Web3 is the internet of blockchain. It is the Read-write-own age of the internet. Xinfin Devs are proving the network as a blockchain internet with exciting infrastructures. Web1 is the write-only internet that lasted from 1990 till 2004 when developers built static websites. Web2 came in 2004 till now. It is the read-write internet phase where non-developers use tools to build interactive web apps. With the emergence of Ethereum in 2014 came Web3.
Web3 was idealized by Ethereum devs. The mindset was to build an internet that interacts efficiently with the blockchain on different levels. Web3 means different things to different people but the idea is based on an internet-of-blockchain.
But is it possible to have the internet on the blockchain?
Xinfin Basic Infrastructures for Web3
A blockchain internet needs a few basic infrastructures that must work together:
- A storage means
- A means to interact with the Real World (Oracles)
- An indestructible or ownable identity
- A means of Exchange
Xinfin's (XDC) architecture was designed to support an internet of blockchain. This Is why it is no surprise that D'Apps to fill these four pillars are already operational on the network.
1. A Storage Means for Web3- Xinfin's Storx
source
Storx is a decentralized cloud storage service built on the XDC network. It allows users to store their files online via many nodes available on the platform. When a user creates an account (email and password), they effectively create a public and private key pair. The key pairs are used as identifiers or authenticators for the files they upload. When a file is uploaded, the file is encrypted and then divided into chunks and saved across different nodes on the platform. This way a node provider does not have access to any file stored by any user. To retrieve the file, the key pair attached to the user's account is used to combine and decrypt the file.
Because of the sensitivity of the services provided, node providers are given stringent (in terms of up-time) laws to abide by. They have to stake STORX tokens (SRX) to ensure they will not act maliciously to jeopardize the safety of the network. A malicious node faces a slash in the staked tokens and a low reputation which affects rewards. Node providers earn SRX from users who store files.
According to metrics on the Storx website, there are about 117,000 users and 5,000 storage
Posted from my blog with Exxp : https://cryptostocksreviews.org/4-web3-infrastructures-on-xinfin-network-that-justifies-it-as-a-blockchain-internet/news/