What is Web3?
Read, Write, and Own. Simply put, Web3 enables users to own their personal data through blockchain encryption technology. It frees users from the information monopoly by tech giants, gets rid of middlemen, and brings the value of data back to individuals.
Core Features of Web3
1. Decentralization: The history of Web1.0 going for decentralization, Web2.0 pursuing centralization and Web3.0 returning to decentralization again have proven the necessity of decentralization. In an Internet that is free of centralized information control, the ownership of Web3 builders and users will be allocated again.
2. Permissionless: Independent individuals have equal opportunities to participate in Web3.
3. Cryptocurrency-enabled: Cryptocurrency usage is a key feature of Web 3.0 services and there is no need to rely on a third party.
4. Trustless: An incentive mechanism is adopted to complete sustainable operations, and third parties are no longer depended on.
Today, many projects on the Internet attach a Web3 label to themselves, but it is not as easy as they have imagined to realize the vision of Web3. How to break away from the information control by tech giants? How to solve the problem of decentralized transfer of ownership in the entire NFT industry? Only truly decentralized storage can ensure the reliable encryption of user data.
DMC: The first decentralized Web3 infrastructure based on CYFS
What does Web3 need? The answer is a truly decentralized infrastructure DMC. Its "matchmaking list" is what we call the consensus list. On this list, storage demanders can publish their storage needs, while suppliers can provide their storage capacity. When there is a demand, matching can be made according to the rules. The matched demander and supplier need to provide a "storage delivery certificate" to get rewards. According to the supply and demand situation (i.e. oversupply or short supply) on the list, the system will also provide more "pending" liquidity rewards for the deficient party. In this way, both the storage demander and the storage supplier can make free choices to ensure fair trading and reasonable pricing, thus forming a decentralized storage exchange.
Technically, DMC supports not only the "space-time proof" on the traditional chain, but also the offline "storage service proof" of CYFS-based flash payment. Service proof technology has put forward the theory of shared cloud computing. In line with the principle of "matters are only put on the chain when there is dispute". In more than 90% of the normal delivery scenarios, no handling charges will be needed, thus truly reducing the cost of decentralized storage and improving the speed of delivery. Moreover, CYFS includes address-based decentralized storage that is much faster than DHT-based decentralized storage systems and is infinitely scalable.
CYFS: The basic Internet protocol for Web3
CYFS is a next-generation technology that reinvents basic Web protocols — TCP/IP, DNS, and HTTP — to create the infrastructure necessary for complete decentralization of Web3. With CYFS, everyone will be able to own, control, and monetize their own data. Applications built on CYFS will also be completely decentralized: developers will have the ability to publish and update applications, and users have the ability to use applications permanently. CYFS has been architected from the ground-up to be not only completely decentralized, but also infinitely scalable and fast. CYFS has been developed over the past 7 years, and it was open-sourced in June, 2022. To learn more about CYFS and to get involved in the CYFS project, please see their blog https://www.cyfs.com/blog-CYFS-Next-generation-Technology-to-Build-Real-Web3
With the partnership between DMC and CYFS, people will enjoy the benefits of decentralized storage facilities jointly created by DMC and CYFS, so that the value of data can truly return to the people.
