Web3’s critical infrastructure, what is SINSO’s data-oriented programmability?
SINSO is a project focused on distributed cache networks and data programmability. Distributed cache networks are a field that is attracting attention as one of the Web 3.0 (distributed web) infrastructures.
Web 3.0 use cases are not limited to DeFi (decentralized finance), GameFi (game + finance), and NFT (non-fungible token). The core concept is based on a “data-driven world”.
The elemental technologies required for blockchain use cases have changed with the technological evolution of the architecture. Just as an airplane can only be supported by an aerodynamic engine, it needs a rocket engine to fly into space.
In the data-oriented world, an important foundation is the existence of the Filecoin Virtual Machine (FVM).
By complying with “Turing completeness,” which Bitcoin failed to achieve, Ethereum allows programs to run in a state machine called the “Ethereum Virtual Machine (EVM).” A few years after its birth in 2015, it has demonstrated its performance in the field of DeFi (decentralized finance) and shocked the world.
And in 2023, Filecoin (FIL) is about to form a new data-oriented paradigm. Filecoin is known as a decentralized storage network, but its vision is vast. By understanding Filecoin's vision, you will have a better understanding of SINSO's project.
Environment that Filecoin changes
In conclusion, Filecoin is about to bring “a Turing-complete computing environment that integrates off-chain data.”
Ethereum's uses are not limited to DeFi and financial use cases, but the main difference with Filecoin is the ability to obtain external data. Ethereum also has oracles such as Chainlink, but they are biased toward financial scenarios such as exchange feeds, and are relatively weak in areas other than DeFi.
Filecoin was built to permanently store valuable data of human society, and the community is now developing a new decentralized infrastructure called “programmable storage” that combines smart contracts with large amounts of off-chain real data. We are focusing on building the structure.
FVM is compatible with the Ethereum Virtual Machine (EVM), making it easy to implement in dApps (decentralized apps). Furthermore, there is a feature that does not require a data verification oracle to obtain verification proof of data stored in the local environment.
This property makes the data itself the subject of the transaction and solves a key problem in managing data assets when the integrity and authenticity of data must be protected.
Filecoin plans to achieve its own programmability in the first quarter of 2023. This could move the digital economy to the next stage and explore new use cases.
FVM is expected to further expand the economic sphere of Filecoin, further increase the value of network participants, and stimulate market demand for storage space.
Many developers will be able to build on the Filecoin network and participate in the creation and acquisition of value related to data. Filecoin storage services are expected to become more comprehensive.
Outlook of SINSO
SINSO predicts that due to the expansion of Filecoin, “data” itself will be traded as a high-value asset in the future Web 3.0 world. In preparation for the coming data-oriented era, SINSO provides programmable frameworks and middleware.
The project team emerged as a top 11 team at Filecoin's 1st Frontier Accelerator Camp. At the start of the project in 2021, SINSO initially focused on the medical field, partly because the team members had many years of experience in medical big data.
Currently, SINSO is evolving into a more general Web3.0-based architecture, but medical use cases are approaching the production stage ahead of others.
For example, the data-oriented programmable framework “SINSO DAC” is considered a middleware system suitable for Web3.0 products.
SINSO DAC can be used to build a data-oriented DAO (Decentralized Autonomous Organization), and indeed the SINSO team will release a medical data decentralized insurance contract based on the data DAO.
Until now, BigTech's medical information management platforms, such as Google Health and Microsoft's HealthVault, have been shut down mainly due to data protection issues. However, SINSO's decentralized application eliminates the need for a data intermediary, enabling the capitalization and automated trading of public health data while clearing privacy challenges. Everyone can be a producer of personal health data.
In 2023, SINSO is focused on delivering satisfactory results based on its data-oriented programmable framework and middleware roadmap. In the future, we plan to announce more practical examples as appropriate through alliances with global partners.
What is Web3
The current centralized web is defined as Web 2.0, and refers to an attempt to realize a non-centralized network using blockchain. A typical feature is the use case of decentralized networks such as blockchain, such as access to dApps using virtual currency wallets.