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With the rapid development of the blockchain industry, various public chains have emerged and led to differences in programming languages, technical standards and communication data standards. A new report by Huobi Ventures has highlighted the role that unified middleware can play to resolve such differences in a decentralized application (Dapp) architecture system, by aggregating fragmented product forms to make it easier for developers and users to use.
Middleware is key to developing new applications by supporting modern, common runtime environments for a variety of use cases. It can also optimize existing applications by enabling developers to convert traditional monolithic applications into cloud-native applications, giving valuable tools a new lease of life, with higher performance and greater portability.
However, the rise of Dapps has created a fragmented product landscape, which has resulted in limited attention spans for both developers and users. The need to buy ETH tokens to pay for gas fees presents a barrier to entry for ordinary Dapp users, which is compounded by the number of Dapps in the market. Developers also have the headache of working with a multitude of technical standards under various public chain platforms, RPC services, and data on different chains, which translate to huge workloads.
Additionally, the decentralized nature of the Dapp application architecture translates to a break in connection with the user, without an effective messaging channel. This poses a huge challenge for Dapps in their daily marketing operations, as well as secondary marketing activities.
Huobi Ventures Senior Investment Manager Jinbin Xie, the author of the report, said: "The market contradictions we have seen in the fragmented Dapp architecture system are just the tip of the iceberg. However, the differences arising from different technologies can be addressed with a unified middleware product. The core objective is to smoothen out the huge challenges posed by the development process, for both people and applications. The line of thinking is to identify differences and flaws, and then rectify them; and aggregate everything that can achieve a network effect."
The report also cited NFX's research on network effects, which found that the adoption of network effect models such as Metcalfe's Law would add significant value to middleware. Metcalfe's Law states that the value of a system of compatible communication devices correlates to the square of the number of devices in it. The report provided an analysis of specific application scenarios with potential network effects, spanning protocol networks such as cMix, peer-to-peer file system, Cross-chain communication, Libp2p/IPLD, and Infura api, etc.
To download the full report, click here.
Huobi Ventures is a wholly-owned subsidiary of Huobi Group that focuses on global investments. Huobi Ventures' structure is divided into four business lines: Strategic Investment, Strategic M&A, Asset Management, and Global Cooperation. Thus far, Huobi Ventures has launched three funds to focus on Blockchain, HECO Ecology, and NFTs, respectively. Huobi Ventures aims to drive growth for Huobi Group and create a global ecosystem with our partners. For more information, visit: https://huobi-ventures.medium.com/ or https://twitter.com/HuobiVentures/
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https://huobi-ventures.medium.com
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