Web3 Economy

Edge Computing Needs Web3 to Realize its Full Potential

Web3 is the next generation of the internet, built on decentralized technologies such as blockchain, that aim to provide greater control and ownership of data to users. Edge computing can play a critical role in enabling the development of Web3 applications by providing a decentralized and scalable computing infrastructure. Here are some ways that our edge computing networks will leverage Web3 technologies to unlock new value in cities and venues:
  1. 1.
    Decentralized Applications (dApps): Web3 applications are built on decentralized networks, which require a decentralized computing infrastructure to process transactions and store data. Edge computing can provide this decentralized infrastructure, enabling the development of dApps that can operate independently of centralized servers.
  2. 2.
    Improved Scalability: Edge computing can improve the scalability of Web3 applications by providing a distributed computing infrastructure that can handle large volumes of data and transactions. This can help reduce network congestion and improve application performance.
  3. 3.
    Increased Privacy and Security: Web3 applications prioritize user privacy and security, and edge computing can help ensure this by enabling data to be processed and stored locally on devices. This can help prevent data breaches and protect user data from unauthorized access.
  4. 4.
    Smart Contract Execution: Smart contracts are self-executing contracts that run on a blockchain, and edge computing can be used to improve their execution by processing data and executing code closer to the source of the data. This can help reduce transaction times and improve overall application performance.
  5. 5.
    Edge Computing-enabled IoT Devices: Web3 applications can leverage IoT devices to enable decentralized data processing and storage. Edge computing can provide a distributed computing infrastructure that can handle data processing for IoT devices, enabling the development of decentralized IoT applications.
Web3 and edge computing are highly complementary technologies that can enable the development of decentralized and scalable applications that prioritize user privacy and security. By leveraging edge computing, Web3 applications can become more efficient, scalable, and decentralized, enabling the creation of a more open and equitable internet.

The Protocol & Web3 Transactional Economy

The Protocol governs how the edge computing network is operated, accessed, and maintained by network participants. The ecosystem of participants is intentionally expansive, as the greater the network utilization, the greater the value of the network utility:
Machines: the IoT and machine-to-machine devices that generate and share data to edge nodes. Examples include cameras, environmental sensors, mobile phones, and network gateways.
Operators: the companies, organizations, or individuals that run edge nodes on their property. Operators have contractual rights to a given plot of real estate. Examples include stadiums, managed service providers, and utility companies.
Developers: the companies or individuals that develop, deploy, and maintain applications that run on the edge node network. Similar to a mobile app store, developers can publish applications and charge fees for the utility they provide.
Validators: these maintain the veracity of the network by operating edge nodes that validate transaction flow.
Customers: these are the businesses, organizations, and individuals that are paying to access the utility of the edge computing network.
All participants contribute inputs and receive outputs.