Dr. Qi Zhou, the founder of EthStorage, gave a talk at The Crypto Economics Security Conference (CESC) UC Berkeley on Nov 1. The talk was titled “On the Future of Web3 — Paving the Way to End-to-End Fully-Decentralized Web”
In the talk, he explained the limitations of current solutions such as the limited storage semantics that mostly work for static files and lack of data composability. Another major limitation he mentioned was that all decentralized storage solutions have their own ecosystems with their own tokens, addresses, and token economies, which is very inconvenient for existing Web3 users that are already familiar with ETH.
Qi then explained some necessary features in the future Web3 to solve the current problems and introduced EthStorage as a solution to future Web3.
The future Web3 needs to offer rich storage semantics with CRUD on large dynamic data sets programmable by smart contracts. Further, the future Web3 infra should be ETH-compatible like Metamask so that it is easy to use for existing users. Also, the solution needs a decentralized access protocol to access all those dynamic contents in a fully-decentralized way.
EthStorage is an Ethereum layer 2 data-retention network to store a large amount of data programmable by smart contracts. In addition, EthStorage defines the web3:// access protocol in ERC-4804 to render those smart contract contents in a fully-decentralized way.
The Crypto Economics Security Conference (CESC) was a part of SF Blockchain Week where blockchain startups, enterprise companies, academics, developers, and investors from around the world came together to define the future of blockchain and cryptocurrencies.
The conference has received over 170 paper submissions this year, making it the conference with the highest paper submissions in blockchain/Web3 in history to date. And more than 2,000 people registered to participate.
CESC is hosted by Berkeley RDI, a multi-disciplinary campus-wide center focusing on advancing the science, technology, and education of Web3, decentralization, and empowering a responsible digital economy.
The full video of his talk can be found here:
EthStorage is a layer 2 solution that provides programmable dynamic storage based on Ethereum’s data availability. EthStorage will greatly reduce the storage cost of storing a large amount of data on Ethereum, saving the cost from 1% to 0.1%. The low cost of storing large data by EthStorage can enable a fully-decentralized network with rich user content in the future. EthStorage is highly integrated with EVM and is compatible with Solidity, Remix, Hardhat, and MetaMask.
The team member has received grant support from the Ethereum Foundation this year and participated in Ethereum’s research work in the direction of DA. The first version of the EthStorage testnet has gone live and is in an intensive testing phase.