Web 3.0 Streaming Services: A New Era of Transparency and Decentralization
Introduction
Web 3.0 is a blockchain technology-based internet paradigm that is transparent and decentralized. However, Web 3.0 streaming services require modifications to the existing service structure due to certain technical issues.
The Challenge of Implementing Web 3.0 Streaming Services
Web 3.0 is an internet paradigm that is based around blockchain technology, an advanced database mechanism. Compared to Web 2.0, the current internet paradigm, Web 3.0 provides some added advantages, such as transparency and decentralized control structures. This is because Web 3.0 is designed to work over trustless and permissionless networks. Unfortunately, owing to certain technical difficulties, the implementation of Web 3.0 media streaming requires modifications to the service architecture of existing media streaming services.
The Solution: Retriever, an IPFS-based Web 3.0 Technology and Non-Fungible Token Marketplace
To address these issues, a team of researchers, led by Assistant Professor Gi Seok Park from Incheon National University, undertook a novel project. Their findings were made available on 22 August 2023 and recently published in Volume 16, Issue 6 of the journal IEEE Transactions on Services Computing in November-December 2023. In this study, the researchers proposed an end-to-end system architecture that is specifically designed for Web 3.0 streaming services. They made use of Inter-Planetary File System (IPFS), a type of Web 3.0 peer-to-peer (P2P) data storage technology, to reduce service delays and improve user experience.
The Proposed System Architecture
The researchers designed a system in which they deployed their own IPFS nodes that ran directly on their system. They also implemented new protocols that cached content and scheduled chunks on their IPFS nodes, which enabled the nodes to collaborate with each other and quickly download data.
Retriever, a Non-Fungible Token Marketplace
The researchers also launched Retriever, a media non-fungible token (NFT) marketplace that was developed using Web 3.0 technologies. Retriever allowed users to watch video content, ensure data privacy, and was found to be compatible with multiple mobile devices.
Conclusion
The proposed system was found to be compatible with IPFS nodes and ran on IPFS P2P networks. The researchers’ findings demonstrate the potential of Web 3.0 technologies to revolutionize the way we access and interact with media streaming services. With Retriever, creators can now monetize their video content and ensure data privacy, while users can enjoy a seamless and secure streaming experience.
FAQs
- What is Web 3.0?
Web 3.0 is a blockchain technology-based internet paradigm that is transparent and decentralized. - What is the challenge of implementing Web 3.0 streaming services?
Implementing Web 3.0 media streaming requires modifications to the service architecture of existing media streaming services due to certain technical difficulties. - What is Retriever?
Retriever is a media non-fungible token (NFT) marketplace that was developed using Web 3.0 technologies. It allows users to watch video content, ensure data privacy, and is compatible with multiple mobile devices. - What are the benefits of using Retriever?
Retriever allows creators to monetize their video content and ensure data privacy, while users can enjoy a seamless and secure streaming experience.
