Fluence Labs Showcases Decentralized Data Processing Prototype at Web3 Summit
Moscow based blockchain database provider, Fluence Labs just showcased a demo for their decentralized network that’s capable of processing and storing data from multiple sources at Web3 Summit — an event dedicated to decentralized developers.
A full-scale test of the network is on schedule and will be able to process and store data from both centralized and decentralized sources. It will also make the data accessible for applications via various data interfaces like SQL, NoSQL etc. The prototype plays like a proof-of-concept for the company.
According to Fluence, the number of decentralized applications (dApps) is growing in record pace with most of the necessary computing infrastructure still missing. They want to fill in this gap by providing a trustless decentralized platform for the applications, that will enable safe and efficient data processing and make the data accessible to apps by creating custom data interfaces.
With the current industry lacking wide user adoption for decentralized applications, Ethereum being the prime example with its scalability issues, Fluence network aims to become one of the backbones of the decentralized Web3.0.
With scalability one of the most important reasons why Blockchain applications are not yet mainstream, infrastructural developments like what Fluence is working on will help developers a lot that will, in turn, drive the usability and growth of the industry as a whole.
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.