The program known as Most Valuable Builder (MVB) selects projects in various fields such as DeFi, infrastructure, tools, NFT, and GameFi to receive investments and support from Binance Labs. In June 2022, the project Web3Go was chosen as a recipient in the MVB 5 program, and has recently announced receiving a $4 million investment from Binance Labs and other seed investment funds. This article from 247BTC aims to provide further information on the specifics of Web3Go and what sets this project apart, in a formal and informative style.
What is Web3go?
Web3Go is a data and smart network platform that enables collaborative data formatting, visualization and analysis on the blockchain, granting users the authority to publish, analyze and be rewarded for their data tasks. Web3Go’s advanced solutions have revolutionized the data and AI industries, creating digital assets based on AI and redefining the production relationship with blockchain technology.
What problem does Web3Go solve?
The challenge of accessing and comprehending blockchain data presents a formidable obstacle
The technology of blockchain has created a new era of decentralized data management, but it also brings forth several challenges that must be addressed. The accessibility and comprehension of blockchain data remain arduous for most users, requiring specialized knowledge and analytical skills.
Simultaneously, ensuring authenticity and rewarding contributors are crucial challenges. Web3Go was established to address this issue.
The verification of the authenticity of data poses a significant challenge
In the field of crypto market, enormous data is generated on a daily basis that encompasses both on-chain and off-chain data. Although on-chain data can be verified, the verification process itself is highly complicated. Off-chain data, such as social media and news websites, cannot be directly verified, and users of the data must invest significant effort in collecting and filtering relevant information. The introduction of Web3Go aims to simplify this process.
The challenge lies in providing adequate incentives for individuals who contribute data
In order to adequately measure contributions and distribute appropriate rewards to contributors, a new platform is required and Web3Go offers such a platform for this purpose.
The forthcoming generation of data products can be effectively addressed through the deployment of blockchain technology
The next generation of blockchain data infrastructure will tackle challenges related to accessibility, reliability, and data contribution. These obstacles can be addressed through a user-friendly product that combines diverse data sources, self-verification capabilities, and fair rewards for contributors. By implementing these solutions, blockchain data products can become more trustworthy, accessible, and valuable to users. Web3Go is among the viable options to achieve these objectives.
The fundamental elements of the Web3Go Data Intelligence Network
The Data Intelligence Network, designed by Web3Go, leverages the power of human intellect, data, and artificial intelligence. The network seamlessly connects three interrelated factors, culminating in a visionary platform for data analysis and decision-making.
- Human: The human element is the crux of the Data Intelligence Network, as all human activities hinge on data for decision-making, whether it is objective data on the blockchain or extrachain data. Conversely, human activities serve as a source of data, encompassing not only raw data creation but also data processing and refinement.
Data: Both objective data on the blockchain and subjective data of the chain are generated in large quantities through various human activities, making them valuable sources of data for the data intelligence network. This data includes not only raw data but also clean, processed training data (also known as a data warehouse). The high-quality training data is annotated by experienced individuals, and the more annotated data there is, the stronger the neural network becomes. In turn, a strong neural network will help humans analyze and understand data more effectively.
- AI: As the field of artificial intelligence rapidly develops, it has the potential to aid human work to a certain extent. However, it is important to recognize that at its core, AI is a neural network comprised of billions of nodes that rely on three indispensable elements: algorithms, computational power, and data. These crucial components all require the labor of humans to establish and maintain.
In summary, it can be said that human beings produce data, which in turn provides inputs for artificial intelligence, enabling effective decision-making for humans. These three core factors are mutually reinforcing, resulting in benefits for each other, and allowing the Web3Go Data Intelligence Network to consistently iterate through a process.
Components of Web3Go Data Intelligence Network
The Data Intelligence Network has revolutionized the approach to analysis and decision-making on the blockchain. The network places a strong emphasis on human interaction, data collection, and artificial intelligence resulting in a powerful ecosystem comprised of four key components.
- Streaming Data Processing Platform
- Data Collaboration Platform
- Reward System
- Real-Time Iterative Neural Networks
The powerful Data Intelligence Network of Web3Go, comprising four modules, is capable of processing massive amounts of data and improving accuracy through collaboration and training while also encouraging contributions to increase the network’s value. It has the potential to revolutionize the approach to data analysis and decision-making.
Information about Web3Go token
Currently, the official Tokenomics of the project has not been announced, and 247BTC will promptly provide updates once the information is available. Web3Go’s token design is aimed at incentivizing network participants to contribute to its growth and development by offering rewards for their contributions in a calculated manner.
The utilization of tokens as a medium for exchanging information within a network ensures that all participants are incentivized to actively engage and collaborate, resulting in a more robust and trustworthy data analysis and processing platform.
- Streaming Data Processing infrastructure: 2022 (complete)
- Non-SQL On-Chain data visualization platform: Q1/2023 (Complete)
- AI-powered neutral language for data visualization: 05/2023.
- Reward system: Alpha 4/2023, Beta 05/2023, release 06/2023.
- Data Collaboration Platform: Under development.
- Real-Time Iterative Neural Networks: In development.
- Optimize and iterate the Network: Under design.
Investors and partners
Above, CryptoViet Info has provided information to readers regarding an article titled “What is Web3go? A Data Intelligence Network Platform.” This project has been invested in by Binance Labs and is expected to continue to raise funds in the future.
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