In the era before Web2 revolutionized business models, companies struggled to gather instant insights on user engagement with their products and services. The advent of Web2 paved the way for an expansive stream of data encompassing a vast array of information.
Unfortunately, Web2 is intrinsically centralized, putting unlimited data sets under the control of third-party service providers and large tech corporations, enabling monetization and monitoring without the end-users' consent.
Web3 emerges as the decentralized evolution of the internet, offering individuals unparalleled control over their data. Utilizing blockchain’s unique features like immutability, distributed ledgers, and decentralization, Web3’s dApps and protocols have started unlocking vast opportunities for organizations and users alike.
Yet, transitioning from Web2 to Web3 is complex and won’t happen overnight. Despite developers crafting innovative Web3 solutions that outperform their Web2 counterparts, the limited availability of on-chain data presents a hurdle in optimizing these solutions for mass adoption.
As the demands for on-chain integration of off-chain data grow, effective solutions like 'Hybrid Compute' are coming to the forefront, bridging the blockchain realm with reality.
Developed by Boba Network Serving as a decentralized conduit, Hybrid Compute connects on-chain projects to off-chain data in real-time, functioning as a crucial link between Solidity smart contracts of Boba Network and all existing Web2 systems.
Effortlessly Bridging Web3 with Off-Chain Data Repositories
The immense reservoirs of data within the Web2 infrastructure remain, as of now, untouchable for Web3 developers.
This inaccessibility is due to the lack of a fail-safe mechanism for real-time access to vast off-chain data, as current smart contract designs do not support external data sources. Built on specific blockchains, these smart contracts operate in seclusion, given that blockchains were inherently structured to function independently till now.
And there's good reason for that. The autonomy of blockchains enhances their essential features like robust consensus for transaction authenticity, shielding against double-spending scams, and preventing network breakdowns.
Present-day solutions like oracles offer a secure framework that allows blockchains to work with external systems. Simply put, oracles extend the scope of smart contracts, providing a universal doorway to off-chain data while keeping intact blockchain security.
The downside, however, is that most oracle solutions are highly centralized, which means that the decentralized feature of Web3 dApps is somewhat compromised when using them.
The situation is changing, thanks to Boba’s Hybrid Compute protocols and sophisticated Solidity smart contracts that manage complex calculations like machine learning algorithms, access external enterprise data within one transaction, or stay synced with a gaming engine's latest state through an external Web2 API.
Beyond connectivity benefits, Hybrid Compute is quite straightforward to implement. All that's required are a Solidity smart contract capable of executing Turing-complete calls and a server capable of responding in EVM-compatible formats. This setup allows Web3 developers to embrace machine learning, interact with real-world data, and stay in sync with external servers.
Consequently, developers in the Web3 space can craft a broader spectrum of dApps that execute Web2-based code, utilizing algorithms and functions that would be exorbitantly costly or challenging to manage on-chain. Post complex computation, outcomes are relayed back to the smart contract, enabling the construction of complex and polished dApps without adding unnecessary network load or incurring high gas costs.
Hybrid Compute opens up an extensive array of opportunities for smart contracts. Notably, Web3 developers can design extensive DeFi systems centered around off-chain assets like real estate. It's a tool also suited for forging new NFT paradigms, such as lending programs based on off-chain machine learning driven valuations or even establishing NFT and DAO memberships tied to off-chain identities.
Moreover, through Hybrid Compute, developers can harness the strengths of both Web2 and Web3, crafting thorough on-chain reward frameworks to engage users by integrating real-time data from off-chain activities like retweets, sharing, and comments, effectively closing the gap hindering a more widespread blockchain adoption. Boba’s Hybrid Compute system Oliver Dale is the Editor-in-Chief at Blockonomi and founder of Kooc Media, an online media company based in the UK. He is a proponent of Open-Source Software, Blockchain Innovation, and an equitable, open internet.
