At the FINTECH 2022 Scottish Fintech Summit that just ended on September 15, in addition to professional issues, everyone was discussing a core issue, which is the future trend of WEB3.
Hello everyone, Web3, as the next generation of Internet products, is getting closer and closer to us.
At this conference, I found a product CNS with great investment value, and it was favored by a lot of capital.
Let me briefly introduce the origin of WEN3
What is Web3?
Web3 has become an all-encompassing term that represents a vision for a new and better Internet. At the core of Web3 is the use of blockchain, cryptocurrencies and NFTs to give power back to users in the form of ownership. A 2020 Twitter thread said it best: Web1 is read-only, Web2 is read-write, and Web3 will be read-write itself.
The core idea of Web3
Although it is challenging to rigorously define what Web3 is, some core principles guide its creation.
Web3 Decentralized: Instead of a large swathe of the Internet controlled and owned by a centralized entity, ownership is distributed among its builders and users.
Web3 is permissionless: everyone has equal access to participate in Web3, no one is excluded
Web3 has native payment capabilities: it uses cryptocurrencies to spend and send money online, rather than relying on the outdated infrastructure of banks and payment processors.
Web3 is trustless: it operates using incentives and economic mechanisms rather than relying on trusted third parties.
Why is Web3 important?
While Web3’s killer features don’t stand alone or fit into neat categories, for simplicity CNS have tried to separate them to make them easier to understand. The boom in web3 also reflects the influx of capital, talent and energy into crypto startups following a years-long crypto bull run. In 2021 alone, venture capital firms have poured more than $27 billion into crypto-related projects — more than the previous 10 years combined — with most of that money going to web3 projects. Some big tech companies, such as Twitter and Reddit, have also started experimenting with their own web3 projects. The industry has become a magnet for tech talent , with many employees of large tech companies quitting their easy, steady jobs to find their fortunes in web3.
ownership
Web3 gives people ownership of digital assets like never before. For example, let’s say people are playing a web2 game. If customers purchase an in-game item, it is tied directly to their account. If the game creator deletes their account, they will lose these items. Alternatively, if they stop playing the game, they will lose the value invested in in-game items.
Web3 allows direct ownership through non-fungible tokens (NFTs) . No one, not even the creator of the game, has the power to take away their ownership. And, if they stop playing, they can sell or trade their in-game items on the open market and get their value back.
Identity DID
Traditionally, people would create an account for each platform their use. For example, they might have a Twitter account, a YouTube account, and a Reddit account. Want to change their display name or profile picture? They must do this on every account. In some cases, people can use social logins, but this introduces a familiar problem – censorship. With just one click, these platforms can lock people out of their entire online life. To make matters worse, many platforms require people to trust their personally identifiable information in order to create an account.
Web3 solves these problems by allowing people to control their digital identity using an Ethereum address and an ENS profile. Using an Ethereum address provides secure, censorship-resistant, and anonymous single sign-on across platforms.
CNS is the only decentralized identity ID built on WEB3. For example: web3.coin. It is both a domain name, an NFT, an email address, and an account for transaction transfers. It is given so much because CNS has established a Unique ID credential on the chain. It is inclusive and can resolve WEB2 domain names, social account links, etc., and it can also send traditional emails to web2 email addresses. This is a very cool thing.
native payment
Web2’s payment infrastructure relies on banks and payment processors, excluding people who are unbanked or who happen to live in the wrong country. Web3 uses tokens like ETH to send money directly in the browser without the need for a trusted third party.
accessibility
Anyone can use important Web3 features at zero cost, such as logging in with Ethereum. However, the relative cost of transactions remains prohibitive for many. Web3 is unlikely to be used in less affluent developing countries due to high transaction fees. to make Web3 accessible to everyone.
Centralized Infrastructure
The Web3 ecosystem is young and growing rapidly. As such, it currently relies mostly on centralized infrastructure (GitHub, Twitter, Discord, etc.). Many Web3 companies are scrambling to fill these gaps, but building high-quality, reliable infrastructure takes time.
Decentralized future
Web3 is a young and growing ecosystem. Gavin Wood coined the term in 2014, but many of these ideas have only recently become a reality. The last year alone has seen a huge increase in interest in cryptocurrencies, improvements in layer 2 scaling solutions, large-scale experiments with new forms of governance, and a revolution in digital identity.
CNS just starting to use Web3 to create a better web, but the future of the web looks bright as CNS will continue to improve the infrastructure that supports it.
CNS regards WEB3 as a dream builder with a lifelong career
At the conference, the co-founder of CNS gave an overview of web3, and elaborated on the products and future development of CNS.
The full name of CNS is CNS (Coin Name Service), which is composed of three basic frameworks, namely domain name, decentralized mailbox, and decentralized blog.
Decentralized digital identity is another key component of the metaverse development after digital assets. DID is the core component of the Metaverse. The identity model of the traditional Internet fragmentation and lack of user control can no longer meet the development of the digital world. Decentralized identity DID will be an important infrastructure direction of the Metaverse. In our metaverse model, digital assets have begun to be accepted by users with the emergence of NFTs, and the digital social relationship centered on digital identity will be the second half of the metaverse interpretation.
CNS (Coin Name Service) WEB3 ID service is a naming protocol based on open source blockchain. It is an important infrastructure builder for WEB3.
.coin was founded in early 2021. The founding team is from the world’s top investment banks and early members of Ethereum. It will operate independently in 2022. .coin is managed by UK Clone Labs and UK fund COINAME and is part of the third generation internet infrastructure.
Coiname Fund operates ecological products including CNSC-MAILC-BLOG. The three rely on each other to provide core competitiveness for the joint construction of WEB3 ecology and brand.
.coin is an open source protocol based on Binance Chain. .coin provides a project data source for DAPP users. However, it also provides the infrastructure of cross-chain domain names, and users can switch between multiple chains. COIN domain name NFT.
.COIN provides a unique WEB3 name suffixed with .coin, which can be used for encrypted asset transfer, domain name resolution, identity authentication, anonymous mailbox, NFT transaction and other scenarios. As a decentralized account identity system, users can have complete control and usage rights of .coin accounts through a CNS.
Another key product C-mail has to be mentioned here. The following is a summary of the core content of the conference:
C-mail
Cmail is the first mail application based on Web3.0 technology, which integrates NFT (every account is NFT) and distributed storage functions. Cmail lowers the threshold for users and developers to participate in the encrypted world by enabling undifferentiated information transmission between traditional mail and blockchain mail, so users can use the blockchain like the Internet. C-MAIL breaks the cross-border Chain Barrier is the world’s first multi-chain mailbox.
In addition, cmail also has functions such as mailbox, NFT, encrypted assets, subscription, IMO, airdrop, data storage, on-chain red envelopes, and wallet transaction reminders.
Cmail is a blockchain mailbox product, and has realized the function of sending emails between Cmail and traditional mailboxes. Therefore, compared with traditional mailboxes, Dmail with blockchain attributes can not only communicate with any mailbox, but also achieve privacy encryption of information.
Secondly, Cmail is also an NFT mailbox. The mailbox name is the identity of each user. At present, Cmail has transformed the mailbox name into NFT. In other words, each mailbox name is an NFT. In the later stage, Cmail will open an NFT trading platform, and users can freely trade NFT mailbox accounts on the premise of ensuring information security.
At the same time, Dmail is an important information communication tool prepared for Web3.0. In Cmail, in the future, information, assets, storage, DApp and other functions will be integrated to form a bridge between different applications, so that users can travel through the decentralized world with digital identities.
In general: Cmail uses the “Internet computer” Dfinity as the engine to complete the distributed storage and privacy protection of information;
Using NFT mailbox information to identify user identities and rights, realize the horizontal connection between information, assets, storage, and DApps, break data silos, and become an important information interaction tool in the Web3.0 era.
Comparing Cmail and Internet mailboxes, what are they mainly reflected in? How does it achieve decentralization?
The biggest advantage of Cmail is that it solves the problems of user privacy, data sovereignty, avoiding spam and other issues on the basis of Internet mailboxes.
In terms of data privacy protection, Cmail is reflected in:
1. Wallet address authorized login
2. Using a decentralized blockchain approach
3. Any data adopts decentralized distributed storage
4. Encrypted by Diffie-Hellman algorithm
Cmail is not only a tool, but also one of the entrances to web3. Cmail accounts can form a complete closed loop from establishment of digital identity to interpersonal communication, and become a true decentralized digital identity. This is very important for the web3 era. Cmail has opened up products such as ENS CNS and .BIT at the same time, and the domain name can be used as the cmail prefix.
As a basic communication facility in the web3.0 world, Cmail first provides digital identity DID, and Web3.0 is the infrastructure of the metaverse, so it can be simply understood as: Cmail is our “bridge to the metaverse; “Bridge” can just provide the necessary services such as information communication and asset functions for the Metaverse, and the future development space and imagination space are very huge.
Let’s disassemble the core advantages of Cmail
Multi-chain address authorization means registration, multi-wallet verification one-click login address is mailbox, domain name is mailbox
Asymmetric encrypted content transmission to ensure absolute security and privacy anonymity of email content
Emails are stored in IPFS through an encryption algorithm to ensure that email content will never be lost
Email account is NFT, which can be transferred between addresses and addresses
Send, receive or transfer encrypted assets in the wallet by mail, airdrop or IXO with one click.
Integrate with domain name ens/das/cns nft, support almost all public chains across chains, making communication smoother
Open API interface, easy access to WEB3 mailbox/domain name/third-party DAPP, ecological union, intercommunication between mailboxes, and jointly build a WEB3 ecosystem;
Cblog
If talk about the evolution of social interaction from a social perspective, the next important form of social networking must be blog. It can also be understood as decentralized Twitter.
The following is the introduction to Cblog at the conference:
The full name of C-blog (Chian blog) is a brand-new social networking method on the chain. The CBLOG protocol is built on a completely open source blockchain. It defines a new social networking method for web3, which will play a far-reaching role in the future of web3 social networking. influences. All user content is entirely managed by the user. Data is coordinated to the IPFS network.
CBLOG is a new social network built from the ground up with a custom blockchain that users can leverage on their influence and content monetization mechanisms.
There is no need for cumbersome registration process, CNS domain name or blockchain address contract is signed and registered as a BLOG member directly. Simple, secure and anonymous
Its architecture is similar to Bitcoin, but with greater scale and throughput, it can better support the complex data of social media, such as posts, user profiles, followers, speculative predictions and other functions. And like Bitcoin, C-blog is a completely open source project with no permissions behind it, only blockchain and code.
All data of Cblog is completely on-chain. And permanently saved to IPFS.
Today, a post submitted to Instagram, TikTok or Twitter belongs to those companies, not the creators who posted it. As a result, monetization mostly goes to these companies. Every company becomes a world-class company.
Cblog returns all the data of the user to the user himself, and the user becomes the master of the data. By contrast, Cblog stores all of its data on a public blockchain, meaning anyone in the world can run a node to expose their own curated feeds.
Inspired by Ethereum, Cblog will serve as a platform for social ecological construction, where users are applications. It not only supports traditional social functions such as creating profiles and posts, but also supports novel blockchain native functions such as social tokens, rewards and NFTs. Function.
Similar to blogging, which is the act of posting updates to a website, microblogging is the act of posting small updates to a stream of updates on people’s profile. People can make text posts or choose additional media such as images, audio, video, or polls. CBLOG allows people to follow friends and discover new ones.
What is a federation?
Federation is a form of decentralization. Not a single central service used by all, but multiple services that can be used by any number of people.
The C-BLOG website can be run independently. Just like a traditional website, people sign up, post messages, upload pictures and talk to each other. Unlike traditional sites, C-BLOG sites are interoperable, allowing users to communicate with each other; customers can use their address to mention or message anyone on any site.
The development method of Cblog expressed in the above figure
1. Represents 1.0 traditional social
2. Centralized social giants (current)
3. Represents the future social networking of C-blog
Decentralized socialization, people must also understand an important vocabulary ActivityPub, what is ActivityPub?
Federation is achieved using standardized open protocols. It’s called ActivityPub. Any software that is also federated through ActivityPub can communicate seamlessly with CBLOG, just as CBLOG websites communicate with each other.
With the global popularity of web3, the market field of web3 will be more and more subdivided, but facing the ecological limitations of each public chain itself, each project will be an independent individual and cannot be integrated. This will be the biggest obstacle to the development of web3, and CNS’s multi-chain domain name, multi-chain mailbox and multi-chain decentralized social networking will undoubtedly be the perfect solution to this development bottleneck and become the golden key to the Metaverse. This start is the biggest killer. Let’s wait and see how the CNS in the UK will develop in the future.
Media Contact
Company Name: New Media Society Culture (Shenzhen) Co.
Contact Person: Zhang Naijuan
Email: Send Email
Country: China
Website: http://www.xinmeishe-wh.com/