The industry suffered a brutal comedown last year after the massive rally in 2021. A bear market is really difficult for projects in the blockchain space. The last crypto winter in 2018 lasted for almost 2 years spelling uncertain times for the crypto sector. But during that market downturn, innovation happened that fuelled the next growth cycle. There are some projects which are continuing to build in this bear market too. ZettaBlock is one such new kid on the block. This project launched some months ago and has already received an overwhelming response from all corners of the world! It envisions itself as the first full-stack, real-time Web3 data infrastructure for indexing and analytics, joining on-chain and off-chain data. Their team reached out to many projects and founders in recent times and worked closely with a number of them to gain a better understanding of what they needed, and to better understand what is really missing in the Web3 world. The team has been working hard and is now looking forward to the next phase of Web3 to unlock greater potential. Let’s have a deep dive into ZettaBlock!
Decentralized internet on the horizon
The internet is almost three decades old now and its growth has been nothing short of remarkable. Yet, as with any other technological sector, imbalance and concentration of power have occurred on the Internet. This is why many people believe blockchain technology offers the potential to achieve a distributed state of the network by allowing ‘trust’ to be shared across connecting networks. Decentralizing the Internet to give power back to consumers is possible, however, it is not going to be an easy task. The current state of technology means that there is still a long road ahead before the Internet is completely decentralized. Nevertheless, it is encouraging to know that web tools have already started to become catalysts for this change, offering people the chance to begin enjoying the benefits of a more distributed system.
Web3 – making it work
Web3 is the third major evolution of the internet. It comes with belongingness to anybody and everybody. Blockchain is a key technology to building Web3 and it has decentralization at its core. We must say that it is still a ‘work in progress’ but new opportunities and advancements are being made every day.
The foundation of Web3 consists of openness, inclusiveness and fairness. Decentralized applications (DApps) either run on blockchains or decentralized networks of many peer-to-peer nodes. Hackathons and build-together movements generate path-breaking innovations. The community-managed products and services are far more consumer friendly. For example – DeFi (decentralized finance) allows users to trade digital assets or earn passive income without the intervention of a third party in a trustless manner.
Cryptocurrency is an essential component of Web3. Crypto tokens are utilized to secure, manage, govern, and incentivize community-managed projects, as well as offer a native, borderless payment layer. Transactions are stored on blockchains such as Ethereum, while distributed storage networks like IPFS or Filecoin store the data. Technology is developing rapidly to create new methodologies for constructing applications and services for the future. This is done by using new protocols and architectures such as decentralized financial services, data marketplaces, digital identity solutions, and decentralized autonomous organizations (DAOs). With these solutions, the internet is becoming a more secure, transparent, and open ecosystem, allowing users to make more informed decisions and giving them greater control over their own digital assets.
The problem with the query layer
The Web3 stack is completely different from the Web2 stack. It has different components such as the infrastructure, protocols, utilities, services and applications. Blockchains and storage networks are important parts of the stack but accessing and interacting with such data is not easy. In a public blockchain like Ethereum, data is immutable and anybody can view or verify it. The biggest problem can be found in retrieving structured data from the blockchains as it involves a lot of filtering and grouping. Current Web3 applications need to call many different APIs serially to aggregate relevant data, which often results in unpredictable and unreliable performances. The process is also very slow as a lot of extra work is needed to be done. For example - getting a user’s transaction history seems to be a simple query but here also many different APIs must be called serially. This is definitely a Web3-specific problem.
In this article, the ZettaBlock team compared Twitter and Web3 ecosystems. Web3 is a natural social graph and there is a similarity between tweets and transactions, replies and logs. Both Web3 and Twitter are open platforms and publicly visible. Twitter is able to deliver scalable and efficient performance when a query is placed as the system can easily find the related data in one place. The existing applications of Web3 are simply not equipped to match such user experience and performance as they can not aggregate the relevant data like this. Blockchain transactions across the top 10 chains have increased by 100 times in the last two years and if Web3 continues on its growth trajectory, the present data infrastructure solutions will face a myriad of new and complicated issues. Furthermore, joining on-chain and off-chain data proves to be even more problematic.
Why ZettaBlock?
This is the reason ZettaBlock was created. Thanks to ZettaBlock, developers can build real-time, public-facing, reliable GraphQL APIs via SQL in minutes. They just need to specify the related data they want to query and ZettaBlock aggregates all relevant data. They need not worry about data processing in their frontends or backends also. It is extremely beneficial for the developers as they can focus on the core functionality of their DApps while building on top of structured reliable data. We have a multi-chain vision and currently, we support Ethereum, Polygon, Binance, Arbitrum, Aptos, Solana, Ripple XRP and IoTex.
If you are a developer building a DApp, you can use simple, scalable API endpoints provided by ZettaBlock to access and query on-chain data as well as off-chain data. Suppose you want to integrate on-chain data and your own off-chain data or data from any social media seamlessly into your DApp. With the help of ZettaBlock, you can do it within a few minutes via the common APIs and embedded charts. You just need to interact with a few user-friendly APIs that provide efficient access to numerous previously siloed data sources. Integrating your business logic is also easy as the APIs are customisable.
ZettaBock can save months of developmental work and will reduce 90% of the annual development costs. The platform provides a full-stack solution that no other existing project offers. Here you get a platform with streaming, OLTP indexing, OLAP analytics, visualization architecture and so many blockchain datasets ready to use. Complex query patterns like ‘Join’ and ‘Group by’ are supported by the platform. Users often face issues with API response time but ZettaBlock supports low-latency APIs (<50ms). The off-chain and on-chain data unification are completely unique in ZettaBlock. If you are building a data-intensive scalable DApp, try ZettaBlock to ensure near-perfect system uptimes (99.99%) and work with real-time data.
ZettaBlock provides you with a comprehensive development toolkit. Read this 10 min Quick-start Guide that will help you to start building on the next-generation Web3 stack. You can also schedule the Demo here.
Time to build with ZettaBlock!!
Important Links:
Website: https://www.zettablock.com
Twitter: https://twitter.com/ZettaBlockHQ
This article was first published here.
Follow Me
👉 Twitter @paragism_
- Loading comments...