Learning from building Agora Network

Since 2017, the founding team of Agora Network has been committed to the research and development of Internet technology products, including social media, data security storage systems, blockchain infrastructure, artificial intelligence, and Internet technology R&D architecture, etc., to create new value space. Our social application flagship product, cultural exchange, and social media are composed of five businesses. In the future, hundreds of third-party applications will be based on the Agora Network decentralized social ecological network. However, we found that during the development process, frequent interaction requirements, high handling fees and data storage costs are the huge challenges faced by the underlying infrastructure of the blockchain in the current construction of social networks and artificial intelligence.

1. In the development of Agora social applications, considering the imperfections of the infrastructure of the first stage, to take the mixed interaction and data storage mode of off-chain and on-chain, for ordinary users, the sense of friendly user experience, strong economic incentive model and rich functionality is the strongest attraction to enter the world of Web3, the future, with the main network of the Agora Network on-line, it will be gradually migrated to the Agora Network, social applications run on the network nodes relying on code. User profiles, postings, concerns...assets, tokens and NFTs and all other information are stored on the Agora Network open source network accessible to everyone and owned by decentralized identity protocols, opening up a new era of full-chain social Web3.

2. Even in Ethereum’s L2 solution, in the face of frequent interaction requirements, high gas fees are still an obstacle to consumer use. The limitation of TPS is also a bottleneck in the adoption of blockchain by large-scale social networks. We need L2 solutions optimized for low gas fees and high TPS.

3. Social applications need better blockchain economic models. Different types of applications, such as social, gaming, and decentralized finance (DeFi), have fundamental differences in their economic models. If the blockchain only focuses on transaction returns, those DeFi applications that are more economically profitable will crowd out other types of applications. We need to build a blockchain base layer, modular and domain-customized solution for social applications to meet the needs of developers building different types of applications. For example: building a value network based on user content evaluation. Whether it is text, pictures, audio, video or even live broadcast-themed content platforms (including but not limited to websites, Apps, generative artificial intelligence and other forms of expression), you can use the Agora Network to build a corresponding social platform, with one click Deployment and one-stop solution.

4. Empower social network data with a layer of value through the digitization of social assets (tokenization or NFT) so that users can equitably reap the benefits of their content creation. This is particularly important, especially with the convergence of generative AI and social media.