging:

While it remains uncertain whether Web3 messaging will fully replace WhatsApp and iMessage, it presents an alternative that aligns with the principles of decentralization and user empowerment. Its focus on privacy, security, and control resonates with an increasing demand for more secure and private communication methods. The future of messaging might be shaped by the emergence of Web3 technologies, leading to a more decentralized and user-centric communication landscape.

Conclusion:

Web3 messaging offers an exciting vision for the future of communication, emphasizing enhanced privacy, security, and user control. While its potential impact on WhatsApp and iMessage is yet to be determined, the growing interest in decentralized technologies and the desire for more secure communication methods create opportunities for Web3 messaging to thrive. As the technology continues to evolve and overcome challenges, we can expect it to play a significant role in shaping the future of messaging. $BNB $BTC

#crypto2023 #blockchains

Remember that the cryptocurrency market is highly volatile and subject to rapid changes. It's important to conduct thorough research, stay updated with the latest news, and exercise caution when making investment decisions.
Huang Keqiang, CEO of the Hong Kong Advanced Science and Technology Industrial Park (HKIST), in an interview with Securities Times, revealed plans to launch a 'virtual shared laboratory' aimed at fostering data sharing and specific Web 3.0 development processes. He stated, "Shared labs attract startups lacking facilities. This year, we launched a shared lab to support development in semiconductors, biotech, robotics, and big data, and the response was positive." This initiative signals HKIST's dedication to nurturing tech innovation. #HKIST #Web3.0 #sharedlabs #techinnovation #HongKong
Huang Keqiang, CEO of the Hong Kong Advanced Science and Technology Industrial Park (HKIST), in an interview with Securities Times, revealed plans to launch a 'virtual shared laboratory' aimed at fostering data sharing and specific Web 3.0 development processes. He stated, "Shared labs attract startups lacking facilities. This year, we launched a shared lab to support development in semiconductors, biotech, robotics, and big data, and the response was positive." This initiative signals HKIST's dedication to nurturing tech innovation.

#HKIST #Web3.0 #sharedlabs #techinnovation #HongKong
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