People in the Web 3.0 Vortex

"What happened? Why did the video card fall back to its original price?" At once, someone asked questions in the circle of "computer installation enthusiasts", and friends replied that "ETH can't mine" to wake up online game players.

Ethereum is the most centralized software platform for global blockchain applications. At present, hundreds of Ethereum applications have been born, which is regarded as one of the underlying infrastructure of Web3.0. On September 15, the Ethereum network underwent a historic change - from the workload proof algorithm (PoW) relying on centralized mining operation to the equity proof algorithm (PoS) relying on pledge ETH as the verification node, and network consolidation was completed.

The merger of Ethereum directly led to the elimination of the video card mining machine mining ETH assets from the chain, which coincided with China's policy of prohibiting mining encrypted assets, and eliminated a group of miners again. This is also one of the reasons why the price of a large number of mainstream video cards has been cut back recently.

Online game players are only non mainstream groups affected by the merger of Ethereum. The mainstream groups concerned about this matter are still concentrated in the encryption field, including ETH miners, investors, developers of Ethereum chain applications, and even investment institutions concerned with Web3.0. In the encryption world, the merger of Ethereum has become a major event in the industry. People want to see how this blockchain network, which has even changed the consensus mechanism, will bring about changes to the encryption industry and the development of Web3.0, which is still in the super early stage.

For an invisible and intangible blockchain network, data is becoming a window for all parties to observe the merger of Ethereum. The light of opportunity projected from the data window is not only attached to the chain of Ethereum, but also related to investment.The regulatory opportunities and business opportunities generated around blockchain data are hidden in the development process of blockchain, and even relate to the data security before and after the advent of Web3.0 and the people who use it.

Observe Ethereum merger by data

Daniel will look at the pledge data of ETH every day. "It can help me judge the market confidence in Ethereum." Daniel is one of many investors in ETH. One of his two computers is dedicated to watching the K Line. The browser of the other computer is full of various index pages of encrypted assets. The indicators of ETH have become his focus recently.

The data mentioned by Daniel is the change of pledge ETH on the Ethereum beacon chain. It is the data feedback of the network verifier after Ethereum turned to PoS mechanism. The data analysis platform on the blockchain chain under Ouke Cloud Chain, the blockchain browser OKLink, shows that on September 1, the number of new pledges reached 94997 ETH on ETH2.0, which tops the fourth peak of ETH pledge this year. Before September 15, the pledge activity has increased compared with the previous three months.

Pledge data of Ethereum beacon chain this year

Data platforms such as OKLink blockchain browser of Oko Cloud Chain are important information sources for Daniels to obtain Ethereum data. In addition to the consolidated data, Li Ao, another participant of Ethereum, is also looking at the computational data of other PoW mechanism blockchain networks. He is an Ethereum miner. After the network does not support mining, the direction of his mining machine has become a big problem.

At the beginning of last year, Leo spent a lot of money to update the video card mining machine he configured overseas. Unexpectedly, the merger would really come. In March this year, he pledged a small part of the ETH he dug to the Ethereum beacon chain. "I still want to see what Ethereum can bring to the participants without mining," but what about his mining machine? "New graphics cards are falling sharply. Mine cards can't sell at a high price. If they don't sell, they can only find networks with the same origin as Ethereum PoW algorithm to continue digging."

Leo noticed that,The latest computing power index of Ethereum Classic (ETC), an Ethereum homologous network using PoW algorithm, has changed.

On September 17, data from OKLink blockchain browser of Ouke Cloud Chain showed that the overall network computing power of ETC in one week reached 144.81TH/s, the 24-hour overall network computing power increased by 194.27%, and the difficulty of mining increased by 184.70%. It is believed that the miners of the Ethereum are moving towards the Ethereal Classics. "But the price of ETC is less than $40, which cannot support the cost of miners." Leo waited until the last moment when he could dig ETH. After the merger of Ethereum was completed, he said that he would observe for a while before deciding the direction of the mining machine.

Not only small miners like Li Ao, but also Hive Blockchain, a listed encryption mining enterprise, is evaluating the impact of Ethereum merger on itself. The company has considered mining other PoW network tokens.

In last month's financial report, Hive Blockchain disclosed that it would sell mining ETH and expand its plan to dig BTC. As of August 31, the company's ETH position had decreased from 25000 ETH to 5100 ETH. This company owns approximately  38000 Nvidia  Video card, including  The A4000, A5000, A6000 and A40 models have found new positions for these graphics cards to continue their work, "for cloud computing and artificial intelligence applications, as well as for rendering of engineering applications, and for scientific modeling of fluid dynamics."

Another group of people who do not belong to the encryption circle are watching the merger of Ethereum at the "small broken station" in Bilibili. When reading the news of video card price reduction, various Up owners who focus on computer hardware will mention the Ethereum merger event, which is about to eliminate the video card mining machine. The network computing data map has also become an important explanatory material. They predict that after the merger, tens of millions of video cards will flow to the second-hand market, and computer hardware players are reveling,"Wait for the owner of the mine to perform a flying man in the air (a metaphor for losing money)."

Data service providers ambush on the eve of Web3

Hardware players are probably the group with the greatest impact on the non encryption circle due to Ethereum merger. However, no matter who is watching Ethereum merge, data is an important means. This invisible and intangible blockchain network always conveys its changes and development through the constantly generated on chain data.

All the secrets of Ethereum are packed into every block of it. Every transaction data occurring on the chain, smart contract data built on the chain and the interactive information of these contracts form a block, which is publicly stored on the chain and can be checked by anyone, but can not be tampered with by anyone.

Ethereum nodes, like small servers, process network data every minute. They are "migrant workers" of Ethereum, supporting the operation of the network through collaborative work. At present, there are 8851 "migrant workers" in Ethereum, which are distributed in more than 70 countries and regions around the world, including the United States, Germany, Russia, Ireland, Canada and Hong Kong.

Among these migrant workers, one is called "all nodes". Each of the all nodes stores complete and latest data of the Ethereum network. In May 2020, the size of Ethereum's entire node exceeded 360 GB and kept growing at a rate of 30 GB per month. Now it has grown to over 915 GB, while the size of the "archive node" that stores the height of each block has reached 11.5 TB.

The total node size of Ethereum reaches 915GB

This data volume is only half of the total data generated by industrial enterprises every year, but the 11.5 TB contains all the current information of Ethereum, which is considered as "Web3.0 infrastructure". It is predicted that when the 2.0 version of Ethereum comes, the applications on the chain will really explode, and the data will enter the stage of information explosion.

What's the use of these data?

"Ethereum data can almost become a window to look at the bottom layer of Web 3.0 in the future." Mugi defines it this way. He is the product manager of the blockchain big data service provider Ouke Cloud Chain and has participated in the research and development of the company's Ethereum browser project. The development time of about 2 weeks also gave this Web 2.0 practitioner who had jumped from Tencent a preliminary experience of the openness of Web 3.0.

Massive data can be directly obtained from open source databases. Transaction addresses and smart contract interaction information contain various interesting information

Mugi said frankly that Web 2.0 companies can certainly analyze data in this way, but the data source is not open, and the analysis is only for internal use. "Open source and sharing data is one of the most attractive places in Web 3.0."

The work of Ouke Cloud Chain is to transmit these processed data to the outside world in a readable and visual way. The service objects cover government departments, enterprise customers and ordinary users. Its most well-known product in the industry is "Tianyan Pro on the Chain", which is being used by domestic public security, procuratorial and legal departments to track illegal acts committed by using cryptographic assets, such as the frequent crackdowns on telecommunications fraud involving digital currency in recent years.

There are nearly 100 blockchain data service providers such as Ouke Cloud Chain in the world. Some of them, like Chainalysis, mainly fight crimes for law enforcement agencies such as the Federal Bureau of Investigation and the Drug Enforcement Administration of the United States, some of them, like Glassnode, provide transaction indicators for traders of encrypted assets, and some of them, like Arcane Research, provide data reports for financial institutions and research institutions.

Ethereum is just a blockchain data source mined by data analysis service providers. Based on the market value of public chain assets, almost half of the top 100 crypto assets belong to public chain assets. The public chain networks that generate these ranking assets include Cardano, Solana, Polkadot, etc. They are also called global mainstream public chains, and compete with Ethereum for the market of the underlying infrastructure of Web3.0.

Data service providers, like microscopes, record their development with data analysis in the competition of the public chain, ambushing the eve of the explosion of Web 3.0 big data.

Web 3.0 Let the "Eye of the Internet" See Where to Look

We can't predict the final form of Web 3.0, but its builders are trying to change the current Internet in the image of a reformer, although this power has not been paid attention to by their opponents.

In the eyes of the public, Ethereum has always been equated with ETH. Those who know it have put it in the "hype" queue together with Bitcoin. Most people do not know that hundreds of applications have been deployed on the Ethereum network, and people do not even know how to access them. This is still the case for the world's largest public chain, let alone its competitive chain.

In the world of Web 2.0, the things that the traffic does not pay attention to are worthless, and big data is capturing the places that the traffic is interested in every moment, discovering and even creating business opportunities in this way. Such a model has become a weapon for business companies to expand in the mobile Internet era.

As early as 2013, Victor Erye Schenberg predicted in his book The Age of Big Data that the information storm brought by big data is "a great change in life, work and thinking".

In that year, Alibaba group moved its headquarters to No. 969, Wenyi West Road, Yuhang District, Hangzhou city. Through a series of restructuring, it completed the migration from PC Internet to mobile Internet. Alipay was separated from Taobao and became an important third-party payment tool. The big data and cloud computing that Alibaba started in 2009 laid the foundation for the financial business of e-commerce.

In the same year, Tencent WeChat launched the payment function. The QR code was regarded by Zhang Xiaolong as the "entrance to the mobile Internet". What was widely questioned at that time has become an indispensable tool for the public. Scanning has become a daily interaction between users and servers.

What really opens people's perception of big data should be today's headlines. Every time users click on news and information, it will have an impact on the next time they open the app. Unconsciously, people find that "there is always something different in my headlines today". With algorithm recommendation, today's headline almost wiped out the portal websites that have dominated the Internet for more than 10 years.

Big data is regarded as the "eyes of the Internet". With the mature infrastructure of Web 2.0 as the guarantee, it is not difficult to analyze big data of Web 3.0, even because of the opening of data sources. Jiang Zhaosheng, a researcher of the Ouke Cloud Chain Research Institute, explained that they are just using the analysis of big data on the chain to label blockchain addresses, complete behavioral portraits, and then supply to the demand side. "This is the basic operation of Internet big data processing."

Blockchain data analysis can label addresses

The eyes of the Internet did bring about changes, but the people who were watched began to feel uncomfortable. When people preparing for the wedding are always pushed by Weibo to advertise the wedding venue, and when strangers at the other end of the phone accurately report people's names and ID card numbers, people find that Internet big data is easily obtaining user information, users become the target of precise marketing by businesses, and information leakage can also make people fall into the trap of Telecom fraud. However, when you want to see the real consumer evaluation on Taobao and Pinduoduo, suspicion is always accompanied by the consumer experience.

Web 2.0 is losing the trust of traffic, but Web 3.0 still needs these eyes. The difference is that the "eyes of Web 3.0" will not see through everything of users. "We can analyze the behavior of the address, but we cannot determine the ownership of the address. This is determined by the original anonymity of the blockchain, except that it interacts with the platform with real name requirements."

The Ethereum people, who are not known to the public, are trying to change the drawbacks of Web 2.0 - starting from Web 3.0, to let users' data return to themselves, including ownership and use rights. The software program can no longer obtain the user's information and data free of charge. Consent and authorization are no longer an overlord clause. If the user does not want to use the program, he can revoke the authorization at any time.

What challenges will data processing face after the emergence of Web3.0, which advocates user rights and protects user privacy?

Recently, after the US Ministry of Finance banned Tornado Cash, the encryption asset privacy tool, the encryption community appeared to protest, which made Jiang Zhaosheng see the test facing future blockchain data service providers, "The anonymity of the blockchain determines that it is anti censorship, which requires that data service providers can effectively and accurately identify the data on the chain, separate the perpetrators who use it from ordinary users, benefit users, and crack down on user violations."

Since 2020, China has been advocating the development of blockchain, but it needs to be separated from cryptocurrency. Since then, the alliance chain has become the focus of research and development of domestic Internet enterprises. In Jiang Zhaosheng's view, even if China does not advocate the development of the public chain, it can not ignore the data research as the Web 3.0 infrastructure, namely the public chain. "Because risks will not be away from a country because of its prohibition, we need to respond in advance when our country advocates the digital economy and builds data security."

Mugi described a future: for blockchain based Web3.0, data must be transparent, open and real, and users can check and verify at any time, while data processors are on the same running line, because the efficiency problem of data source acquisition has been solved, and the real moat is who can quickly provide data and analysis, and who can deeply understand the ecology on the chain, And output the speed and understanding to the demander in the form of products.

If talent is the most expensive in the 21st century, data will no longer be cheap in the era of Web 3.0. Its value is not only insight into Web 3.0, but also related to the security of the next generation of Internet. Chainalysis has been making "weapons" for the United States to fight against cryptocurrency crimes, and the domestic Oukeyun Chain is also helping the law enforcement agencies to protect the property security of Chinese people. Big data has brought about the prosperity of Web 2.0 and the risk of improper use of data. A lesson from the past may provide a strategic perspective for the data era of Web 3.0.

(Daniel, Leo and Mugi are pseudonyms in the text)