A new era of 5G / IoT / Edge Computing!

Hello everyone!

Let’s start quickly by introducing a case study of a startup from Taiwan.

To be honest, one of my Taiwanese friends is working with this company which has recently been featured in the local Taiwanese media “Economic Daily(經濟日報)” (More like a local Wall Street Journal in Taiwan).

I was asked if I could introduce the project also in English, so I decided to talk about it here to let the world know about this great tech-startup from my homeland — Taiwan.

Many people might not know much about blockchain and/or token economy, but I believe that these new technologies and business models may become part of lives in the near future.

Original article on Economic Daily: https://money.udn.com/money/story/10860/4232655

Blockchain-based storage platform:

Poseidon Network

According to the latest report from the international research institute Gartner, “Hype Cycle for Blockchain Business” (2019), it can be predicted that blockchain technology will change business models in various fields in the next 5–10 years. “The 60% of companies will adopt blockchain in any form within three years,” states David Furlonger, deputy director of the institute.

From “WRETCH(無名小站)”

to Taiwanese startup “Poseidon Network”

and from cloud to fog — Blockchain node transformed from online cloud to fog

You may not have heard of the Poseidon Network, but any Taiwanese for sure have heard of the name “WRETCH（無名小站）”. It is known to be one of the fastest growing sites with the development of the Internet in the early 2000’s, and during a certain period of time it was in the top ten of the world’s net traffic rankings.

The site was later acquired by Yahoo and became a hot topic in Chinese speaking tech-industry at the time. The founder, Lin Hongquan, is a well-known serial entrepreneur in Taiwan (Munyu Kogetsu 2003–2007, Yahoo M & A, flyingV 2012–2017, Poseidon Network 2017-).

In recent years, Mr. Lin has returned to the battlefield armed with blockchain technology.His new startup Poseidon Network has just received a prize from Taipei City Mayor Kewen Tetsu as a Neo star at Meet Taipei, an event where tech companies gather.

Among various startups pitched on the event, judges recognized Poseidon Network as one of the outstanding project with potential and the innovativity , Poseidon Network achieved the sixth position in that competition. Poseidon Network is considered to be a project with high potential and expectations in the Taiwanese startup community.

(Picture1 → Poseidon Network has received high awards from Meet Taipei, Mayor of Taipei City as a Neo star, and has received high expectation and attention. Provided by Poseidon Network)

Reducing the time to go to and from the cloud with “Edge Computing”

Increasing Internet speed and decreasing bandwidth costs

According to experts, the number of IoT devices around the world will exceed 20 billion by 2025, and it is also expected that 5G technology will enable an advanced automatic driving. In the near future, the number of devices connected to the Internet will explode, and the amount of data generated from devices will increase as well. Also, it is thought that the existing centralized cloud will not be able to process data in the IoT era.

Therefore, by using “Edge Computing”, it is possible to reduce the round-trip time in the cloud by using a technology that does not require the internet itself and reducing the waiting time and bandwidth cost of the cloud.

According to Bill Sun, vice product manager for Poseidon Network “the core concept of Poseidon Network is using blockchain to provide edge computing solutions for IoT equipment, starting with a feasible NAS device. In the near future, when the development and application of IoT technology is more mature, Poseidon Network can be applied to a wider range of IoT equipment, aiming to become a “scalable” node network. As a result, the cost of preparing infrastructure equipment (edge ​​nodes) is dramatically reduced, and a network with resource sharing is installed. Specifically, Poseidon Network aims to become a decentralized edge node, and install Edge Software on devices NAS (network attached storage), PCs, smart TVs, routers, WiFi APs, etc. owned by general users. You will also be install and join the network. “

“QQQ Token Economy”

Revenue share with smart contract, 1000+ nodes now in operation

A significant price increase of 300% after test net launched!

Until the 4G era, no one would have imagined the rapid growth of services such as online live streaming, KOL, and streaming rhinos (Youtube, TikTok).

Within the node network, users can earn “QQQ Tokens” by providing underutilized internet resources to users through Q Launcher.

QQQ Token is a utility token in the Poseidon Network that is used for revenue settlement of nodes in the network and payment in the ecosystem.

The rewards system gives users an incentive to lend storage, bandwidth, and computing power, giving resources to corporate users in need. The QQQ token will soon be listed on the Taiwan-based ACE fiat-credit exchange (ACE Exchange), rising 300% on average, set a temporary price of up to 600%, and gaining attention from both minor and investors!

According to the official information, more than 1000+ nodes were completed within one month of the test net launch, indirectly stimulating NAS server sales, and more than 400 units were sold in two weeks. Some of the NAS server models officially recommended by the team were sold out on some EC sites, and they became a topic in each site community, increasing also the speed of node growth. Token prices and the number of token holders are also rising, attracting attention from overseas.

Application example at the present stage, “Streaming platform”

Cut the cost to half and triple the delivery speed!

According to the business world research reports, the combined market growth of the streaming industry from 2019 to 2024 is 28.2%, with growth in both device and content, and also the need for data transmission is growing.

Existing centralized CDNs are a significant cost for small and medium enterprises. Poseidon is confident in its cost and is ready to take the market.

Real application examples:

“VPN service”: I think many people are currently using streaming services such as Netflix and Disney +. If you can’t see the content you want to see due to the content distribution location or IP restrictions, you can easily solve this problem by using the designated location IP in the service provided by Poseidon Network by distributed nodes.

“CDN Service”: A major advantage of the current CDN service is that it costs half as much as a large cloud service and triples the speed. Bill Sun argues that ”in the bandwidth business, big clients (video and music streaming) are brand-powered and CDN costs are lower than expected, and our target is NOT these big players but small business platform customers. “

Top Alliance Partner

“NAS server maker; QNAP”; “Taiwan’s largest telecommunications company; Chunghwa Telecom”

Poseidon Network’s Founder and CEO, Lin Hongquan said: “Poseidon Network has signed alliance partner agreements with various international companies and has shipped 5 million units worldwide, among which the industry’s top three NAS server maker: QNAP is an official partner, and the smooth relation of co-promotions and the launch of the internal Appcenter has played a major role in the number of nodes that have grown rapidly in a short period of time, and will contribute to future growth and application.

In addition, it has been signing partnerships with various fields such as Taiwan’s largest telecommunications company and 5G, leading company providing Internet services “Chunghwa Telecom”, Internet service provider “CISCO”; partners in the blockchain domain from world-famous “Chainlink” to GCP, Oracle, SWIFT and CYBAVO, a blockchain security service and NEM, the original public chain.

Longhash is a joint venture between blockchain investor Gong Ming, founder of ChainB.com, Chen Yanfeng, CEO of Ta Lian and Emily Parker, a former Wall Street Journal and New York Times reporter. Poseidon Network was selected as one of the first incubation projects of LongHash Hatch’s eight projects, and is going from Taiwan to the world!

The QQQ token is newly listed on ACE, and the price of the token has risen by 300% along with events such as recruitment of test miners. We are expecting the project to be listed on ACE.

Official website: https://poseidon.network

Poseidon Network Community:https://t.me/QQQ_Poseidon_En