Fearless of the bear market, distributed storage reignites the Web3 craze

On July 30, 2023, CESS Chinese Community's latest Twitter Space successfully concluded! The total number of viewers reached 118K, with a peak concurrent audience of 4.2K. The atmosphere was lively as the audience streamed in, making it a rare high-traffic Space in the Web3 industry recently.

CESS Co-founder and COO Jessie was the official guest, with Teacher Jia Xiaobie, who has interviewed Vitalik Buterin, as the host. Additionally, several prominent guests from 8btc, IG Capital, and Sandbox shared and exchanged ideas on the topic of "From Filecoin to CESS: How Distributed Storage Reignites the Web3 Craze." It was a pleasant surprise that AlanSun, the special host from Binance Chinese Community Space, appeared in the live room that evening to engage in a lively discussion with the guests, sharing his unique perspectives and insights.

If you missed the live broadcast, click the link below to watch the replay.

Space replay link: https://twitter.com/i/spaces/1lPJqBbWArdxb

Not only did CESS host a Twitter Space that ignited the Chinese community, but the CESS team also participated in numerous industry events in July. The impressive showcase at Decoded is still fresh in our minds (Review of Polkadot Decoded 2023: CESS Leads Decentralized Cloud Storage), and the trip to Japan for WebX allowed CESS to engage in in-depth exchanges with many outstanding projects in the industry. Let’s take a moment to revisit the highlights of these events.

Fearless of Bull and Bear Markets, Distributed Storage is the Main Narrative of the Industry

The concept of Web3 is undoubtedly hot, having gradually penetrated various fields such as the internet and artificial intelligence since last year. However, the overall market situation is still in a bear market cycle. Whether it’s NFTs, blockchain games, DeFi, or the distributed storage track, things appear quite "calm."

Senior reporter Wang Jiajian from 8btc was invited as a guest and has a deep understanding and research background in the distributed storage track. From the perspective of technological and application development, he pointed out the current situation and future market space for distributed storage: First, decentralized distributed storage as the infrastructure of Web3 does not have as many projects as DeFi or GameFi, leading to a "hundred flowers blooming" scenario. Instead, due to the smaller number of projects, market attention is concentrated, creating a significant head effect; second, as an infrastructure project that can easily be "marginalized," the development of this track is quite remarkable, continuously launching new technologies and applications. Storage projects like CESS are also pragmatically researching technology, aiming to achieve scalable distributed storage technology.

AlanSun, the special host from Binance Chinese Community Space, also stated that currently, decentralized storage applications and products for ToC in Web3 have not entered the market's vision, and the development on the ToB side has just begun. He envisions that when the next big cycle begins, decentralized cloud storage, by meeting the essential B-side needs, may drive the development of the entire track. Therefore, the decentralized cloud storage track still has great potential and opportunities, but its timing for "takeoff" and development path is closely related to the industry's big cycle and the main narrative of Web3.

CESS, the Third Generation Decentralized Storage Protocol

So, what stage is this track currently at? What kind of decentralized cloud storage does the industry need?

CESS Co-founder & COO Jessie believes that there are three important modules underlying the Web3 industry: decentralized computing, storage, and retrieval. Without mature underlying construction, it will be challenging to achieve the future upgrade of the internet. In the Web3 field, decentralized storage is not only one of the three pillars of blockchain technology but also one of the earliest and most important infrastructures.

Decentralized cloud storage has actually entered its third generation since its development. The first generation proposed the concept of decentralized storage, having only a token mechanism without achieving actual storage functionality, thus becoming merely a mining project; the second generation of decentralized cloud storage protocols features a complete protocol layer, storage underlying architecture, and incentive economic model, achieving basic storage functions and simple storage retrieval. It is evident that this does not meet the actual needs of the industry.

Thus, the third generation of decentralized storage protocols has emerged, with CESS as a representative project dedicated to serving large-scale commercial storage, establishing a fully functional and complete storage network and future content distribution network. The third generation decentralized storage protocol must possess:

1. A complete decentralized storage protocol;
2. A meticulous underlying architecture design;
3. A scientific economic model and incentive mechanism;
4. Support for high-frequency dynamic data storage in Web3;
5. Data that can be created, retrieved, edited, updated, and deleted;
6. Support for data monetization and value circulation;
7. Realization of data sovereignty protection and privacy protection;
8. Truly provide commercial storage services for enterprise-level users;

And this is also the direction that CESS has already achieved and is working towards. CESS is the first blockchain network to support large-scale commercial storage and is a secure, efficient, open-source, and scalable decentralized storage network. CESS provides the best solutions for storing and retrieving high-frequency dynamic data in Web3. The pioneering decentralized object storage service (DeOSS) by CESS is the S3 of the decentralized storage field, truly meeting the commercial storage needs of enterprise-level users.

Jessie believes that the next generation of the internet is value-interconnected. Therefore, CESS is both a storage public chain and a data value network. CESS supports the monetization of data value and the free circulation/sharing of data value within the network, while achieving user data privacy protection and absolute data sovereignty in a trustless manner.

WebX, Japanese Users Experience the Technical Charm of CESS

At the previous WebX exhibition, CESS's innovative technology had already attracted significant attention from many attendees. The CESS team showcased its innovative achievements and technical strength in the blockchain technology field alongside many outstanding projects. During face-to-face interactions with local users, the CESS team found that Japanese users are highly concerned about the technical foundation and development prospects of projects, and their community loyalty and trust are very high. Therefore, CESS's commitment to developing decentralized cloud storage technology for four years and actively exploring the local market, hosting various WebX-related community activities, has garnered greater attention from local users towards CESS. CESS at the surrounding event INOVAI TECH After Party CESS in Japan Alibaba

Conclusion

As a representative project of the third generation decentralized storage protocol, CESS will continue to build data storage networks and content distribution networks, providing decentralized full-stack solutions for high-frequency dynamic data storage in Web3, supporting enterprise-level and phenomenal decentralized applications (DApps).

At the same time, as a data value network, CESS realizes the monetization of user data value and the free circulation (trading/sharing) of data value, protects data privacy, and returns data to the data owners themselves, contributing a solid storage infrastructure to the development of the Web3 industry.