Every month, countless blockchain projects challenge the status quo of the Web 2.0 with the intent of decentralizing a certain industry that is twined into the internet.
However, not a single project has delivered upon this goal as it has been held back by the blockchain trilemma.
For decentralized applications to be delivered to the masses, scalability and security have to be maintained. Present blockchain infrastructures fail to simultaneously deliver all three factors and thus the applications built upon them cannot decentralize the industries they target either due to inability to support network demand, lack of security, or the ironic centralized state of the network they are built upon.
To set the standard anew, 2Key has built a second layer solution to support its application.
Introduction to 2Key
2Key is both a protocol and an application. The application is designed to disrupt the digital ad sector. The development adds a smart contract to the standard HTML links we share across the web.
An HTML link allows web users to be directed to particular addresses on the internet. Smart contracts enable the automation of certain if-then clauses with the capacity of transferring value.
2Key uses a number of patented technologies which allow the real-time tracking and recording of the path a link takes from person to another.
By binding a smart contract into an HTML link, 2Key is able to recognize the people who are playing a role in the movement of a link.
With a simple dashboard, every link's lifecycle can be viewed, along with the address of the person who held it.
There sheer idea that any link's movement can be tracked inreal-time is mind-boddling!
Eventually, most web links lead to a business decision—a purchase, an investment, or even a donation. At present, the generation of the web’s business decisions are monetized by a handful of tech companies that claim the entire portion of the ad pie.
2Key enables you, me, and everyone else to seamlessly have our mark on every link we share so that if it ever leads to a business decision, we are rewarded. Digital word of mouth happens in the form of link sharing and 2Key is ensuring that everyone is able to benefit from this economic activity so that the need for centralized advertisement provider is no longer needed.
A Gradual Process
It may be odd to see that a project that is hinged upon decentralizing the web ad sector is integrating so seamlessly into the Web 2.0. The reality is that this is the path every blockchain project should have taken. Shifting the internet from a centralized state to a decentralized one must be a gradual process; 2Key’s development has taken this into account.
The web will not be decentralized in a single day, week, or month. It will take time.
Thus, 2Key’s technology is designed to be integrated into one of the most fundamental aspects of the web 2.0: HTML links. As everyone is attuned to using and sharing links, twining a blockchain solution into links nullifies the need to become acquainted with the technical aspects of blockchain technology and yet still enables anyone to benefit from it.
Ease of use is a value provision often missed by developments in this space.
By ensuring a Web 3.0 solution is compatible with Web 2.0 norms, 2Key is able to give people a decentralized solution packaged as something they are familiar with, thus lowering the barriers to pulling them into the decentralized space and giving them the opportunity to earn their first cryptocurrency: 2KEY tokens.A Novel Infrastructure
2Key is strategized to penetrate the masses by delivering a blockchain solution in a format they are familiar with. However, as stated earlier, even the most vehement and well-delivered proponents of decentralization are unable to achieve their goals as the underlying infrastructure—the blockchains—are not ready to deliver change at mass scale.
Thus, 2Key’s capacity to recreate the web link has been built on its own new scalability layer.
While Ethereum is the most decentralized smart contract network, it lacks scalability. The blockchain is infamous for facing bottlenecks at the mere popularity of a single game. Understandable, in its present state, the network cannot handle a wide-scale delivery of decentralized solutions.
Thus, 2Key has built its own scalability layer atop the blockchain. The protocol is designed to enhance network scalability by enabling value transfer through its native smart links. The technology has the capacity to deliver raw transactions at a far better throughput than the current capacity of the Ethereum blockchain.
Thus, the applications that can be built upon it are the future of the Ethereum network. 2Key’s recreation of the web links is simply a testament of the protocol’s capability to be a functioning solution.
Proper Execution needs a Proper Strategy
2Key is the first project to recognize all necessities that must be met before delivering challenging the centralized state of the web. The solution must be compatible with both Web 2.0 and Web 3.0 so that people may have a single resource with which they can gradually shift from being part of a centralized web to being part of a decentralized. Further, the solution must be delivered upon an infrastructure that effectively resolves the blockchain trilemma.
2Key’s testnet is already live and it gives a stunning preview of the incredible possibilities that can be achieved by letting the world yield the rewards by from the business-driving web shares they already participate in every day.
This piece only conveys an introduction to the 2Key network. Follow-up articles will delve deeper into the technological intricacies of the 2Key protocol and how it achieves scalability and security without hampering decentralization, and a walk-through of the technology behind 2Key’s smart links and how they effectively distribute each person’s share in enabling a business decision from the mere share of a link.
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Love Smart Contracts- taking out that g damn middleman. Great read. Thanks for sharing
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Cool.. You've got some interesting information that are of benefit.
I'm glad I came across your post and I've understood some stuff.
Thanks @hatu
Wow. This is really something amazing and unlike anything I have heard.
Must keep following this stuff!
This article is fantastic, great use of language and a very intelligent.
I am understanding decentralization more and more each day, with post's like this everyone can get involved and become more clued up to the benefits of smart contracts.
Thank you.
An open standard supported by many would probably be better suited for widespread use than a patent-based solution. Especially in a blockchain based universe.
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It's an open source project and is accessible for developers aiming to integrate the technology or build upon it. The patent simply limits people from forking it; it's completely open for public use.
And even the patents are there for a short time only. The goal is to establish a new, inclusive and democratized paradigm of value generated from link sharing. The patents last for just enough time to build a foundation.
Wut?
Steem is delivering. Also, I believe this project has an issue with it’s target market, the actual competition is trackable-shortlink services like bit.ly; which provide a wealth of valuable metrics to affiliate marketers.
Cheers 🍻!BEER
Thanks for pointing that out.
All the key metrics that go into shortlink services like bit.ly are built into the smart link. In fact, given that it even accounts for wallets (addresses), it gives more insight than any shortlink service.
Interesting publication, something new to learn. This shows that technology is taking over the world, hopefully we can enjoy this in a healthy and productive way.
@hatu, In this phase if see the Introduction of Protocol which is entering into the AD Sector then this sounds really effective news.
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Interesting take
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Thanks. :)
To view or trade
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Nice
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Very nice!
Dear @hatu
Interesting read. I've never heard about this project till now.
I also believe that mass adoption require mostly simplicity. People do not care so much about their privacy or safety. They mostly want things to be easy and convinient.
ps. did you consider using SteemLeo tag? Your topic fits perfectly well with that platform.
Yours
Piotr
This is interesting. Working in web dev I'm always fascinated to stumble upon new ideas and ways to achieve our goals. I'd be curious to testnet something like this.
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For some reason, I don't believe in a solution geared towards advertising. Personal experience speaks that this niche is either to stagnated to move on or already satisfied with existing "blockchain-based" ad networks.
Thanks for the post.
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