Poseidon Network Progress Update — Q1~Q3 Summary
Highlights
- Infrastructure Revision: Strengthen the stability and scalability of the underlying architecture to prepare for more service deployments in the future
- Token Economy: Promote token liquidity and related plans for QAS and QQQ
- Commercialization of Unused Resources: We are currently in the stage of negotiating sell scenarios with various domestic partners as well as constructing PoC services for business trails. Further specific details will be announced in October
- Expansion and Exposure to the Global Market: In addition to actively looking for commercial partners in Taiwan, we also try to participate in exhibitions and pitch competitions held in various countries to expand overseas connections and global business opportunities
- Strengthening Our Team: Poseidon Network will have Arun and Joshua to join and support the next phase of our goal
Part One: Technology Development
- Import SRE (Site Reliability Engineering) into our technical framework:
In response to the deployment and management requirements of massively distributed nodes, Poseidon constructs a high-availability (HA, High Availability) fault-tolerant cluster architecture to achieve more effective allocation and utilization of resources
Import SDN (Software-Defined Networking) technology
- Improve data transmission efficiency
Connect global QLauncher nodes (worker nodes) through SDN (OVS + ONOS) to form a virtual local area network, and then optimize the routing path through ML (machine learning) Ops technology to improve data transmission efficiency
- Prepare for smart home applications
This technology can also be combined with 5G CPE applications for commercial use cases in the smart home field. Poseidon is currently in discussions with a telecommunication company and Chiao Tung University’s Laboratory for research and development opportunity
Part Two: Token Economy
- QAS profit-sharing mechanism
QAS has been listed on ProEX exchange on Aug 12, 2020. In October, the beta version of QAS profit-sharing mechanism will be opened for all QAS holders to enjoy the benefits.
- QQQ deposit plan will be launched in the final phrase of 2020
As 2020 is moving towards the last quarter, Poseidon Network will hold the final QQQ deposit plan using a brand-new game system, allowing our QQQ holders to participate and have fun!
- DeFi project exploration
Poseidon is beginning to explore and build DeFi projects to promote the liquidity of QQQ and QAS in a more effective manner.
Part Three: Business Development
- Decentralized storage service
The decentralized resource network, combined with the IPFS decentralized storage technology, is suitable for files that have low-frequency access and need strong backup security. The most common use case is CCTV surveillance footage. The purpose of CCTV recording images is to ensure that it is available to access when incidents happen. Therefore, it is necessary to protect the footage from being deleted by individuals without permission. In this scenario, our distributed storage solution will ensure that files are difficult to find or delete by anyone. The current PoC has been conducted with government agencies and preliminary results have been obtained.
- Become Filecoin nodes and aggregate mining FIL service
Since Filecoin’s main technology is to provide IPFS decentralized storage services, Poseidon is planning to become the world’s top 10 node providers of Filecoin and further establish our partnership. If the development goes as planned, nodes that are eligible to join the Poseidon Network and are qualified for distributed storage services will be opened to participate in the Filecoin network simultaneously. Poseidon will then share Filecoin’s revenue by QQQ, so that node contributors in the Poseidon Network can also earn indirect Filecoin revenue.
- Decentralized VPN service
With v2ray technology and distributed nodes, VPN services can create a suitable solution for users to access information form restricted areas. With the characteristics of distributed nodes, it is difficult for authorities to block specific IPs.
- Cryptocurrency payment service
QQQ is the payment currency for services in the Poseidon Network system. To enable QQQ to expand its application and payment scenarios, Poseidon is cooperating with Taiwan’s Top 10 e-commerce platforms to extend the QQQ payment scenario to services closer to people’s everyday life.
- Gridsmart Smart’s Taiwan Exclusive Agency Listing
Poseidon Network obtained the exclusive agent of Gridsmart in Taiwan. Poseidon Network has also successfully implemented seven sets of Advance Gridsmart Performance Plus Module in 12 road junctions in the Ministry of Transportation’s Smart Transportation Test Field in Danhai New Town, New Taipei City, and Taoyuan Smart City, producing real-time traffic data.
Part Four: Marketing and Cooperation
- Formally joined the Blockchain Association Singapore (BAS)
Poseidon Network became a member of the Blockchain Association Singapore (BAS) in August 2020. Blockchain Association Singapore is an organization that has been committed to promoting the growth of blockchain technology and the ecosystem in Southeast Asia. Through this cooperation, we hope to accelerate the regional token economy network and drive the development of blockchain technology. Poseidon firmly believes in the importance of blockchain knowledge and wish to provide our users with the ideal decentralized services through the resource sharing economy we have created. We also hope to promote the development of the BAS network together. We believe that this cooperation will create an important connection and foundation for the future of the blockchain economy and promote the sharing of decentralized resources in the community.
- Entered the TechCrunch Disrupt Virtual Booth, the largest exhibition in the Silicon Valley startup circle
Sep 14–19, 2020, Poseidon set up a booth at the annual Silicon Valley start-up exhibition -TechCrunch Disrupt to showcase our products and projects. We worked with founders and venture capitalists from all over the world to discuss product innovation ideas and our project development roadmaps. Our main goal was to bring our vision out of Taiwan and seek more overseas cooperation and market expansion opportunities.
For this event, Taiwan Tech Arena assisted us in preparing promotional materials as well as exhibition videos for us to broadcast them at the venue. The videos were also broadcast live on Silicon Valley Aya’s Facebook with our company’s Strategy Planner — Joshua Dai starting his one-minute pitch ar 17:55:
Part Five: Strengthening Our Team
Poseidon Network is heading towards the stage of commercializing our technology and solutions. Therefore, we not only need to focus on our products’ stability, integrity, and scalability on a technical level, we also need stay focus on the expansions of business opportunities. In order to achieve our goals more efficiently, we have recruited two new members.
Arun lives in India and has 21 years of architecture development and management experience. He is familiar with Docker, Machine Learning, MLOps, Embedded system, and other related technologies. At Poseidon, Arun will be responsible for designing a technology framework and architecture for decentralized cloud services. He will also lead the product development team to maintain service stability and develop technological innovation of the Poseidon Network.
Joshua is a Master of Science in Analytics student at the University of Chicago and has experience in many financial-service institutions conducting business analysis and strategic planning. Joshua will be responsible for business development and industry analysis at Poseidon. He will also help evaluate various business opportunities so that the team can focus on businesses that provide the most value.
