In the past Hong Kong Web3 Carnival series of activities, Okey Cloud Chain has brought a new industry perspective as a special data service provider on the chain. Jiang Zhaosheng, a senior researcher at the research institute of the group, observed that the "data revolution" covered by Web3 is not only Limited to the blockchain field, the Web2 industry also has needs.
With the transparency, non-tamperability and availability of blockchain data, Web3 data can realize the circulation between the chain and the chain, and improve the ownership and value expression of Internet data.
Whether it is cooperating with the Shanghai Data Exchange or building a risk control system for traditional financial service providers, Okey Cloud Chain has seen the enthusiasm of the traditional Web2 industry for Web3, "building a data bridge", this security and data service provider is based on The identity of a Web3 native enterprise expresses its welcome to Web2, which is a gesture of expanding the circle.
British data scientist Victor Meyer Schoenberg once imagined in his masterpiece "The Era of Big Data": "In the future, data will become a fundamental resource in economic operations like land, oil and capital." This day It is coming, as the asset attributes of data are recognized, controlling data means controlling value.
Building a Bridge of Numbers: Traditional Enterprises Can Also Directly Connect to Web3
In the past week, there has been a Web3 storm in Hong Kong. Various blockchain projects, investment institutions, encrypted art platforms, encrypted asset service providers, etc. have gathered here to tap the potential of Web3 under the recent favorable local policies.
Among all the roles participating in this carnival, Okey Cloud Chain is an existence that focuses more on objective technology. In the entire Web3 ecosystem, it is highly focused on one thing - data. Because of this, it looks at Web3 from a more rational perspective, "It is true that the Internet revolution is true, but the complexity of the data on the chain is also full of challenges that need to be solved, so professional service providers like Okey Cloud Chain must be resolved. "
How to understand "revolution"? On April 14th, in the "Confrontation" Digital Encryption Art Salon hosted by "Metaverse Daily Explosion", Jiang Zhaosheng, a senior researcher at the Okey Cloud Chain Research Institute, summarized it as "the process of fully transferring data from off-chain to on-chain" .
Jiang Zhaosheng, Senior Researcher of Okey Cloud Chain Research Institute
The transfer of data from off-chain to on-chain is the main sign of the evolution from Web2 to Web3. Most of the time in the past, the data generated by people on the Internet was stored in the databases of various applications. These data were privatized by the applications, and users did not know where the data was placed and where it was used. The value generated by the data is captured by the application, and users have to beware of the risk of privacy leakage.
In the Web3 era, data is no longer stored in a centralized entity, but on an immutable and transparent blockchain. The user's data can determine the ownership, and can be circulated independently or directly realized. At this time, data has truly become an asset, with value expression and market pricing. A typical example is that when a user creates an artistic picture on the chain, this picture becomes a data asset under the user's address, which can be stored by itself or sold to the market.
"A car, a house, a beautiful piece of music, even a wonderful goal in the World Cup in Qatar, these things that we think are valuable or meaningful, can have value through digitization in the Web3 world, "Jiang Zhaosheng said that the blockchain will solve the problems of Internet data ownership and value expression, and promote the innovation of production methods, organizational order and economic form.
With the awakening of user data awareness and gradually realizing the asset attributes of data, the transition from Web2 to Web3 has become an irreversible trend. Jiang Zhaosheng found that recently more and more companies from the traditional financial circle and technology circle want to enter the Web3 industry, especially under the tutelage of Metaverse and AIGC, the world is ushering in a world where "data is not everything, but everything will become data" era.
As a Web3-native enterprise specializing in on-chain data, Okey Cloud Chain chooses to "turn back" and build a data bridge between the gap between Web2 and Web3, allowing traditional enterprises to pass through quickly.
In October last year, Okey Cloud Chain reached a cooperation with Shanghai Data Exchange, becoming the first and only data provider related to blockchain data in Shanghai Data Exchange. As a national data exchange, Shanghai Digital Exchange has provided a platform for domestic data element trading and circulation since its establishment in 2021. In August 2022, the Shanghai Digital Exchange established a digital asset trading section to promote the digital transformation of traditional enterprises.
The cooperation between the two parties means that the Shanghai Digital Exchange will focus on the data sector on the chain. Behind this, it reflects the needs of more and more traditional enterprises to explore Web3, explore and mine the value of data on the chain. "We found that Web2 Enterprises have completely different perspectives on Web3 data, which will bring beneficial supplements to the Web3 ecosystem."
Jiang Zhaosheng revealed that at present, a large number of traditional financial institutions have entered the Web3 market to carry out digital asset business layout. "These financial institutions are most concerned about risk control, and we will build a special risk control system for them based on the data on the chain, quickly verify whether some of their business logic is in line with the entire production development law, and help them manage business risks."
For traditional enterprises, on-chain data service providers such as Okey Cloud Chain are becoming an indispensable platform facility for them to enter the Web3 field.
Controlling the data on the chain can make money and prevent hackers
Whether it is a traditional enterprise or a user who is accustomed to Web2, when accessing the data on the chain, it is often difficult to find a clue. Especially with the growth of applications on the chain and the explosion of users, the volume of blockchain data has become increasingly large, and it has also continued to expand to different types and structures such as text, pictures, videos, and documents. In the eyes of laymen, the data on the chain is like an intricate ball of yarn, and it is difficult to concisely capture useful information from massive data.
Under such circumstances, the value of on-chain data service providers has become increasingly prominent. Looking at the global market, this track has long been valued overseas, and a number of leading on-chain data service providers such as Chainalysis, Glassnode, and Nansen have emerged. In the domestic market, the data segment on the chain is still unpopular, and only a very small number of technology companies headed by Okey Cloud Chain are deeply involved in it.
On the one hand, this is due to the fact that many overseas countries have adopted experimental "regulatory sandbox" policies for the blockchain, which are more flexible; more importantly, the reason is that the threshold for cultivating the data track on the chain is relatively high. Blockchain technology and the virtual asset industry have sufficient awareness, but also need continuous research and development investment to track the ever-increasing massive data, which requires a long process from quantitative change to qualitative change.
Jiang Zhaosheng revealed that the Okey Cloud Chain currently has a data storage capacity of more than 1,000TB, and has fully analyzed the full chain data of more than 30 public chains. It also has 6.3 billion transaction data, 2.7 billion address data and 2.7 billion label data. "This is the result of nearly 10 years of persistent accumulation in the industry."
"To understand data, the most important thing is to 'label'." Jiang Zhaosheng explained that in the process of data analysis on the chain, "labeling" different types of data is the most basic and core step. Only the labeled data can be used for further indicator and model analysis.
Common types of data tags on the chain include entity tags, behavior tags, and attribute tags. By analyzing data such as operating habits and behavior information of addresses on the chain, it can be determined that certain addresses belong to institutions, projects, exchanges or individuals, and describe Create user portraits to identify different images such as encrypted asset whales, "dead" depositors, or novice users.
When the users on the chain master the data on the chain, in addition to making investment decisions related to encrypted assets, the blockchain application side can also understand the user's behavior habits to adjust application deployment. In other words, only when the data is used well can the business model have a real basis.
Overseas, Chanalysis launched Market Intel, which provides transparent and visualized market data for encrypted asset users, mainly to help customers make investment decisions.
On the other hand, Okey Cloud Chain expands the scope of customer service. In addition to connecting Web2 and Web3 with data bridges, it is also solving the "last mile" for all applications interested in bridging with Web3 - providing mainstream public chain OpenAPI full Overlay, it is convenient for developers to build blockchain-related applications.
Based on data, Okey Cloud Chain provides a one-stop Web3 data analysis platform, which gathers all kinds of data on the chain, lists, giant whales, celebrities, SmartMoney and other panoramic data, and is driven by multiple ecological roles, including digital asset trading service providers, Investment institutions, application developers, etc., and the corresponding analysis tools can be used by universities, media, scientific research institutions, consulting agencies, and government think tanks.
The more important significance of controlling the data on the chain is to guard the security. At present, global virtual currency crimes are showing frequent and increasing year after year. The Chainalysis survey report shows that in 2022, the amount of illegal transactions and cybercrime in the field of cryptocurrency will hit a record high of 20.1 billion US dollars. Among them, the encrypted asset "black money" generated by illegal production is particularly easy to pollute the assets of normal accounts.
In the face of "technical" crimes that are proficient in the blockchain, only by being more professional can plug the loopholes. To this end, OnChain AML (on-chain anti-money laundering) integrated compliance solution has been launched on the Okey Cloud Chain to protect various formal entities in the Web3 ecosystem from illegal violations of "black money" and money laundering.
At the same time, Okey Cloud Chain is equipped with Tianyan Pro, a tool chain that assists law enforcement agencies. Through address analysis, transaction behavior analysis, relationship network analysis, transaction traceability and other product modules, it monitors and tracks assets on the chain and helps regulatory authorities crack down on digital currencies. crime. Last year alone, Okey Cloud Chain assisted the police in uncovering hundreds of virtual currency crimes, more than 40 major cases, and tens of billions of funds involved.
With the increase of various chain networks such as general-purpose blockchains and exclusive blockchains, the data explosion is a foregone conclusion. When "data is an asset" becomes a consensus, the curtain of Web3 will be officially raised, and the cooperation among large data service providers will be like a "prelude". Hong Kong will provide a new stage for the world, and the era of Web3 will not be far away.