DREP Monthly Report 11.1–11.30|DREP Meets Web 3.0 with All-round Mapping; DREP Becomes an Up-and-coming Builder for Metaverse
In November, the DREP team has continued its efforts to integrate DREP into the Web 3.0 era and Metaverse.
In terms of technical products, with a long-term vision for the forthcoming Web 3.0, DREP has been making continuous efforts to optimize existing technical products, containing DREP Crossing, DREP Credit DID, DREP Credit Oracle & Credit Explorer and so forth. To facilitate the advancement of Metaverse, the blockchain network can serve as the underlying technology due to its outstanding credibility, immutability and right confirmation.
In terms of ecosystem, DREP has productively created decentralized underlying technology to ensure the security of utilizing this platform and strived to be ahead of the curve in the construction of the Metaverse. Besides, we are dedicated to building a user-centric ecosystem with digital authentication, privacy protection, data validation and decentralization, which is in agreement with Web 3.0’s pursuit.
Clarify the role of DREP in Web 3.0 and Metaverse
Among the alternations of the Internet, Web 1.0 was criticized for the lack of data storage and privacy protection while exhibiting decentralized and community-governed ethos; Web 2.0 succeeded in providing centralized and advanced services based on monopoly and sacrifice of data ownership and privacy. Web 3.0 is expected to combine the merits of the previous eras and forge an open and trustless platform to serve as the infrastructure of a distributed Internet. At the beginning of the Web 3.0 era, DREP is going to great lengths to realize the vision of Web 3.0 with fundamental technologies.
Meanwhile, faced with the mania of Ethereum-based Metaverse projects, DREP proposes effective solutions for constructing Metaverse by focusing on the underlying technology and infrastructure required. By virtue of its salient characteristics of blockchain, such as clear ownership, tamper-resistance and traceability, DREP is able to provide strong support and guarantee for transforming the aspirational Metaverse into a reality.
DREP is constantly making breakthroughs to provide technical guarantees to stay ahead of the game in Web 3.0 and Metaverse. Among the manifold forces that facilitate the development, blockchain technology is deemed to be the indispensable underpinning due to its credibility, immutability and right confirmation.
We are fully cognizant of the aim of Web 3.0 to engage users in distributed networks based on open protocols and the pursuit of Metaverse to build shared virtual worlds. To achieve these ends, DREP spares no effort to upgrade product line and optimize a sequence of products like DREP Crossing, DREP Credit DID, DREP Credit Oracle & Credit Explorer and so forth towards the tremendous needs of Web 3.0 and Metaverse. In this way, DREP is able to endow the forthcoming era with digital authentication, privacy protection, data validation and decentralization, which is in agreement with Web 3.0’s pursuit and Metaverse’s vision. In the near future, we intend to make the best of composability of DREP to improve accuracy and efficiency among NFT assets and Metaverse.
Apart from the reliable blockchain technology as the indispensable underpinning, DREP succeeds in creating Gamefi as a new track of the Metaverse to ride the wave of gamification in Metaverse. The absorbing model of “play to earn” innovates a new economic model and brings forth diversified games of high playability when combined with display technology, which greatly enriches the content construction of Metaverse.
The Metaverse and play-to-earn module are two topics that have received the most attention in all dimensions of the market, so it is foreseeable that Gamefi will assume a place in the metaverse world in the future. The Metaverse is a digital ecosystem of virtual societies, where the user economy, hardware and network infrastructure, and blockchain technology are the main components. DREP aims to help Gamefi players interact in this digital world and profit from virtual experiences.
The way DREP tackles Web 3.0 challenges
In order to realize decentralized applications and develop their great potential in benefiting the whole industry, the construction of multiple decentralized infrastructures is required. However, it is noteworthy that these infrastructures are difficult to coordinate with each other than expected. Our team has the great confidence to provide an all-around solution to realizing the ultimate goal of Web 3.0, which is to introduce a high level of trust or verifiability into the web.
With the revolution of the blockchain industry, the Crypto market has an increasing demand for public chains with more scalable architecture and higher-performance computing. In order to integrate into Web 3.0, DREP team is making great strides in the reinforcement of user identity and self-management of data to endow users with the real value of the web.
DREP ecosystem boost the growth of Metaverse
DREP will continue to improve new distributed underlying protocols and develop more decentralized applications to make Metaverse more user-oriented, helping users realize that each of them is the protagonist of web 3.0 and the controller of their personal information. When data returns to individual ownership and privacy is further protected, we are confident that users will be ready to enter Web 3.0.
The security of the DREP wallet has been enhanced, in which the wallets configured by block-generating-nodes will be closed by default and only be unlocked and begin generating blocks after the node has been initiated. Nodes’s block generation has been optimized with the node configuration process being simplified. With this improvement, the monitoring nodes no longer need to be configured with the default address to synchronize the block data. The DREP explorer continues to optimize block display and compress the page size to further improve access speed, deliver block query results to users and developers at a faster speed, and optimize the overall user experience.
The above is the DREP team’s monthly report for November 2021. DREP will keep staying true to its original spirit and stick to its path to further advance DREP’s technical and ecological development, yielding more ground-breaking results. Thanks to the members of the DREP community for their attention and support!