When we bring up the idea of Web3, what do we really embrace and envision? Is it the decentralized world powered by blockchain? The DeFi summer, which uncovered problems in centralized finance and was characterized by freedom, transparency, fairness, and autonomous community. It also involved collaborative acts of creating, building, governing, and agreeing. The Web3 that Cumulus Encrypted Storage System (CESS) delves into today embodies an era where the value of data is shared and interconnected.
Unlocking Interconnected Data Economics with Web3
Interconnected data economics underscores the equal importance of data sharing and value distribution in the digital economy. While Web1 and Web2, characterized by information sharing and a top-down business model, the lion’s share of profits in those models ended up with centralized conglomerates. These technological behemoths wield complete control over data ownership, enabling them to analyze valuable market trends for marketers and trade or sell data to third parties. Meanwhile, the true creators of data — regular users — often find themselves as bystanders, receiving either very little or an unfairly small portion of the substantial profits.
In contrast, Web3 has emerged as a decentralized and bottom-up model, reshaping how value is created and distributed. This change ensures that everyone who contributes to the network receives fair rewards and benefits from the value that data brings. Moreover, as data ownership becomes clear, the resulting profits from users’ data, like content from creators, primarily go to the original data owners. This new economic system empowers assets, currencies, and digital items to be exchanged freely, giving rise to a fresh era of interconnected data economics.
CESS: The Decentralized Data Value Network
Web3 has revolutionized data ownership, placing users in direct control. CESS, as the pioneer of blockchain networks supporting large-scale business storage, stands as a secure, efficient, open-source, and scalable decentralized storage network. With its capabilities, CESS effectively returns data ownership to its rightful owners, while offering seamless handling of the storage and retrieval of high-frequency dynamic Web3 data.
CESS isn’t just about establishing a storage blockchain network; it’s about creating a new data value network. Enforced by CESS’s technology, data can be shared and traded with protection and absolute data sovereignty in a trustless manner. Under this premise, users can share and trade their data with confidence and get the fair share of the profits. Ultimately this dynamic fosters the free flow of valuable data and information, igniting a cycle of enriched circulation.
CESS goes beyond establishing a storage blockchain network, it pioneers a novel data value network. Empowered by CESS’s technology, data sharing and trading are strengthened with privacy and data ownership protection in a trustless manner. This foundation allows users to securely share and trade their data, ensuring equitable profit distribution. Ultimately, this dynamic fosters the free flow of valuable data and information, igniting a cycle of enriched circulation.
Empowering Web3: CESS Data Ownership Confirmation Technology
The ethos of CESS aligns seamlessly with the vision of Web3. Web3 aims to establish a decentralized internet, granting users control and autonomy over their data. Leveraging the innovative Multi-Format Data Rights Confirmation (MDRC) mechanism, CESS extracts digital fingerprints from data and stores them on the blockchain, serving as the singular proof of data ownership. The incorporation of decentralized proxy re-encryption facilitates effortless data ownership transfers among users, enhancing data utility while ensuring privacy. CESS achieves data empowerment, privacy protection, and secure storage, laying the technological foundation for the interconnected and mutually shared data value of Web3.
Fostering Collaborative and Equitable Data Sharing through Decentralized Cloud Storage
CESS plays a vital role in facilitating seamless cross-format, cross-platform data sharing collaboratively. It achieves this by establishing a transparent, efficient, and equitable global decentralized cloud storage and online data network sharing platform. This platform is enabled through the implementation of the Random Rotational Consensus (R²S) mechanism, ensuring efficient transactions and fast processing (up to 10,000 TPS) within the data network. The R²S mechanism fosters fair and unbiased participation of consensus nodes, preventing the undue dominance of larger nodes.
Constructing a Decentralized Data Value Network
CESS is poised to establish a decentralized data value network, leveraging fair incentives to efficiently utilize idle storage resources and cultivate an open, transparent data sharing platform. Developers, creators, businesses, and consumers work together to drive data circulation and value creation using CESS. It offers fresh data sharing possibilities, aiding users in uncovering inherent data value and reaping benefits, continually unlocking the potential of human digital assets.
Conclusion
In the digital age, the establishment of data value networks has taken on paramount significance. Beyond being a secure and efficient storage blockchain network, CESS serves as a dynamic data value network that pioneers approaches for unlocking data’s inherent value and encourages interconnectedness and value sharing. This dual function not only propels us toward a more open, transparent, and decentralized Web3 future, but also catalyzes the evolution of an interconnected data economy.