You are currently viewing Staring out of the cage, the giant gave a deep sigh at the new wilderness |  by Trias |  Coinmonks |  Sep 2022

Staring out of the cage, the giant gave a deep sigh at the new wilderness | by Trias | Coinmonks | Sep 2022

Traditional Internet companies are shackled like caged beasts when pursuing Web 3.0 and have nowhere to escape. Powerful hands stretch out for this blue ocean but only find themselves in a resigned situation.

Local policies still call for upgrades as countries are learning to live with Web 3.0. Large applications are not fully decentralized in a yet premature Web 3.0 era. Talented people and applications find it tough to get through the transition for the lack of thoughtful solutions in a slightly inclusive Web 3.0 era.

Old-schooled powerhouses are seeking to hop on the fast train of Web 3.0, a delicious cake rather hard to swallow. Web 3.0 builders, however, prefer to develop new projects running with new smart contracts on Ethereum, an easy yet profitable choice. Thus, the ecosystem of major public chains stands out as an underlying woe for these Internet companies to run large applications.

Take Ethereum as an example, consensus has to be reached among tens of thousands of nodes as any logic execution is eventually confirmed, even if the Solidity programming language’s support for the traditional application development ecosystem and the limitation on the calculation number of contracts are not taken into account, with all calculation logics in an application written into smart contracts. This work happens slowly but is costly for even one on-chain calculation. Can you imagine when it takes you over ten minutes to take a step and a dozen bucks to execute during a metaverse dive? No one likes that.

We are all familiar with this trap. Years of continuous efforts have given birth to various speedy new techs, such as fragmentation, side chain, status channel, Layer 2, new consensus mechanism, etc. Spiked throughput drags applications like DeFi and NFT out of the dilemma of slow transactions and high fees. The blockchain ecosystem is revived as benefits buy users back.

We are not saying it is impractical. We believe that large applications may be built up from zero on public chains with storage space as big as possible and processing speed as fast as that in centralized days someday when businesses can find what they need.

Today, public chains still seem immature when it comes to traditional large-scale, complex, and high-frequency computing applications such as games, e-commerce, and social networks. The existing best-performed public chains may be at sea to carry even one single large multi-player online application if all computing logic is run on the chain.

Traditional enterprises focus on how to enter the market and take a bite of the Web 3.0 market cake with their existing products and businesses, rather than pioneering new grounds with newly hired Web 3.0 teams.

That explains why we are saying that the employment of Web 3.0 does not indicate an on-chain rewrite at the expense of abandoning Web 2.0. Web 3.0 creates an upgraded plan that integrates software and applications of traditional Internet enterprises with Web 2.0 techs included and enhanced.

NetX and Ethanim are introduced to ensure smooth entry and visualization of these applications to the Web 3.0 world. We aspire to achieve similar performance and user experience levels for large decentralized applications as their centralized counterparts, with preserved security, through technologies estranged from current blockchain platforms. These immortal blockchains say goodbye to the low-speed transaction, low concurrency, inability to support large-scale complex computing, etc. Details will be dealt with in later articles.

Caged beasts always crave a wild run. A fresh wild land will surely grow out of Web 3.0 that embraces feverish traditional Internet companies. Technological barriers will definitely be solved with the help of Ethanim, the brave man who unlocks the cage.

Ethanim series-1 | Ethanim series-2 | Ethanim series-3 | Ethanim series-4

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