Recently, Penguin team has announced the launch of their decentralized data network for Web3.0. With the advancement of blockchain technology, some innovative new players are entering the market. Some are bringing the offline world to a global audience, while others transform the way we invest in our future. Decentralized applications, DeFi, NFTs, and the Metaverse, hold immense potential for future growth and real-world uses. But what the current crypto arena lacks is an independent & one-stop web service that includes a high-performance smart contract blockchain together with a decentralized storage solution. The Penguin network brings in a universal decentralized data network specifically designed for Web 3.0.
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Penguin – The Decentralized Storage Platform
Exclusively designed for Web 3.0, Penguin is a peer-to-peer network of nodes, which jointly provides decentralized storage and communication service. By offering a universal decentralized data network for Web3.0, the platform can fulfill multiple roles for different areas of blockchain space. Moreover, Penguin aims to work with the blockchain industry to create decentralized applications (DApps), products, and services seamlessly accessible in Web 3.0.
A unique feature of the platform is that it offers automatic scaling; that is, an increase in storage space demand would be efficiently handled. This will eventually lead to a lowering of costs for the blockchain arena. Penguin also facilitates efficient data storage capabilities and quick data retrieval. The network is economically automated with a native protocol token, PEN, thanks to its built-in smart-contract-based incentive system.
Therefore, the purported goal of the platform is to extend the blockchain by utilizing decentralized storage and communication to position itself as a world computer that can efficiently serve as an operating system and deployment environment for dApps.
Web 3.0 – The Decentralized Internet of the Future
Web 3.0 is not merely a buzzword that tech, crypto, and venture-capital classes have become interested in lately. It aims to provide a future where distributed users and machines can seamlessly interact with data, value, and other counterparties through peer-to-peer networks, eliminating the need for any third parties. It is built majorly on three novel layers of technological innovation. Those are edge computing, decentralized data networks, and artificial intelligence. Web 3.0, built on blockchain, eliminates all big intermediaries, including centralized governing bodies or repositories.
Moreover, the most significant evolution enabled by Web 3.0 is the minimization of the trust required for coordination on a global scale. It fundamentally expands the scale and scope of human and machine interactions to a far new level. These interactions range from easy payments to richer information flows and trusted data transfers, all without passing through a fee-charging intermediary.
Web 3.0 enhances the current internet service with significant characteristics like trustless, verifiable, permissionless, self-governing, etc. This is why a permissionless, decentralized blockchain like Penguin plays a pivotal part in developing the so-called “decentralized internet of the future.” Decentralized data networks like Penguin make it possible for data generators to store or sell their data without losing ownership control, compromising privacy, or reliance on intermediaries or go-betweens.
Blockchain Technology and Web 3.0
Blockchain technology and cryptocurrencies have always been an integral part of Web3.0. It provides financial incentives for anyone who wants to create, govern, contribute, or improve projects. Today the internet needs Web 3.0, a new generation of the Internet protocol that facilitates free identity, free contracts, and free assets. Blockchain technology with its advanced network fundamentals offers a near-perfect solution with in-built smart contracts for self-deployment and access, decentralized addresses as accounts, etc. Penguin, the decentralized data network, provides an available decentralized private data storage solution for all Web3.0 developers.
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How Does Penguin Benefit The Development Of Web 3.0
Today we live in a data-driven world, where companies often collect massive amounts of user data and use this data with the intent to deliver value. Data privacy has become a greater concern over the past few years. However, the Internet ecosystem has fundamentally changed several concerns like data privacy and storage. This is referred to as Web 3.0, and it ensures this by deploying blockchain.
Penguin primarily focuses on data storage with zero downtime. It also features permanent versionable content storage, zero error operation, and resistance to intermittent disconnection of nodes.
With its exceptional privacy attributes like anonymous browsing, deniable storage, untraceable messaging, and file representation formats that leak no metadata, Penguin meets with the growing security demand on the web. […]
source Penguin Releases the Decentralized Data Network for Web3.0
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