• Latest
ConsenSys Spin-Out 3Box Raises $2.5 Million to Build ID Tools for Dapp Devs

ConsenSys Spin-Out 3Box Raises $2.5 Million to Build ID Tools for Dapp Devs

June 26, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Tech

ConsenSys Spin-Out 3Box Raises $2.5 Million to Build ID Tools for Dapp Devs

coinnewsdaily by coinnewsdaily
June 26, 2019
in Tech
0
ConsenSys Spin-Out 3Box Raises $2.5 Million to Build ID Tools for Dapp Devs
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

3Box, the latest startup to leave the Brooklyn-based incubator ConsenSys, just raised money to fuel a new identity tool for app developers.

3Box is developing a decentralized solution that people can use across both traditional and blockchain-based apps. The startup recently closed a $2.5 million seed round led by Placeholder Ventures, with investments from Venrock, CoinFund, Northzone and ConsenSys itself.

The “3” in 3Box is a subtle nod to the notion of Web3, a term used to describe the distributed evolution of digital platforms from social media sites to ticket sellers. Ethereum-centric startups such as MetaMask, Aragon and Foam – the latter of which garnered more than 500 contributors so far to its open source map – are already using 3Box. This pace of growth is what attracted the attention of CoinFund cofounder Jake Brukhman.

“This is a project with genuine traction,” Brukhman told CoinDesk. “There’s a huge hole in Web3 where identity should be. And I think 3Box is exactly where it should be to fill that hole.”

3Box aims to make portable logins and profiles more simple by utilizing the peer-to-peer InterPlanetary File System (IPFS) to give users keys to their own data, which is distributed across nodes instead of storing the profile on a centralized server like Facebook or Twitter.

While 3Box currently runs all the nodes, the startup plans to make that open-source software easy for any developer to spin up in order to diversify the network.

“We’re building a decentralized storage network on top of IPFS that allows all these services to tap into it, but it’s governed by the users’ consent,” 3Box co-founder Michael Sena told CoinDesk. “You can use 3Box anywhere that you have an ethereum wallet, because you basically need to be able to sign a message with your key.”

3Box makes it easier for blockchain developers to include features like private chats, uploading photos, liking posts and other common activities related to user-generated content and social interaction that are currently absent from most decentralized applications (dapps).

Indeed, Foam CEO Ryan John King told CoinDesk that some of his users leverage 3Box to have their external Twitter handle, GitHub profile and Foam-related activity all built-in to their Foam profile for a “social and reputational layer.” In the future, King said Foam plans to integrate 3Box’s thread and chat features.

“It’s enhancing user experiences in a whole new way,” King said. “With 3Box there’s an open API, it allows people to opt-in and choose whatever information they want to include while interacting with the [FOAM] protocol.”

Sena added:

“We expect to see a whole new wave of more usable, more enjoyable, more engaging, distributed applications.”

Beyond Web3

According to Sena, 3Box plans to eventually enable a username and password option so that people could also use it for profiles on traditional apps.

Unlike a regular profile, where you can deactivate it but the company keeps your data, an app that supports 3Box could give users control over their profiles.

“The idea was to create a Google Drive or Dropbox-like interface that lets people manage their 3Box data,” Sena said. “Users can go on 3Box.io Hub, their drive, and just delete all of their data. And they can be sure that it’s gone.”

In terms of the startup’s business model, 3Box will focus on offering services, such as node management and unique features, to developers and web businesses.

“The benefits of minimizing risk and reducing liability, building lighter weight apps faster, those extend far beyond Web3 developers,” Sena said.

Speaking to 3Box’s broader business model, Brukhman concluded:

“There is inherent value in decentralizing identity and user data.”

3Box team in November 2018. Danny Zuckerman, COO (bottom left); Michael Sena, CEO (bottom middle); Joel Thorstensson, CTO (top right); Zach Ferland, Senior Engineer (top left)

Credit: Source link

Tags: Crypto Tech
Share76Tweet48
Previous Post

Crypto Platform Launches Smart Trading Feature to Speed Up Process of Buying and Selling

Next Post

Top 5 Crypto Performers: BSV, TRX, ATOM, MIOTA, ETC, NEXO*

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
green gaming
Business

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
axie infinity: what are the minimum android phone requirements to play on mobile
Alt Coin

Axie Infinity: What Are the Minimum Android Phone Requirements to Play on Mobile

April 21, 2022
Load More
Next Post
Top 5 Crypto Performers: BSV, TRX, ATOM, MIOTA, ETC, NEXO*

Top 5 Crypto Performers: BSV, TRX, ATOM, MIOTA, ETC, NEXO*

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$23,754.002.48%
  • ethereumEthereum(ETH)$1,640.932.96%
  • tetherTether(USDT)$1.000.04%
  • binancecoinBNB(BNB)$315.992.74%
  • rippleXRP(XRP)$0.4158801.04%
  • cardanoCardano(ADA)$0.3937982.28%
  • dogecoinDogecoin(DOGE)$0.0898161.12%
  • matic-networkPolygon(MATIC)$1.161.02%
  • okbOKB(OKB)$39.45-0.66%
  • solanaSolana(SOL)$25.546.17%
  • polkadotPolkadot(DOT)$6.581.42%
  • shiba-inuShiba Inu(SHIB)$0.0000121.02%
  • litecoinLitecoin(LTC)$95.400.59%
  • tronTRON(TRX)$0.0635430.51%
  • daiDai(DAI)$1.000.15%
  • cosmosCosmos Hub(ATOM)$13.824.26%
  • chainlinkChainlink(LINK)$7.370.93%
  • leo-tokenLEO Token(LEO)$3.63-7.50%
  • moneroMonero(XMR)$185.901.23%
  • ethereum-classicEthereum Classic(ETC)$23.103.81%
  • bitcoin-cashBitcoin Cash(BCH)$135.72-0.06%
  • stellarStellar(XLM)$0.0941841.64%
  • crypto-com-chainCronos(CRO)$0.0822460.96%
  • filecoinFilecoin(FIL)$5.431.09%
  • algorandAlgorand(ALGO)$0.2586380.42%
  • vechainVeChain(VET)$0.024329-0.95%
  • internet-computerInternet Computer(ICP)$6.15-0.36%
  • aaveAave(AAVE)$86.651.55%
  • eosEOS(EOS)$1.111.06%
  • elrond-erd-2MultiversX(EGLD)$45.151.40%
  • theta-tokenTheta Network(THETA)$1.101.43%
  • tezosTezos(XTZ)$1.162.88%
  • paxos-standardPax Dollar(USDP)$1.000.11%
  • bitcoin-cash-svBitcoin SV(BSV)$43.870.25%
  • huobi-tokenHuobi(HT)$5.14-0.43%
  • havvenSynthetix Network(SNX)$2.480.94%
  • pancakeswap-tokenPancakeSwap(CAKE)$4.122.83%
  • iotaIOTA(MIOTA)$0.2408991.61%
  • dashDash(DASH)$57.330.88%
  • zcashZcash(ZEC)$46.820.39%
  • makerMaker(MKR)$672.181.65%
  • neoNEO(NEO)$8.370.38%
  • zilliqaZilliqa(ZIL)$0.029285-0.28%
  • basic-attention-tokenBasic Attention(BAT)$0.2688841.92%
  • compound-governance-tokenCompound(COMP)$56.641.34%
  • nemNEM(XEM)$0.0402371.21%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • kusamaKusama(KSM)$36.802.01%
  • bitcoin-goldBitcoin Gold(BTG)$17.781.30%
  • qtumQtum(QTUM)$2.773.88%
  • wavesWaves(WAVES)$2.710.94%
  • sushiSushi(SUSHI)$1.332.07%
  • yearn-financeyearn.finance(YFI)$7,757.453.43%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • golemGolem(GLM)$0.246052-1.11%
  • omisegoOMG Network(OMG)$1.501.12%
  • ontologyOntology(ONT)$0.2229463.44%
  • digibyteDigiByte(DGB)$0.0110653.00%
  • umaUMA(UMA)$2.121.30%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%