DecentraMind for Web 3.0 or Against It? — Interview with Mikhail Danieli

This small talk happened in Dubai, UAE, where the team of DecentraMind with tech experts from ExtraChain were working on the integration of ExtraChain technology in the DecentraMind computing platform.

During our preparations, we asked Mikhail to express his thoughts about the future of Web 3.0 and the role of DecentraMind in it and to share them with the world.

So, here it is, DecentraMind’s thoughts on the nearest future of the global computing and crypto industry.

Why do we, as users, need the DecentraMind platform?

We come very close to the point of a global technological transition of computing resources and data storage capacities usage. Strong ties between the real and digital world, widespread machine learning, virtual and augmented reality tech - all that brought us to the point of Metaverse birth and the Web3.0 Era closer and closer. But the processing of enormous amounts of data produced by the Web is still centralized.

And it is a problem. Growing unseen, undetected by everyone, but dangerous for the future of the Internet.

Mikhail, maybe you can give us an example?

Yes, why not? The volume of newly created digital data grows faster than anyone can predict. By 2025, we estimate approximately 500 Exabytes of new data will be generated daily. This tendency leads to the exponential growth of demand for high-performance computing power and storage space for enormous data sets.

Most High-Performance Computing projects use their own servers or cloud services of transnational corporations such as Google, Microsoft, Alibaba, and Amazon as a computing infrastructure. According to the current technological approach, there is an obvious need to create an alternative computing infrastructure based on the principles of independence and decentralization.

So, what is the problem with Amazon and Google computing services? Why do we need an alternative?

Tech giants, using their monopoly position in the market, hinder development by limiting the access of startups to affordable computing resources. They are overcharging, censoring information, and imposing their corporate rules on the users.

The need for an independent network for processing and storing data is perhaps one of the key needs of the information technology industry.

Okay, so what is the main idea of the DecentraMind platform?

The key points of the ecosystem are:

• Absence of a single decision-making center
• Processing and storing data in a distributed infrastructure
• Powered by the blockchain
• And, in the end, self-governance by a Decentralized Autonomous Organization (DAO)

We think it is clear now, how users can benefit from DecentraMind. But what about the market?

The computation market is now in a paradoxical demand/support state - Crisis of Liquidity. On one side, demand for computing in the world is very high, while a huge number of computing devices are engaged in low-profit, environmentally harmful, and socially useless cryptocurrency mining and most personal and corporate computers are not in use most of the time.

By building a "bridge" between the owners of computing equipment and users, DecentraMind ecosystem removes technological and economical barriers between them, inside of one computing p2p network. It allows equipment owners to have an extra income and miners to earn more than by cryptocurrency mining. At the same time, users benefit by paying less than for traditional cloud solutions due to the “uberization” of the computing resource.

By using the potential power of thousands of GPUs and hard drives interconnected to the p2p network, it is possible on the current technological level to create a superpower independent computing ecosystem for distributed computing and ExtraChain data storage.

About ExtraChain. What role does ExtraChain play in the ecosystem?

I think, Yuriy Snigur, CEO of ExtraChain, will explain better.

Yuriy?

Yes, thank you for the possibility to show the role of new “blockchained” ecosystems in action.

Why ExtraChain? In fact, because of two things - distributed file storage ExDFS and blockchain, integrated into it. As we know, the amounts of data processed by computing platforms are enormous. We cannot put it all in the blockchain.

But thanks to ExDFS, we can store the data in a decentralized way and give a faster and more reliable process of data delivery for distributed processing. And blockchain, integrated into ExDFS, gives automated control and a decentralized approach to the interaction between users.

Thanks for the explanation. Let’s get back to the ideology of DecentraMind. What is it all about?

DecentraMind project sees as a mission to be at the forefront of the creation of The Global Ecosystem of Decentralized Computing - a computing infrastructure for WEB 3.0, owned and managed by Decentralized Autonomic Organisation (DAO) in order to benefit all society of users!

Thank you, Mikhail, thank you, Yuriy, it was an interesting talk. We will be eager to publish more of DecentraMind features if you want to share them with us!

Everything has its time and place, follow our media to find out more about DecentraMind and ExtraChain!

(Interview made by Etalonium Publishing Team)