2. Web3 Solutions

2.1 Data Storage Solutions

During the era of Web 2.0, data was centralized on single server systems, which presented issues such as ownership and privacy. Decentralized storage and distributed search based on blockchain technology can address these problems and lead society into the era of Web 3.0.

2.1.1 Decentralized Storage

Decentralized storage distributes data to multiple network nodes and stores client data based on smart contracts, forming a peer-to-peer distribution service that can store, propagate, and distribute information nearby. This approach improves storage efficiency while reducing storage costs.

2.1.2 Distributed Storage and Web3

Decentralized storage networks are jointly built and operated by ordinary users, and any computer can become a node. The network does not require permission, and nodes can join at will. This openness meets the needs of data storage network expansion as the data economy develops and the demand for storage scale expands. In the data economy era, every user and data producer will become a node of the network to store data and carry out economic activities.

2.1.3 Advantages of Distributed Storage

Distributed storage improves reliability, availability, and access efficiency while minimizing the unstable factors introduced by common hardware. It also supports multiple-point-in-time snapshot technology for backing up various versions of data at certain intervals. Additionally, it allows high-speed and low-speed storage to be deployed separately or in any proportion, ensures consistency of multiple copies, and provides disaster tolerance and backup. With a reasonable distributed architecture, distributed storage can predict and elastically expand computing and storage capacity, as well as performance. Standardization of the storage industry is also advancing continuously, with distributed storage giving priority to using industry-standard interfaces for storage access.

2.1.3.1 High Reliability

Distributed storage has a very powerful means of multiple-point-in-time snapshot technology, which allows users to back up various versions of data at a certain time. Multiple-point-in-time technology can support the simultaneous extraction of multiple samples and can restore data at the same time.

2.1.3.2 Support for Tiered Storage

Due to the loose coupling through the network, distributed storage allows the high-speed and low-speed storage to be deployed separately or in any proportion.

2.1.3.3 Consistency of Multiple Copies

Unlike traditional storage architectures that use RAID mode to ensure data reliability, distributed storage uses a multi-copy backup mechanism.

2.1.3.4 Disaster Tolerance and Backup

In the disaster tolerance of distributed storage, a crucial means is multiple-point-in-time snapshot technology, which enables the user's production system to save various versions of data at certain time intervals.

2.1.3.5 Elastic Expansion

Thanks to a reasonable distributed architecture, distributed storage can predict and elastically expand computing and storage capacity, as well as performance.

2.1.3.6 Storage System Standardization

With the development of distributed storage, the standardization of the storage industry has also been advancing continuously. At present, distributed storage gives priority to using industry-standard interfaces (SMI-S or OpenStack Cinder) for storage access.

2.2 DID Identity System Solution

2.2.1 About Wealth Message's DID Identity System

DID changes the traditional definition of individuals. Wealth Message's DID identity will have the following three characteristics: low consensus cost, composability, and native globalization. The difference between DID and traditional real-world identity systems is one of the elements that can bring a qualitative change to Web3. Wealth Message's DID is a decentralized social graph protocol that can help Web3 applications harness network effects.

Wealth Message DID will be built on top of the Wealth Message network module. It enables users to truly own their social identity, content, and relationships in social networks and provides developers with a rich toolkit to build meaningful social applications.

Compared to traditional PKI-based identity systems, distributed digital identity systems built on blockchain have characteristics such as guaranteed data authenticity, privacy protection, and strong portability. Their advantages include:

● Decentralization: Based on blockchain, it avoids identity data being controlled by a single centralized authority.

● Autonomous identity: Based on DPKI (Distributed Public Key Infrastructure), a user's identity is not controlled by a trusted third party but by the user themself. In other words, individuals can autonomously manage their own identity.

● Trusted data exchange: Identity-related data is anchored on the blockchain, and the authentication process does not depend on the application that provides identity.

2.2.2 Advantages of Wealth Message DID Identity System

Socialization is a fundamental human attribute, and social data is a valuable asset for individuals. Some applications obtain data from users' personal social networks. These social data, which are generated by users using the system, should be owned by the users who have the right to decide who can use them. However, in reality, applications often authorize the use of this data to other parties for commercial purposes, without the consent of users.

Once personal identity data and accompanying social data are owned by one party, there are mainly the following risks:

● Malicious competition for commercial purposes

● Low user controllability and high data leakage risk

Therefore, the DID identity system has become a much-needed technology in today's booming Internet age. From a functional perspective, DID is defined mainly by the following three characteristics:

● User-centered: users have control over identity data;

● Selective use: users can choose the appropriate DID according to their habits and application support;

● Safe and reliable: data will not be transmitted or circulated without the user's permission.

In terms of functional requirements, defining DID from a technical perspective mainly includes the following four characteristics:

● Distributed governance and management to avoid monopolies and malicious operations;

● Multi-dimensional system to describe user identities, covering various user identity systems;

● Identity declaration and authentication based on digital signature, with users’ permission of the identity operation;

● Identity protection based on encryption, preventing data from being maliciously stolen or leaked.

Based on the characteristics of the technical dimension, it can be analyzed that blockchain technology is a better choice for implementing DID, mainly for four reasons:

1) The distributed consensus feature of the blockchain is helpful for realizing distributed governance and management;

2) The blockchain's smart contract technology is helpful for realizing a multi-dimensional identity attribute description system;

3) The blockchain's immutable ledger and digital signature application is effective for realizing identity declaration and authentication based on digital signature;

4) The blockchain currently integrates many zero-knowledge proof solutions to support the implementation of identity protection based on encryption.

2.3 Value Distribution System Solution

2.3.1 Blockchain-based value distribution systems will become an essential component of global economic development.

In 2020, IBM consulted and compiled reports from multiple companies, including trade firms, banks, financial institutions, and internet companies. It summarized three key objectives of value distribution in future commercial activities using blockchain technology:

● Blockchain participants hope to achieve an average investment return of 20% within four to five years and over 50% within ten years.

● 88% of organizations consider cross-network data standards as an important prerequisite for joining industry-wide blockchain networks.

● Within the next three years, 85% of surveyed CTOs and CIOs intend to use various blockchain technologies.

2.3.2 Blockchain can fulfill four principles of value distribution systems:

In response to the numerous issues that have arisen in the digital content industry, blockchain has become an essential solution. While some studies have begun to focus on the application of blockchain in the digital content field, these studies are often limited to a certain aspect and lack a thorough analysis of the platform's architecture and new dynamics from a commercial perspective. Moreover, they also fail to understand the far-reaching significance of blockchain-based digital content platforms from a macro value chain perspective. The design of new commercial digital content platforms should adhere to the following four principles:

● Support both high response and decentralization of the platform

● Support convenient and efficient copyright protection

● Implement open and transparent incentives for users

● Support service providers to access and build various business forms