Computecoin raises 6.2 million to power the Web3 infrastructure

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ComputeCoin announced that the company has secured $ 6.2 million in strategic funds led by Aves Air. The network provides decentralized infrastructure for Web3. This is interesting because, although decentralization is one of the central aspects of Web3, the reality is that many Web3 applications are still deployed on the Web 2.0 infrastructure. This leads to failures, as well as being diametrically opposed to one of Web3’s mantras. AWS is an example of one such company operating a huge amount of Web3 network. We met with Dr. Max Li, co-founder and CEO of ComputeCoin, who only met in 2018 with the aim of “making global and distributed computing and storage power widely available for all Web3 builders to use easily “, To get some answers. (CT): people often cite decentralization as one of the main benefits of the metaverse and cryptocurrency in general. But given that so much Web3 infrastructure is built through centralized providers (e.g. AWS), is Web3 actually much more centralized than people think? Dr Max Li (ML) : Definitely! Many DAOs run their communities on Discord, while OpenSea hosts NFT photos on GCP (a centralized platform that’s happy to comply with DMCA removals). Our website is powered by Webflow and guess where Webflow is hosted? AWS! CT: What problems can arise from a large part of this ecosystem that depends on centralized means? ML: Basically the main problem is that legacy cloud service providers face significant limitations: Calculation capacity (coverage and latency ): we have read that VR, AR and XR are part of the new Web3 standards. Most people do not understand that these experiences require continuous computational requirements of a magnitude unprecedented in human history. Legacy vendors don’t offer enough power; they are simply unable to meet these demands. Latency and coverage issues will continue to ruin the concurrency and immersion experience that is critical for the next generation of the internet. For example, network latency can cause VR gamers to experience motion sickness, which obviously goes against VR’s main goal: to evoke a sense of total immersion and verisimilitude. Price: For users, access to high-quality, low-latency, and resource-rich storage and processing power is still too expensive. This greatly affects the scalability of web applications3. Prices will have to go down to maximize the prospects of Web3 and metaverse applications on the market. TC: We have seen in the past with the success of BSC that sometimes people are happy to sacrifice decentralization for ease of use, efficiency and low rates. Do you think this could be a trend for the future? ML: Users will always consider ease of use a priority. However, the crypto space is finding more and more ways to make things easier and more efficient to use in the most decentralized way. For example, there is a debate on how decentralized L2 over ETH will be. , but ZKP’s innovation and other privacy standards will bring more attention to these chains. That’s why there is more TVL stuck on Layer 2 than BSC. Also, projects with large ecosystems, such as Solana, Avalanche, etc., will be linked by cross-chain bridges ( i.e. interoperability), which allow users, miners and / or resources to move freely between these projects to facilitate decentralization without compromising ease of use. CT: What are the main advantages that Computecoin offers the average user of Web3 ? ML: Computecoin aims to provide all services offered by AWS, but in a decentralized, low-cost, low-latency and generally superior performance manner. Just like Expedia provides an end-to-end booking solution that eliminates steps, simplifying the booking process and ensuring a smooth journey for customers, Computecoin provides an end-to-end solution that flattens the cu rva of learning faced by Web3 developers when it comes to using decentralized clouds, such as Filecoin and Dfinity. Therefore, Computecoin will simplify the development and deployment process and ensure a seamless transition to Web3. CT: What are your predictions for Computecoin’s long-term growth? What is the potential market size here? ML: Our vision is to do for Web3 what centralized cloud providers did for Web2. Computecoin aims to provide all services offered by AWS but in a decentralized way, targeting SMEs (small and medium-sized enterprises). According to a report by Grand View Research, the world cloud computing market should be worth 368, 97 billions of dollars in 2021, with a compound annual growth rate (CAGR) of 15, 7% predicted by 2022 to the 2030. By the end of 2020, the 35% of SMEs spent between 600. $ and 1. 200. 000 $ in public cloud services, according to a report by Statista published in 2022. We estimate that there is a market $ 5 billion for Computecoin in cloud computing. CT: Have many companies tried to fill this gap in the past? What distinguishes Computecoin? ML: Web3 developers who wish to deploy and run their Web3 dApps on other infrastructures in this space, such as Filecoin and Dfinity, face a steep learning curve. This results in a key pain point for today’s industry: Web3 applications are still deployed and running on the Web2 infrastructure. In contrast, Computecoin (CCN) is a ‘ decentralized cloud infrastructure that powers Web3 and all-purpose metaverse services with Web2 compatible development tools and APIs. There is no learning curve that developers have to overcome before they can make the most of CCN’s underlying decentralized clouds. Therefore, Computecoin will allow developers to seamlessly switch to Web3 / metaverse. CT : Amidst all the headwinds of the macro and bearish cryptocurrency market, do you think retail capital will continue to exit high volatility and risk and is this a concern to you? ML: Maybe in the short term, but I see this as an opportunity over time. The “crypto fever” will cool down, but I think we all agree that technologies – blockchain, AI, edge computing, IoT, VR / AR, etc. – I’m here to stay. So what this bear market probably means is that capital and token holders will become more cautious and smart, which is good news for us. How come? Because here we are working on the IT infrastructure of Web 3.0 and the metaverse. We’re not here to cash in on a trend. The innovations that make Computecoin unique are the product of the hard work of dozens of researchers in university laboratories. We see investors and the market becoming more selective as an advantage and motivation for us to work harder. More demanding investors and a more sober market would mean less competition. In the meantime, we would have more time to cultivate and continue improving our project without worrying too much about “keeping up” with the industry.