Press release
PRESS RELEASE.Serge Var, Co-Founder and CEO of Point Labs gave this title at the 2022 Web 3.0 Conference.
Serge presented arguments that despite numerous projects calling themselves “Web 3.0” and “decentralized”, we are not quite there yet: we’re still relying too heavily on centralized systems, using centralized domains that can be taken away by governments or hijacked, untrusted centralized storage where the UI is stored, and browser extensions that can disappear tomorrow at Google’s whim.
The only decentralized part of a typical “decentralized application” turns out to be the smart contract, with everything else open to being compromised.
Such Frankenstein’s monsters crossbred from Web2 and Web3 parts (what many nicknamed Web 2.5) lead not only to multiple security fiascos, such as BadgerDAO recently losing $120M of participants’ funds because of a centralized UI that had been hijacked, but also gives a premature bad rap to the Web 3.0 concept itself, when people are confused about how their NFTs on the supposedly censorship-resistant and decentralized internet can get censored on OpenSea and then disappear from their Metamask wallet.
The New Paradigm
Point Labs’ team developed an architecture to allow for total decentralization of tech stacks after months of intense research. Point Network. It is the first time that, rather than trying to integrate blockchain into Web2’s paradigm, there is now a totally separate network that can be called Web3.
It works by using a mixture of decentralized technologies to replace the weak components of the internet.
“What’s the Point?”
Point Network allows you to deploy any decentralized application that you are familiar with and enjoy. uniswap.orgAccess the site by clicking here uniswap.pointTo make deployments as quick and easy as possible, Point will pop-up instead of Metamask/ Phantom.
But, underneath the hood, apps are completely decentralized. The UI and smart contracts as well the domains and identities all live on the blockchain. This means that dApps are completely censorship-resistant, publicly auditable, and completely auditable. There are many interesting use cases for the fact that every update to a website’s website is a transaction on a blockchain. One of these being multisig domainsA website update must be approved by multiple developers. An attacker would then have to attempt to breach all the sites.
Point Network offers several other demo dApps: Point Social, Point Mail (end to end encrypted mail), Point Social and a Multi-Chain Point Wallet.
“When Web3?”
Point Network is in an initial stage, but it already has the potential to be the web3 standard.
Point Labs published a public alpha version for Solana Ignition’s hackathon in October 2013. They have since been on the Judges honorary list of projects and raised several VC rounds, including from Arweave Solar Eco Fund Zoomer Fund Definitive, Sino Global Capital, Arweave Solar Eco Fund, Zoomer Fund, Definitive, Chorus One, Definitive, Definitive, Definitive, Definitive, Definitive, Definitive, Definitive, Definitive, Solar Eco Fund, Solar Eco Fund, Solar Eco Fund, Solar Eco Fund, Solar Eco Fund, Solar Eco Fund, Solar Eco Fund, Solar Eco Fund, Zoomer Fund, Solar Eco Fund, Solar Eco Fund, Solar Eco Fund, Solar Eco Fund, Solar Eco Fund, Solar Eco Fund, Solar Eco Funds, Solar Eco Fund, Solar Eco Fund, Zoomer Fund, Solar Eco Fund, Solar Eco Fund, Solar Eco Fund, Solar Eco Fund, Zoomer Fund, Solar Eco Fund, Solar Eco Fund and Zoomer Fund.
Their goal now is to leverage their growing team of engineers and release beta versions in time for launch mid-2022, which is only a few more months away. This will make web 3.0 available to everyone.
Web 3.0 is obviously here to stay, and it’s going to be as big of a deal as was the birth of the internet. It is important to get familiarized with the rapidly expanding field as quickly as possible so that you can be an effective part of this growing industry. You can learn more about Point Network’s role in it by joining conversations in their growing community of early adopters on Telegram: https://t.me/pointnetworkchat, or on their website https://pointnetwork.io/
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