Article: Is Cross-Chain Technology The Best Way Forward For Blockchain and DeFi?

Blockchain, Decentralized Internet, Money

Is Cross-Chain Technology The Best Way Forward For Blockchain and DeFi?

Why is cross-chain technology so important? Because it’s viewed as one of the main tools to help continue the growth and expansion of decentralized finance (DeFi).

If elements of the DeFi industry are not able to work with each other in a smooth manner, decentralized finance will be hindered in its attempts to challenge, or at the very least, bring traditional finance to the crypto world.

Blockchain interoperability also allows people to make payments across multiple blockchains, fueling an energetic digital economy where many believe multi-token wallet systems should emerge.

Read full article

Article: Why real-time data is crucial for Web 3.0

Blockchain, Data, Decentralized Internet, Web 3.0

Why real-time data is crucial for Web 3.0

Right now, the blockchain space remains scattered. Blockchain and its applications are there, floating in this new space that will become the internet of the future, but they lack certain aspects that will connect them more thoroughly and turn them into Web 3.0. In its current stage, the blockchain sector is not unlike the internet of the ‘90s. It has some of the aspects it needs, such as security, decentralization, financialization features, and more.

However, it still lacks the main component — the real-time data — that will allow it to go big, similarly to how Web 2.0 (the modern-day internet) exploded. This issue is well-known, and there are some working towards solving it. One example is Streamr, which seems to be in the best position among these projects.

Read full article

Article: The Internet of Energy: 3 Paths Towards Peer-to-Peer Electricity

Blockchain, Decentralized Internet, Hardware

The Internet of Energy: 3 Paths Towards Peer-to-Peer Electricity

A blockchain database is typically decentralized, meaning that it is collectively controlled by its participants rather than a single person or entity. This could facilitate a truly decentralized peer-to-peer energy system. Additionally, the information stored in blockchains is unchangeable, and the identity of participants is ensured through a unique identifier. This solves the issue of record keeping and tracking. It also offers additional possibilities in distributed energy management like the issuing of carbon tokens to offset an individual’s carbon footprint.

Article: Unbanking The Future With DeFi

Blockchain, Decentralized Internet, Money

Unbanking The Future With DeFi

Based on open protocols and decentralized applications, agreements are enforced by code, transactions are executed in a secure and verifiable way, and legitimate state changes (ledger entries) are made immutable on a publicly searchable and verifiable blockchain.

DeFi creates an environment that can simultaneously provide unprecedented transparency and equal access rights, while still preserving privacy and reducing transaction friction.

With a wide variety of applications, DeFi can enable one to buy dollar-pegged assets using stablecoins on decentralized exchanges, move these assets to an equally decentralized lending platform to generate interest, then add the interest-bearing instruments to a liquidity pool or on-chain investment fund.

And all of that can be achieved (and more) without so much as even stepping onto the highly polished marble floor or your downtown bank.

Read full article

Article: Regulation, Moderation, and Social Media Decentralization

Decentralized Internet, Media, Web 3.0

Regulation, Moderation, and Social Media Decentralization

Enter the Decentralized Social Media (DSM) model, a polycentric model of online interaction recently proposed on Medium by Ross Ulbricht, the currently imprisoned founder of Silk Road, an infamous illicit online marketplace that jump-started the popularity of Bitcoin in the early 2000s.

To oversimplify, Ulbricht’s DSM model would remove those automatic and manual moderation tools from under the hood of a social media’s servers and place those same processes in the device of the social media user under the control of separate companies that stand to profit from providing moderation and aggregation services at the discretion of the device owner. Users could access any or all of the web’s available social media content feeds at once and only be fed content within their own acceptable parameters while retaining ownership of their user data. All of this would be done through the operant function of Bitcoin, the encrypted blockchain.

Read full article

Article: A Beginner’s Guide to Decentralized Identity

Decentralized Internet, Web 3.0

A Beginner’s Guide to Decentralized Identity

Instead of a centralized issuer and storage, DID solutions spread out the issuance and storage of information that make up an identity across various entities.

This information could include a user’s height, weight, eye color, favorite Spotify playlists, and even social security number. Decentralized identity solutions are very comprehensive and sometimes offer incentives to attract new users, similar to how airline mile points can be earned for signing up for new credit cards.

Instead of storing your personal information on a single server, blockchain technology encrypts this data and spreads it across multiple nodes. Usually, this encryption comes in the form of a two-key password called a private and public key. The only way to access the personal information in question is by matching the two keys.

Read full article

Article: Why interoperable data will save time and money for ag

Data, Decentralized Internet, Innovation

Why interoperable data will save time and money for ag

A great example is email. The various email systems such as Gmail, Outlook, Hotmail etc., exchange emails efficiently because their industry has created interoperable data standards and open-source tools that they all utilize. They do not need to develop separate code for each different email system they are sending emails to. Imagine the cost and the lift if each company had to “invent” email every time they set out to make their solution.

The hand-me-down nature of data systems that have been adapted to our needs instead of designed for them is probably one of the major reasons we have not yet solved this puzzle. This is an exciting time for our industry, not just because we are likely on the cusp of many great new innovations, but because we have been invited to the table to represent fresh produce and floral in the earliest phases of development.

Read full article

Article: Why Business Leaders Should Prepare For The Shift To Decentralization

Decentralized Internet, Web 3.0

Why Business Leaders Should Prepare For The Shift To Decentralization

I’m still amazed when I look at my own company. Although the pandemic forced our decentralization, we have the kind of culture that allows our employees to learn and understand what they need to do and we trust them to make the right decision. They quickly built a new set of processes, and we continued to make steady progress.

Done well, decentralization is a much more resilient, reliable and scalable system than a centralized system. Whether it’s at a country, community, major corporation or small business level, decentralization is coming. Those that prepare for and embrace it will be the winners in this next decade.

Read full article

Article: DLT Needs Market-Wide Data Standardization For Global Adoption – Wef

Blockchain, Decentralized Internet

DLT Needs Market-Wide Data Standardization For Global Adoption – Wef

Matthew Blake, head of the future of financial services at World Economic Forum, said: “Following several years of intense hype, examples of use cases where inefficiencies and challenges are being solved with blockchain are starting to emerge across capital markets. With the future for blockchain in financial services still being defined, a nuanced look at the opportunities this technology offers right now is particularly important for the financial services industry.”

Read full article

Article: How DEXs Fuel the Development of the Decentralized Internet

Blockchain, Decentralized Internet, Web 3.0

How DEXs Fuel the Development of the Decentralized Internet

The evolution of decentralized exchanges is linked to the advancement of the whole blockchain industry and greatly affects the development of the decentralized internet. DEXs fuel the whole ecosystem of DeFi services that are now starting to include more decentralized applications, decentralizes SaaS, facilitate tokenization of assets and adoption of the P2P model.

Despite all these advancements, we’re still in the early stage of Web3 development and adoption. Users still encounter many obstacles: it’s hard to interact with the protocols from a phone and the desktop versions require additional software like wallet extensions.

There are also problems of scalability, cost of operations, user experience and security. But this is common for newly emerging technologies and mechanisms, especially the ones that bring economic and financial value.

Read full article