MEDIA

DxChain Interview | Data Decentralization: the Breakthrough of DxChain Ecosystem Development


On Sep. 17, China's renowned Media Jinse Finance released the interview with DxChain Co-founder Allan Zhang, discussed the development pattern and future of public chain and DxChain. Please refer down to the interview.

With the era of big data is coming, the Internet giants have built their data systems, collecting and analyzing user data and applying to the business model. However, the data owners have no control over data ownership, privacy, and benefit.

Only by protecting the data privacy and giving the data ownership back to the users, allowing them to share the data initiative and get benefits, can promote the rapid development of the Internet. Therefore, the DxChain team built the decentralized big data storage and computing public chain.

Recently, DxChain Co-founder Allan Zhang had an in-depth interview with Jinse Finance, detailing the ecosystem and development path of DxChain.

The major problem of the Internet is the inability to deliver value

Allan Zhang said: "Like a huge decentralized network, the Internet is consisting of distributed data storage and computing, but the most major problem is that it lacks a public chain to deliver value.  Anything that involves payment can only be done through a centralized system like Alipay, WeChat, and credit card. With the development of technology, we will start a valued network era similar to the Internet but can realize valued data and valued calculations."

DxChain starts with data storage and trading, aims to build a new ecosystem of the valued Internet gradually.

The development of the IoT (Internet of Things) depend heavily on data, billions of sensors are producing huge amounts of data every second, for example, A 1080P HD camera can generate around 2T data a day. In the centralized storage mode, the cost of IoT data storage and maintenance is extremely high. However, in DxChain's decentralized storage network, data is stored in different nodes to reduce the cost and enhance disaster tolerance. Besides, users can earn revenue by sharing their idle storage capacity, maintaining data, and so on.

In the DxChain network, data is no longer monopolized by the centralized companies, but controlled by the users. For instance, users can trade their specific consumption information with a commercial company for market research or user habit analysis.

In addition to data trading, the personal data storage scenario will be further improved. At present, most of the online storage services are provided by centralization organizations. The data would get lost if the company bankrupt, terminated or shut down. DxChain launched a decentralized application - DxBox which can greatly improve the personal data storage service. Because of the blockchain mechanism, there is no need to worry about data loss, data leakage, or other security issues.

Data Decentralization: The way to DxChain ecosystem breakthrough

Every public chain project is looking for a proper development path, however, the emphasis and directions are different due to the team backgrounds and technical architectures. Allan Zhang indicated that the “Silk Road” is the breakthrough of Bitcoin while Dapp and ICO are the key points for Ethereum. Likewise, the decentralization of the data is the direction DxChain chose. In addition to the DxBox, Allan Zhang and the development team are also paying attention to the data tools in daily life. DxChain hopes to optimize and improve the most common file storage and synchronization service in a decentralized method as well as implement more tools into the DxChain ecosystem in the future.

Like other public chain projects, DxChain has looked for strategic partners to find out the shortcoming and to strengthen the ecosystem construction through cooperation but ultimately failed to achieve the expected results. The team realized that technology to ecosystem construction is what highway to service facilities like gas stations and restaurants. Therefore, DxChain puts the development of technology in the first priority, wishes to develop with like-minded public chain partners by diving to technology.

The future of public chain development: More powerful industry pattern with multi-giants

Allan Zhang believes that the blockchain industry is still in a very early stage, but with the promotion of governments and giant companies, the blockchain industry will develop prosperously and steadily. Allan Zhang compares the current blockchain stage to the Spring and Autumn Period, with the flourishing of numerous schools of thought. The blockchain industry will enter the Warring States era and form a multi-giants situation after a period of development. Nowadays, only Bitcoin can be called “giant” or “leader”, but there are no other “giant” projects, even Ethereum has limited influence. Later on, although there may not appear another “Bitcoin”, it is bound to have a strong public chain show up with great influence.

In the future, the entire blockchain world will surely form a multi-giants pattern. "If DxChain develops smoothly and realizes the value of the Internet, at least it can become one of the giants," Allan Zhang said confidently. "Many public chain projects have been funded and launched since last year, but the industry will continue to reshuffle due to the cooperation and merger of major projects, and eventually there will be an outstanding chain show up in the next few years making blockchain world much better."

"The public chain stands out must be powered by superior technology and well-recognized consensus" Allan Zhang explained: "The blockchain is a new era that technology can directly change the world and the development of public chain can get rid of the capital. The consensus is the second important point. DxChain is a public chain, a consensus, and a concept. Only by spreading the concept to everyone and being accepted by the public can DxChain become a powerful and influential public chain."

The centralized platform has dominated for a long time so that people ignore the Internet can provide better services. The value of the Internet advocated by DxChain allows us to expect the value and prospects of the decentralized system. How far is the better era Allan Zhang mentioned?

Author image

About DxChain

DxChain is the world’s first decentralized big data and machine learning network powered by a computing-centric blockchain.