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NetFlowCoin in the real world

NetFlowCoin in the real world

Being part of a crypto/blockchain project really places things in perspective, as we are trying to strive toward creating technology that accelerates the convenience of our online lives that has a direct impact on our offline ones.

 

We often hear how blockchain projects can assist us in the real world, from quality control to government auditing, these are some applicational uses that blockchain technology can be utilized for.

 

However, numerous blockchain networks have struggled to develop a network that can enable on-chain activities to be converted into off-chain services. However, the NetFlowCoin Foundation’s network may have solved this issue.

On-chain payments in return for off-chain services?

NetFlowCoin is a layer one public blockchain that has developed a solution that enables users to share, store, stream, and communicate in an entirely peer-to-peer distributed network. Bringing to life the third evolutionary stage of web 3.0’s development.

 

Users of the NFC network can purchase streaming rights from other users across the NFC universal network. This has removed the boundary that streaming services can now be paid for, and received, in an entirely decentralized/distributed network architecture.

 

For example; a traffic miner in the NFC network, can host a series of video content and share access to their mining device with everyone. A user can then purchase (using NFC’s FUL pegged tokens) the streaming rights to access that video content, whether on a monthly fee, or a one-time fee and the user will receive the video, which is an off-chain service.

 

The entire transaction of the above example is done without any intermediaries involved and acts as a closed-loop economy that rewards the traffic miner in NetFlowCoins, and the user can enjoy the streaming rights given by the miner.

 

The idea would be to readjust the business strategies of streaming as a service, so that miners can reap the rewards compared to intermediaries, giving people the opportunity to retain 100% value of what they offer across the web 3.0.

Digitalizing our lives?

As we move toward the future, blockchain will intertwine with numerous advances in all fields of technological advancements; if we look at the digital twin concept, and apply it using conventional, centralized, methods, we will see a breakdown in trust among users and services.

 

But, if we apply blockchain to digital twins, we can address these trust concerns, which makes the concept possible; as every individual could have their digital twin, and any information/data generated about them, stored across the blockchain.

 

Individuals can then grant streaming rights to their digital twin’s data in return for services, a function that only NetFlowCoin possess, and by doing so, individuals can be assured that none of their data had been stored by any third-party company, this completely changes the way companies and users will interact in the future, creating the perfect balance between the two parties.

 

Over the years, we envision a sci-fi-style future, whereby we will all be interconnected in some type of digital form, enabling AI, data, and information to govern our lives, for the better that is, and the web 3.0 is the early signs of this future.

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How will the internet look by 2050?

How will the Internet look by 2050?

Interestingly, it is not a far-off assumption, that the way in which we communicate and access information will change dramatically. Considering how the internet had changed from the 1990’ to 2020, within this short period of time, the world had changed exponentially.

 

If it only took 20 years to advance so quickly, imagine how the internet, and the world for that matter, will look after 30 years. This is the center of this article, as we uncover how the internet will look by 2050.  

Data and the great transition

We are all aware that data is the crude oil that fuels artificial intelligence. It is known that the more data AI is fed, the smarter, and more advanced AI will become.

 

We are currently living in a world whereby data collection is being stalled by regulations, and this impedes the growth of artificial intelligence. But, what if there’s a solution, one that goes hand in hand with regulations while maximizing the fuel needed to accelerate artificial intelligence?

 

In all honesty, AI is inevitable, whether the world accepts it or not. The advantages of integrating AI across all walks of life completely outweigh the current operational model controlled by human labor.

 

But by doing so, data is needed. This is where blockchain and web 3.0 comes into play. In theory, every human would have an identical digital twin associated with them, and all their data, and any data generated about the individual, would be stored on the blockchain, that is only accessible by them.

 

By doing so, our entire existence could become tracked, monitored, and analyzed constantly 24/7, without the fear of our data being abused by third-party organizations.

 

Our entire lives, duplicated into digital form, could then be streamed, with our consent, to AI-based companies that use our data in return for services, such as medical, lifestyle, travel, etc…

 

We may, someday, become a race that is governed entirely by AI, which runs off data that we control. Every individual would be able to stop/start companies from streaming their digital twin’s data at any time, with the knowledge that their data was never stored.

 

This breaks into a whole new industrial opportunity, that will create a surge in demand for sensors and IoT devices to be deployed everywhere. These sensors will be directly connected to the blockchain that will constantly collect data about an individual and add it to their digital twin.

The world will be bigger than we know

Within the next 30 years, the entire blockchain, web 3.0, and metaverse would have matured enough to the point that web 2.0 architecture may be something of the past.

 

As our entire livelihoods would interact within an artificial world that resembles something similar to a digital universe created as a secondary means of interaction.

 

Perhaps the interactions made within this digital universe would be far superior to that of ordinary life, resembling something of a sci-fi film. But, the underlying principle is, that the limitations on data storage, data accessibility, and physical location restrictions, would all be eradicated.

 

Once the world adopts this new approach, the way in which we interact will be completely foreign to how we interact today, and the underlying technology that will drive this will be blockchain technology.

The challenges we face

This future doesn’t go without challenges, and the blockchain industry is plagued with them. Many people have the misconception that blockchain was designed for cryptocurrencies. This is not true.

 

In fact, the blockchain has been around for numerous years, before the launch of BitCoin, but it was a great solution for P2P financial transactions, and that is what brought life to the crypto world.

 

The current issues we are seeing today, are the exact issues that need to be solved. Whereby people put too much emphasis on the value of a digital asset, rather than placing a value on the technology behind it.

 

In light of the LUNA & CELSIUS collapse, this is a good representation of this issue. These projects were designed to offer financial returns to investors, without a deep dive into their technological backing.

 

It is time people realize that the industry is technology-focused, not prosperity-focused, at least not yet, and with this realization, the industry could finally get on with what it was designed to do, and that evolve mankind into its next digital era.   

 

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What is the main purpose of the blockchain?

What is the main purpose of blockchain?

Many people in the blockchain industry have a huge misconception of what it’s all about. We see numerous individuals associating the blockchain with making money, which in a sense, isn’t entirely wrong, but that’s not its true purpose.

 

The blockchain can be described differently according to many different people, but, all the blockchain is, is a fancy database. One that stores information and data. The amazing aspect though is that it’s immutable and decentralized.

 

This means, the stored information is not stored in one location but is instead stored across thousands of different locations. It’s immutable because once something is added to the blockchain, nothing can be altered or changed.

 

In essence, the blockchain has actually been around for numerous years, dating back to the 1990s, it is only now that it has become so popular as it is the perfect solution to initiate peer-to-peer transactions, without the need of an intermediary.

 

But it can be used for more than this, in this article we will go through some of the real purposes of the blockchain, and explain how it can be applied to all walks of business.  

Building on top of its function

If we look at the way the internet is currently structured, we will uncover that it is comprised of a lot of information and data stored in central locations. For example, all the information we see on Facebook is stored on Facebook’s servers, and any data we (users) generate while using Facebook becomes the ownership of Facebook.

 

This is a centralized architecture and is also referred to as web 2.0. But, imagine if we could access similar services, but have our data stored in a decentralized/distributed network, and all the data we generate is owned by us.

 

Well, that exists, and this is due to the blockchain. If the entire internet is run on servers, and databases, then the blockchain can become a substitute for the current internet, with the advantage that users have ownership over everything they do.

 

Yes, cryptocurrencies are another great example of how blockchain is being used, and one that we can all use today. As any money we transfer over the blockchain is completely peer-to-peer, and any money we receive is owned and viewed by us.

 

The applications that can be applied to the blockchain are slowly becoming more than just a novelty, as we could eventually integrate blockchain into the public service sectors such as government, medical, transportation, etc…

 

The blockchain is a technology and is a solution, that will solve many issues that have plagued us online. Many people are still unaware of what the blockchain is actually used for, but, its technology is only just beginning.

 

Eventually, the world will be capable of seeing integration between our offline lives with our online ones, with zero data issues. By applying this analogy to the future, we are certainly entering the next level of our digital evolution.

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How does the NetFlowCoin ecosystem work?

How does the NetFlowCoin ecosystem work?

It is no secret that the development of web 3.0 is still in its infancy stages. However, many people are usually misled by their understanding of what web 3.0 actually entails.

 

Cryptocurrency is not web 3.0, but instead, is a part of web 3.0. In fact, web 3.0 doesn’t necessarily need crypto at all. The concept of crypto is by bypassing financial intermediaries, and this is exactly the function of a web 3.0 internet.

 

An internet that no longer needs intermediaries or centralized companies is the perfect definition of what web 3.0 is. When we think about the current internet, we immediately think of data/information storage connected via a communications protocol.

 

That’s all the internet really is. Of course, we can delve deep into the ins and outs of it all, but ultimately the internet is just a giant accessible database, that is owned and controlled by a handful of companies.

How does NetFlowCoin fit into this?

As mentioned above, the current internet (web 2.0) is a giant database that stores information on multiple central servers owned and controlled by a handful of companies. As users, we then request permission, via a protocol, to access that stored information.

 

NetFlowCoin on the other hand offers a similar solution, but instead of information stored in central locations, information is stored on the blockchain that is comprised of thousands of distributed locations.

 

Users will be able to access these locations to either, store their own data, stream media content, share access of their information with others, and communicate with anyone around the globe, purely peer-to-peer.

 

The individuals who are offering these locations are called miners, and if a user purchases any of the above services from these miners, then the miner will be rewarded in NetFlowCoins, depending on how much data traffic is generated by the user’s request.  

 

The impact that this technology has is, that users no longer need to worry about their personal data being collected, or hacked and that they can bypass any restrictions set forth by web 2.0 giants.

 

Furthermore, developers will be able to deploy decentralized applications (DAPPs) by creating smart contracts on the NetFlowCoin network. Users will be able to access these DAPPs similar to how other DAPPs are accessed.

 

All the information and data generated by the user will be stored on the blockchain, and only accessible by them, no one else. Meaning, that all users will have complete control over their data.

 

If we dive deeper into data ownership, then, any and all revenue generated by a user’s data will also be rewarded back to the users. For example, if you created a video, and shared it with the network, then any money generated from that video will be given to you, the user.

What’s the tokenomics behind NetFlowCoin?

A good blockchain/cryptocurrency project will undoubtedly have an interesting tokenomics plan behind it.

 

The mining aspect of NetFlowCoin uses a dual consensus mechanism, which are proof of stake (POS) and proof of flow (POF). There are three types of mining features for NetFlowCoin they are as follows:

 

– Block generation: This runs on a POS model, whereby block gen miners are verifying transactions across the network and generating new blocks to add to the chain.

 

– Traffic mining: Miners will need to purchase a dedicated NFC-ready mining machine that has storage capacities. These miners offer their storage space to users and/or media content for users to stream. The more data generated across the network the higher the rewards for the miners.

 

– Bandwidth mining: These types of miners will still need NFC-ready mining machines, however, these mines contribute their extra bandwidth capabilities to the network, enabling users to experience higher network speeds.

 

NetFlowCoin has a dual-coin model. The counterpart coin is called FUL, and it is pegged to the US dollar. NetFlowCoin does this to control the inflation/deflation aspect, as, they need to ensure that pricing across the network is not influenced by the influx of the NetFlowCoin coin.

 

The distribution model is as follows:

 

There are 2.1 BN NetFlowCoins ready to be mined.

Founding teams 5%

Project teams 15%

Investors 10%

Traffic mining 55%

Bandwidth mining 10%

 

80% of the coins will be burnt, eventually leaving around 400 million coins in total.

 

The vision of NetFlowCoin is to become the foundational communications layer that will support the entire web 3.0 ecosystem.  

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How does web 3.0 protect a user’s data?

How does web 3.0 protect a user’s privacy?

It’s no secret that the web 2.0 architecture has uncovered the nasty data collection tricks that so many big tech giants have profited greatly from. This has led to a world of misinformation, distrust, and one of the most hateful societies of modern times. 

 

But, we are now moving toward a web 3.0 architecture, and with it, the trust may be restored among internet users. However, so many people are wondering, how exactly does web 3.0 protect our data? 

 

Although we are still in the infancy stages of web 3.0’s development, we can describe the general functionality of how it works, and by doing so, uncover the vast advantages it has for everyone across the globe. 

 

The end for intermediaries

Now, this statement doesn’t necessarily mean web 3.0 will completely replace what we are currently using, or the system on which big companies operate, but it will force big tech giants to restructure the way they gather and utilize our data. 

 

For us to figure out how these big tech companies need to restructure, we should first define the data aspects inside a web 3.0 architecture. 

 

As you must have heard, web 3.0 will be the era of ownership, what this means, is any content you create, or data you generate, will be solely owned by you and no one else. 

 

What this means, is that web 3.0 will no longer enable big tech companies to access and store our data without our approval. Users will be the key holders of our data, and there will be no intermediary where our data passes through. 

 

These companies will now need to ask for approval to utilize our data. By doing so, big tech companies may begin paying us for the rights to sell our data, meaning we will be compensated to be shown ads. 

Web 3.0 & the blockchain

Interestingly, many people disregard web 3.0 as a novelty, rather than a real innovative stepping stone in the history of our digital evolution. Perhaps this is due to the facts mentioned earlier, whereby big tech companies are unwilling to adapt to this new era. 

 

Regardless, the technology is moving ahead, and as it is a people’s first network, then the need for tech giants is somewhat redundant, so it’s understandable these companies want to impede its development, or at the very least attempt to control some aspect of it. 

 

However, the idea that we now have complete autonomy over our data, and any data generated about us, is quite revolutionary. If the industry matures enough, we may see a complete rollout of off-chain and on-chain integration, whereby our physical lives can be intertwined with our digital ones. 

 

This creates a surge in demand for companies, and governments, to offer an array of different services to us, as companies would no longer be bound by data-protection laws (as any data shared must be approved by the user first).

 

The technology that will have the greatest impact over the next few decades has finally arrived. 

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The biggest challenges facing investors in the crypto space

The biggest challenges facing investors in the crypto space

The world of crypto has brought about a new bubble, that so many people have benefited from financially. There have been ups and downs across the industry, but numerous people have remained resilient when faced with catastrophic bear markets.

 

Especially in recent times, with the collapse of the LUNA token, the de-pegging of UST, the war in Ukraine, and the stock market sell-offs. It has been a turbulent year for the crypto markets.

 

In light of recent events, could this be the early signs of the crypto bubble popping, or is it the next stage of crypto-asset prices ready to soar to all-time highs? Regardless, there are many challenges that await investors, and here, we discuss what those challenges are.

Trust and transparency

Before investing in the crypto markets, or any markets for that matter, there must be a connection of trust between the project and the investor. When you look at founders publicly taunting investors online (as Do Kwon (founder of Terra Luna) did) then you begin to feel a sense of distrust within the project.

 

It is important for a crypto project to maintain a strong sense of integrity among investors, especially from the founder’s side. For too long, there has been a stigma attached to crypto projects that show founders creating pump and dump schemes.

 

This has been a worrying challenge among investors, as, it’s difficult to gauge the authenticity of a crypto founder’s intentions. By which, as an investor, you must dig much deeper into the project as a whole.

 

This leads to the second point, and that is transparency. Many projects in the industry have hidden behind a facade, and this raises red flags among the investing community, or at least it should.

 

Before investing in stocks and shares, a public company’s information is well documented with the SEC, allowing investors to get a better understanding of what they’re investing into.

 

In contrast, the crypto world is not as straightforward, forcing investors to run their own analysis of the project, and make a judgment based on what they uncover.

 

As a crypto project, they must be willing, and open, to share similar information, as you would find with a publicly-traded company so that investors can make a more informed decision. Without this information, then it is entirely down to the investor to take the risk.  

An insecure market

Today, the crypto market is not stable, and in many ways, it won’t stabilize, at least not for a few years. Due to the volatility of the crypto market, it has become a dis-trusted industry for investors to hold on to for the long run.

 

There is still money to be made in the crypto world, but the most minor issue that arises will set off a downturn in stocks, easily wiping billions of dollars off the market overnight.

 

This has been proven time and time again, as, corporations, hedge funds, VCs, etc… often have cryptocurrencies in their portfolio, among other assets. Still, when there’s turmoil in any aspect of the trading world, these crypto-assets become high risk and are often the first asset that is sold off.

 

This triggers a domino effect bearish market, as these institutes cannot hold on to the faith that crypto markets will see stability in times of crisis. This becomes a challenge among crypto-focused investors, as, their crypto portfolio will inevitably be hit during these times.

 

In many cases, the crypto market has been deemed a high-risk market, and this won’t change any time soon. Ultimately it is down to the investors themselves as to whether they can overcome these challenges, and be convinced to invest money into the market.

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How can big corporates join in the blockchain era?

How can big corporates join in the blockchain era?

Numerous corporations are beginning to invest a lot of time and money in developing blockchain technologies for their companies. Although many in the industry usually have the misconception that blockchains need cryptocurrencies to survive, when in fact, they can act as a stand-alone technology.

 

It is becoming more clear that the use of blockchain technologies has numerous advantages compared to the current systems used for data tracking and authentication.

 

Many of these companies have come to realize they can get better results, and be more transparent with their business operations. Here’s how big corporates can join in the blockchain era.

How the blockchain can help with transparency?

We are all aware the world is plagued by disinformation, and at times, distrust looms over the corporate industry. Whether this is through their financials, or by their inability to provide the public complete transparency about their services.

 

This is how the blockchain can assist these companies. Considering their business operations, at least their publicly known business operations were to be put on the blockchain.

 

This would immediately instill trust among their customers and shareholders, as one of the key advantages of blockchain technology, is that it is immutable, meaning the information cannot be changed or tampered with.

 

Furthermore, this way of integrating the blockchain into their company could fulfill the obligations set forth by government agencies, in terms of tax, revenue, and assets controlled by the business, and this could alleviate some of the workload governments put toward auditing these large corporates.   

 

In addition, supply chain and logistics companies can benefit greatly from using a trustless system, one that clearly monitors and updates key tracking points for highly sensitive products, such as pharmaceutical products.

 

By integrating this type of solution, companies will no longer need to spend time and money on actively proving their innocence when there’s an unforeseeable problem that disrupts/damages precious cargo.

What’s in it for the customers?

Aside from being transparent on the internal, and government side, corporations can integrate front-facing blockchain technology that is used to track and update customers on their product’s life-cycle journey.

 

Consider the fact, that customers have been shielded, if not blinded, by a company’s supply chain operations, whereby customers have been unable to see how, and where, a product’s materials have come from.

 

This can change, and become a trusted integral part of a business’s offering, whereby customers can now be given the full view of what they’re purchasing. Imagine a corporate blockchain, that is constantly updated with information about the ethics, materials, and locations of the products/services a customer is purchasing.

 

The rating of that specific product would be much greater compared to others on the market (there’s no data to back this statement, but rather an assumption).

 

As you can see the idea of corporations integrating blockchain technology into their businesses can have deep meaningful effects, not only on themselves but on the customers they serve.

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How can users take advantage of web 3.0?

How can users take advantage of web 3.0?

The step from what we use today to access information, engage in conversations, and store our data has been strictly monitored and taken advantage of, but this is changing with the rise of web 3.0.

We have constantly been made aware of how our personal data has been used to manipulate us into making decisions that we previously may not have taken.

But now, as the world is transitioning to an alternative, we can begin to uncover the key advantages of using this new type of internet architecture. This article will explain what web 3.0 offers, and what you can gain from using it.

Taking back ownership

Hasn’t it been frustrating when you dedicate a lot of your time to creating something, and after sharing it online, it becomes exploited? This is something that a web 3.0 architecture will solve, as ownership over any information, or data, uploaded across the web 3.0 will be accredited to the creator.

Furthermore, if that piece of content generates any revenue, then the subsequent compensation will be rewarded to the creator. Due to the blockchain, we can now keep a very detailed, trustless database of information about ownership. Something that isn’t entirely possible in the current online architecture.

What’s most important, to many users, is the exploitation of personal data. As accessibility will ultimately be peer-to-peer, the collection and use of our personal data won’t be apparent, as all online activities across a web 3.0 architecture will have limited association with our offline identities.

This is partially one of the major incentives that many users are still yet to learn, and once the technology within the industry matures, the accessibility of information, while remaining anonymous will become more seamless.  

Sustainability and access

Within the web 3.0, all the information and data will be distributed and stored on hundreds, if not millions, of distributed servers among numerous locations, meaning accessibility to information could, in theory, always be accessed.

The benefit of this is users won’t have to endure censorship from third parties but instead be given the freedom of open information accessible from anywhere across the globe, without limitations.

Of course, there are drawbacks to this, but, many companies are actively working on solutions that can create the right type of balance that assimilates similar safety protocols we see today. As mentioned before, the technology isn’t mature enough.

A popular understanding of a web 3.0’s decentralization is the possibility that users can access other users’ servers to increase their network speeds. For online functionality, this is a huge step toward an extremely fast network that isn’t restricted by centralized server bottlenecks when accessing the internet.

So, people will be able to utilize a web 3.0’s network to stream, download, upload, store & retrieve data, and participate in online gaming without encountering high latency issues.

Although we are still a few years away from web 3.0’s promises of becoming a reality, we are already beginning to see signs of its true potential, and with it, a new way in which the world can access digital information.

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Problems with the future internet | web 3.0

Problems with the future internet | Web 3.0

The future internet known as web 3.0 is coming, and although there’s a lot of hype surrounding its development, there are a few drawbacks that will impede its development. In this article, we will explore some of these issues.

 

Ultimately, web 3.0 architecture is something the majority of the world has been looking for. It is a means that can ensure complete privacy, and security, and address numerous issues such as scalability.

 

Web 3.0 is described as a decentralized, peer-to-peer network, that enables users complete autonomy over their data. Just by describing what web 3.0 is we can begin understanding why there are obstacles slowing down its development.

 

Let’s dive into what problems are associated with the future internet, and perhaps uncover why in which we can overcome these issues.

A lack of data & information

What we have today are these monopolies that have stored every piece of information we see on the internet in large data farms. When we want to access this information we must give away some type of information, click on ‘accept all cookies’, and basically sign over every anonymity freedoms we have to access them.

 

This is a centralized structure. Let’s take Google as our primary example. Google’s search algorithm basically acts as a stitching mechanism that bridges all these different websites, hosted across numerous locations, together.

 

When we search for something using Google search, we are asking Google to find the information we need in the fastest time possible, something Google does incredibly well. So, Google is accessing numerous servers to deliver these results.

 

In a web 3.0 infrastructure, all the information will be decentralized, meaning, a company like Google will have a hard time indexing and gathering the information we need. What’s happening is that in a decentralized internet network, the user experience will be dreadful for those trying to access information.

 

Currently, there is no indexing search engine that can tag and deliver information similar to Google’s method. This will become a problem, and currently, there aren’t any popular solutions for this in a web 3.0 architecture.

 

So, does this mean the future internet will be more like a hybrid between existing systems and these newly formed decentralized systems? This is a question that not many can answer, at least not right now.

 

The future internet, or web 3.0, is still in its infancy stages. It is promising all these grand changes, but is it missing the mark by offering a complex system that sways people away from using it?

 

In order for web 3.0 to see mass adoption, the complexity must be simplified, information must be abundant, and tools must be simple and easy to use. Without them, web 3.0 will struggle to rise in its development.

Governments & corporations

We see from the aspect of the technology side and its current limitations. Now, on the other spectrum, the future internet must overcome the socio-economic strains that are restricted by legislation and corporations.

 

From the perspective of a government body, a decentralized, “uncontrolled” internet can have catastrophic effects to every aspect of governance models. From democratically run nations to socialist/communist ones, a decentralized internet could get out of hand.

 

This is one fear that many governments are baffled by, and due to this fear, legislation is slowing down web 3.0’s momentum by targeting the incentive layers of these platforms, and the endpoints in de-fi.

 

This is a barrier that web 3.0 advocates, and developers, must address in order to satisfy these agencies. Although some governments are relatively susceptible to its development and are figuring out a solution to work alongside web 3.0’s development, then there are governments who have completely banned its use entirely.

 

Whatever the eventual outcome, we are in somewhat of a limbo, between whether or not a decentralized internet is a safe bet, from a government’s point of view, and can there be a good balance between some type of control to a free and open digital economy?

 

From a corporation’s point of view, a web 3.0 architecture isn’t much of a concern right now, as mentioned earlier, there is still a lot of development that needs to be done before it can even be considered a threat to the existing web 2.0 architecture.

 

That said, companies such as Facebook, and Google, have been preventing the use of their platforms to advertise web 3.0-based crypto projects, perhaps this is only due to the sheer amount of scam coins taking advantage of unwitting investors, or they already see the threat and want to act upon it the only way they can.

 

Whatever the reason, web 3.0’s development is already apparent, and will eventually become embedded into our daily online lives. Only time can tell what the future holds for us.  

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How the NetFlowCoin network will be the foundation of the next internet

How the NetFlowCoin network will be the foundation of the next internet?

The internet we know today is about to change, not immediately, but over the next few years. We are currently surging toward a transition from a web 2.0 architecture, to a web 3.0-based one. With it, the way we navigate, communicate, and access digital information will change.

 

To many, the concept of web 3.0 flies over their heads, as the core principle that’s rattling around everybody’s minds is, why does it need to change, and why should I care?

 

Well, to answer this question we must first understand how we are currently accessing the internet. As many of you know, our entire outlook of the digital world is controlled by a handful of companies, like Facebook, Twitter, Google, Microsoft, etc…

 

And some have branded the way we access the internet like slaves being told what information we think we want to see. What many people haven’t realized is that our entire digital existence is controlled by these companies.

 

How this has been done, and many of you have heard about it, and that’s through the mass collection of personal data. We have unwittingly handed these companies our personal data on a silver platter, giving them permission to manipulate our views and reinforce conventional beliefs that have created the most polarized social-economic structure in the history of the world.

 

Well, this is fundamentally at the core of the next generation internet that we call web 3.0. Regardless of the hype around cryptocurrencies, it’s actually this new distributed, decentralization, that should be the main focal point of the industry.

Taking back control of your data, and the internet

This brings us to what web 3.0 is, and what does it have to offer? Well, in simple terms, the idea of web 3.0 will be that users will have complete autonomy over how their data is used, ultimately giving control of data back to the people.

 

In a web 3.0 architecture, people will be able to remove the need for centralized authorities I.e Facebook, Google, etc… and bypass their services to get the same, or similar, information without divulging their personal information.

 

No one knows exactly what web 3.0 will eventually look like, but there are some key characteristics that are beginning to take shape. These characteristics are as follows;

 

Decentralized & Centralized: The web 3.0, contrary to popular belief will be both decentralized and centralized, as every participant upholding a network’s integrity will become their own centralized location.

 

Organizational structures in the form of a DAO: Companies in the future may adopt a DAO (decentralized autonomous organization) structure. This can be regarded as one of the highest forms web 3.0 could develop into, whereby businesses are no longer run by a group of individuals, but instead run by a mass amount of people.

 

Complete control over your data: Any, and all data, will be owned by the individual, and any revenue that data generates. The core concept is that the freedom of data collection for companies is over.

 

Authentic rights over identity: Your digital identity online is entirely up to the individual, as you’ll have the choice of whether you want to remain open, partially open, or completely hidden across web 3.0.

 

Sustainability: The current web 2.0 architecture has numerous sustainability, and scalability problems associated with it, as networks crash constantly, and we are confined by the internet/bandwidth speeds. In a web 3.0 architecture, these issues can be overcome, as there will be a combined network of edge computers, etc…. upholding a network’s integrity.

 

As you can see, these problems have been prevalent throughout the 21st century, but have never really been solved, until now, with the rise of blockchain technology, we are finally at a stage where the internet can evolve by solving these problems.

Where does NetFlowCoin fit into the web 3.0?

So after defining the issues with web 2.0 and the direction web 3.0 is heading, where does NetFlowCoin fit into all of this? Well, NetFlowCoin’s network is a P2P communications network, that operates in the same way we communicate across the current internet. The only difference is that it is completely peer-to-peer, meaning anyone accessing the NetFlowCoin network is subsequently bypassing the need for third-party intervention.

 

The NetFlowCoin network, in essence, has created the foundation bed for a decentralized web 3.0 internet. Users will have the freedom to store, stream, and share any type of digital content from anyone, with anyone, across the globe.

 

A decentralized internet isn’t new, it has been around for years, but, with the combined technology of the blockchain, and the hype surrounding cryptocurrencies, people are now incentivized to support a network’s integrity.

 

A similar function has been applied to the NetFlowCoin network, whereby miners are rewarded by contributing digital content, and internet bandwidth, that generates data traffic. This data traffic is converted into NetFlowCoin rewards.

 

The previously conceptualized distributed internet model has not been made possible, as there was no network that can support the mass adoption of a P2P communications network, and reward people simultaneously, at least not until today. NetFlowCoin’s vision is to build out a global network that rewards all who participate, creating a win-win internet for all.