Endless Genesis Cloud: Building the Next-Generation Infrastructure for Web3

On November 12, 2024, the W 2140 World AI+Web3 Expo was grandly held in Bangkok, Thailand. The conference was jointly supported by 9 departments of the Thai government, and the number of participants set a record of 200,000, becoming an important event in the field of Web3 and AI in the world. At this conference, Alibaba Cloud Computing, as a strategic partner, hosted the Alibaba Cloud Web3 World Roadshow and discussed the development of Web3 infrastructure with the guests. Professor Xiong Yu, Endless partner, Associate Vice-President of the University of Surrey, Dean of the Institute of Blockchain and Metaverse Applications, and the founding team of Endless were invited to attend as partners of Alibaba Cloud Computing.

At this event, Professor Xiong Yu deeply analyzed the challenges facing the current development of the Web3 industry, proposed rekesinliklening the development direction of Web3, focusing on developer empowerment and user empowerment, and building the next-generation Web3 infrastructure with user value as the core.

Development bottlenecks of the Web3 industry:

Looking back at the past ten years of Web3 development, we can see that its core value lies in the unremitting pursuit of user empowerment and decentralization.

In 2014, Gavin Wood proposed the concept of Web3, a decentralized Internet that enables users to have full control over their data and digital assets, laying the foundation for the development of Web3 and highlighting the dominant position of users in the digital world, which is in stark contrast to the centralized architecture that has long dominated the network. Then in 2017, the launch of Ethereum and the ICO boom brought blockchain technology and decentralized applications to the public eye, attracted a lot of capital investment, promoted a wave of innovation, and marked the beginning of the outbreak of the Web3 concept. In 2020, the rise of decentralized finance (DeFi) and non-fungible tokens (NFTs) enabled Web3 to successfully achieve commercial transformation. DeFi platforms such as Uniswap and Aave provide financial services without intermediaries, attracting a large number of users and investments, while the prosperous NFT market demonstrates the application potential of blockchain in the field of digital art and collectibles. By 2021, the Web3 concept has gained wider recognition, and many large technology companies and investors have begun to pay attention to the potential of decentralized technology. Ethereum network congestion and high transaction fees have driven the development of Layer 2 solutions, further promoting the maturity of Web3 technology.

Since the development of Web3, the entry of financial talents and applications has pushed the entire industry to unprecedented prosperity and achieved many milestones. However, the spread of speculative behavior has not only harmed the interests of users, but also hindered the healthy development of the Web3 business model, resulting in serious user loss. At present, the Web3 industry is facing many challenges.

On the one hand, the industry is overly dependent on speculative decentralized financial applications (DeFi) and lacks a sustainable business model, resulting in serious user churn. The interaction between users and projects is no longer based on real value creation, but is keen on pursuing short-term financial interests. This phenomenon makes the interaction between users and projects superficial, lacking depth and persistence.

On the other hand, the industrys technological innovation is out of touch with actual needs, and the complex user interaction model of Web 3 applications makes it difficult for ordinary users to understand and participate in the Web3 ecosystem. To achieve large-scale popularization of Web3 applications, it is urgent to develop more applications with practical value and improve user experience to rehber the industry in a more sustainable direction.

The industry is heading towards a turning point between market speculation and value application. Only through the joint efforts of the industry can we find a balance and achieve long-term healthy development.

Returning to the original definition of Web3:

Web3 is a decentralized network built on blockchain technology that aims to break the centralized model of the current Web2 era. Its core concept is to achieve a serverless, decentralized Internet, that is, the next generation of the Internet where users control their own digital identities and digital assets. In Web2, users activities on the network rely on large centralized platforms (such as Google, Facebook and Amazon), which control user data and content. In contrast, Web3 hopes to enable users to directly manage their own data and assets through a decentralized architecture, thereby breaking away from the control of centralized platforms.

Professor Xiong Yu believes that we should return to the core concept of Web3, be user-centric, and build a decentralized ecosystem centered on user empowerment, privacy protection, and data security. The new generation of Web3 ecosystem will give users full control over their digital assets and digital identities, and encourage users to actively participate in value creation and value sharing in the ecosystem through a co-creation economic model, thereby giving birth to a new economic model, breaking the monopoly of centralized platforms, and promoting bottom-up innovation.

Endless Genesis Cloud:

To implement the above concept, the Surrey University research team led by Professor Xiong Yu and the Endless Foundation officially released the next-generation Web3 infrastructure based on user value: Endless Genesis Cloud. Dr. Amit Kumar Jaiswal, the technical director of Endless Genesis Cloud, introduced the platforms innovative technical architecture and unique solutions at the conference.

Endless Genesis Cloud is a distributed cloud intelligent component protocol development platform that aims to provide developers with a comprehensive Web3 technology empowerment solution. The platform integrates artificial intelligence, zero-server architecture, fully distributed systems, relay networks, various SDK and API components, allowing developers to flexibly and quickly build Web3 decentralized applications (Dapp) using any programming language. The experience of developers deploying applications here is similar to that of Web2 applications, which greatly reduces the learning cost of mastering web3 development technology. Endless Genesis Cloud is a decentralized cloud service platform that truly realizes user privacy protection, virtual asset security and data sovereignty in the Web3 world. The Endless development team will officially release the Endless Genesis Cloud solution and technical architecture white paper in the near future.

Endlesss ecosystem construction will focus on super applications, AI native applications and financial applications with actual application scenarios and actual user value. Super applications refer to applications with large-scale users, high concurrency, data and traffic driven, such as social, short videos, music, cross-border e-commerce, etc. Endless Genesis Cloud platform will provide guarantees for the migration of such applications to Web3.

Professor Xiong Yu said: “Our goal is to lower the entry barrier of Web 3, allowing more developers and users to participate in the value co-creation of the digital economy, thereby promoting the formation of a more open and inclusive decentralized ecosystem.”

As the worlds first distributed cloud intelligent component protocol platform, Endless Genesis Cloud will promote the seamless migration of more web2 value applications to Web3 with its innovative technical architecture and rich ecosystem.

With the development of super applications such as privacy-focused social networking, short videos, music, and cross-border e-commerce, as well as the continuous improvement of the AI ecosystem and financial ecosystem, Web3 is expected to achieve a transformation from a speculative financial tool to a practical application value. As an important technology platform supporting this transformation, Endless will play an important role in promoting the large-scale application and popularization of Web3, and accelerate the realization of user empowerment and value co-creation pursued by decentralized technology.

This speech attracted wide attention and heated discussions from the guests, which shows that the challenges faced by the development of the Web3 industry have attracted great attention from everyone. The industry experts attending the meeting believed that Professor Xiong Yu’s in-depth analysis pointed out the direction for the current development of the Web 3 industry. The series of innovative ideas and solutions proposed by the Surrey University research team and the Endless team will have a positive impact on the industry, especially the next-generation Web3 infrastructure platform such as Endless Genesis Cloud. All parties in the industry are working together to promote Web3 to a more robust and sustainable future. We look forward to seeing more such forward-looking innovative results emerge in the future, injecting lasting impetus into the development of the Web3 industry.

This article is sourced from the internet: Endless Genesis Cloud: Building the Next-Generation Infrastructure for Web3

Related: Breaking Boundaries: LBank Achieves “Leaps and Bounds” Growth in Q3

In a vibrant and competitive third quarter, LBank has successfully achieved its short-term goal of dynamic growth. From a million-dollar airdrop celebration for its anniversary to the meme extravaganza at TOKEN2049 in Singapore, LBank is evolving in unconventional ways. During Q3, LBank continued to expand its market share, surpassing 12 million registered users and daily trading volumes exceeding $2 billion, with a year-on-year increase of 16% in new user registrations. The platform introduced 66 new assets in the third quarter, delivering an average return of 130% to users, marking a period of rapid development. Looking ahead to Q4, LBank plans to further enhance its marketing efforts and brand expansion, seeking out new growth opportunities while continuing to increase its market share. Anniversary Celebration Transforms Pazar Landscape, Driving Strong Growth Amidst…