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Netverse, A Patented New Web VS Web 3.0 & Blockchain - White Paper

Netverse, A Patented New Web VS Web 3.0 & Blockchain - White Paper

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Netverse will be an all new patented, rewards-based web for everyone, dramatically improving the user experience over the current web and Web3. Through its innovation, enhanced privacy, security, functionality and interoperability it strives to be the preferred web of the future.

For inquiries you may reach Phinge at
Info@phinge.com
www.Phinge.com
775-336-7245

Netverse will be an all new patented, rewards-based web for everyone, dramatically improving the user experience over the current web and Web3. Through its innovation, enhanced privacy, security, functionality and interoperability it strives to be the preferred web of the future.

For inquiries you may reach Phinge at
Info@phinge.com
www.Phinge.com
775-336-7245

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Netverse, A Patented New Web VS Web 3.0 & Blockchain - White Paper

  1. 1. Netverse, A Patented New Web, vs Web 3, Blockchain and Crypto Phinge Corporation June 8, 2022 info@phinge.com www.Netverse.tech 775-336-7245 Netverse™ by Phinge® will be a patented, rewards-based, universal, integrated, code base. Its mission and priorities are to reduce spam, fraud and more through real-world authenticated individuals and businesses through its proprietary, patented, authorized mobile devices and hardware. It strives to be the preferred New Web of the future. Netverse Versus Web3 and Blockchain This white paper attempts to lay out the prospects, opportunities and challenges of Web3 and blockchain and their adoption, through previous industry research, articles and publications. It will also highlight the potential hurdles and limitations to this technology. © 2022 Phinge Corporation
  2. 2. This white paper will also describe what Netverse strives to be, through its innovative, revolutionary, rewards-based, universal, integrated code base and its proprietary, patented, authorized mobile devices and hardware. In addition this white paper will draw contrasts between Netverse and Web3, blockchain and crypto in regards to user privacy, security, data ownership and access as well as the total user experience including the ability of Netverse users, merchants and participants to earn and redeem rewards throughout it. Web3, Blockchain and Crypto Described Through Industry Research and Publications ● Limits to blockchain scalability[1] ● Do you need a blockchain[2] ● Merriam Webster Dictionary has defined a blockchain as a digital database containing information (such as records of financial transactions) that can be simultaneously used and shared within a large decentralized, publicly accessible network ● Web3, also known as Web 3.0,[3] is an idea for a version of the Internet that is decentralized and based on public blockchains.[4] The concept gained popularity in 2020 and 2021 with interest from cryptocurrency enthusiasts and investments from high-profile technologists and companies. ● Web 3 revolves around a decentralized internet with seamless integrations into existing applications ● The biggest change (from a user perspective) might be identity. Instead of signing in with your email or Google or Facebook etc. users can identify themselves by their wallet[5] ● Once you have identity, the next layer is payments. Micropayments, for example, might finally become a reality. Because the same wallet that one uses to identify oneself can now also be used to pay in a friction-less manner. There will be fees associated with this. ● Then you start adding other layers. Such as the metaverse. Your wallet holds the NFTs and other digital assets.[6] ● Web 3 does not require “permission,” meaning that central authorities do not dictate who uses what services, nor is there a need for “trust,” © 2022 Phinge Corporation
  3. 3. referring to the idea that an intermediary does not need to facilitate virtual transactions between two or more parties. Web 3 theoretically protects user privacy better as well, because it’s these authorities and intermediaries that are doing most of the data collection. ● Web 3 also plans to use the InterPlanetary File System (IPFS) is a protocol and peer-to-peer network for storing and sharing data in a distributed file system. IPFS uses content-addressing to uniquely identify each file in a global namespace connecting all computing devices [7] ● Ethereum is a working example of a Distributed P2P Database and IPFS is a working example of a Distributed P2P Filesystem ● The main way developers will develop on blockchain is through “dapps” ● The term dApp, in which the “d” is for decentralization, generally refers to the “App” or application living on a blockchain-based smart contract platform which can run calls to said dApps in a virtual machine while processing the next block.[8] ● Because the code of the app/smart contract lives on a public blockchain, it can be called by anyone with the ability to interact with that blockchain, either through a web-based GUI (which is generally owned and served by a centralized entity) or programmatically through something like a Python script.[9] ● Many of these dApps require you to use a centrally controlled website or mobile app, which significantly dilutes the concept of their being decentralized. This is a topic many folks have been writing about in the crypto & tech communities under the topic of the (de)merits of “Web 3.0.”[10] ● CryptoCurrency, a common use of blockchain technology is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.[11] © 2022 Phinge Corporation
  4. 4. Netverse Features and Usability Versus Web3 ● Web3 and blockchain utilize a wallet address for login purposes. Netverse will utilize a universal login and verification system through a user's top level username for a more secure and integrated authentication. ● Phreewards™ , “the rewards of Netverse” will be authenticated through Netverse. Phreewards will be created, verified and destroyed, starting from the original purchase by a user to transfers between users and entities and concluding with their redemption for products and services. Unlike blockchain however, if Phreewards are ever stolen through non user error, they can quickly be voided out and replaced to the original user through Netverse. ● Netverse platforms have some characteristics of dapps, in that they will not run on a user's device. One key difference however is that unlike dapps which need to be hosted on a localized website, Netverse platforms do not need to be downloaded locally to a user's authorized device as they are integrated into Netverse. Netverse Key Benefits Anonymity with Accountability Netverse enables anonymity by allowing users and businesses the ability to granularly share any, all or none of their data with anyone or any entity on Netverse at any time. The accountability comes in the form of all individuals, merchants, businesses and entities on Netverse being real-world verified and authenticated through its authorized hardware before being allowed on Netverse. ● Centralized Data As opposed to blockchain and Web3, Netverse cannot be shared with large decentralized, publicly accessible networks. Netverse data will be centralized and very few parts of data will be allowed to leave Netverse servers and only with the owner of that datas prior permission. © 2022 Phinge Corporation
  5. 5. ● Private, Isolated, Secured Data User data hosted on Netverse server clusters will not be accessible by the greater Netverse ecosystem directly or indirectly without being specifically allowed by each individual owner of that data. ● Verified Users and Devices As opposed to a public wallet, Netverse users are real-world verified and de-anonymized to a certain extent to other Netverse users and entities subject to each user's permissions. Users and entities are always known to Netverse and in cases of fraud or other illegal behavior or bad acts, actions can be taken. This will help ensure Netverse is a much safer environment and experience for all, while allowing users many degrees of anonymity. Netverse Distinctive Differences Centralized Data Yet Decentralized Through Netverse All data stored and used on Netverse is centralized. Because all user data is always owned by each individual user who supplies the data through Netverse, it is decentralized to Netverse and its owner Phinge, its related entities and any third parties. Netverse only has the ability to use and share user data with advanced permission of each data user-owner. User permissions for their data are granular and can be changed, modified or revoked at any time by them. Rewards, and Fiat Usage and Transfers, Netverse Versus Web3 & Blockchain Due to the nature of blockchain technology any decentralized system on blockchain has fairly substantial transaction or “gas” fees.[12] [13] By contrast, Netverse being a centralized system means there will be very small to no fees associated with each transaction Many cryptocurrencies operate on proof of work which is a technique used by cryptocurrencies to verify the accuracy of new transactions that are added to a blockchain. The decentralized networks used by cryptocurrencies and other defi applications lack any central governing authority, so they employ proof of © 2022 Phinge Corporation
  6. 6. work to ensure the integrity of new data.[14] or proof of stake, in which participants referred to as “validators” lock up set amounts of cryptocurrency or crypto tokens—their stake, as it were—in a smart contract on the blockchain. In exchange, they get a chance to validate new transactions and earn a reward. These rewards come in the form of the crypto currency you choose to validate on. [15] In contrast, Netverse rewards, also known as Phreewards. are earned passively and require no more than a simple purchase from a user to earn. They do not need to run any expensive equipment or validate any nodes, as everything runs on a centralized server paid by the cut Phinge gets on each transaction. Netverse rewards are universal and can be spent and redeemed anytime with every user, merchant, business and entity on Netverse. Web3 rewards programs are individual to a platform, user or entity and can not be used universally without transferring them and paying transfer fees. Government Regulation In Regards to Web3 and Netverse Web3 is an emerging technology which the government and regulators have not fully regulated to date. In many ways the technology and use cases are ahead of current laws and regulations. As such this uncertainty is a significant unknown and adds to its challenges as Web3 moves forward. Netverse on the other hand is being built utilizing all current laws and regulations. In fact the privacy and security that will be built into Netverse will far exceed any current users data, privacy and security technologies offered today by technology companies and their platforms as well as any privacy laws currently on the books. Netverse AR-VR and Gaming Through Netaverse™ Netverse intends to leverage its platform in the exciting world of AR, VR and gaming. As within Netverse as explained herein, all Netverse AR-VR and gaming authorized hardware through Netverse will ensure that all users who purchase and sell digital goods and in-game purchases will know that the buyers and sellers have all been real-world verified. This will reduce fraud and scams. © 2022 Phinge Corporation
  7. 7. Digital Goods (NetFt’s™) Digital Goods (NetFt’s) on Netverse as opposed to existing NFT’s will differ in three crucial areas ● Authenticated Creators and Users Only authorized users and merchants may sell Netverse digital goods, Unlike existing NFT storefronts such as Opensea, which does not do verification upon minting, before an item is verified and approved for sale. On Netverse, all users are real-world verified and a license, IP or other verification checks will be done to confirm the legitimacy and authenticity of the seller's item. Items will also be tracked as they move throughout Netverse at all times, So if a counterfeit item is found to be sold on Netverse, Phinge has the ability to quickly address the situation with the user or merchant including revoking the fraudulent purchase and issuing compensation to the affected parties. ● Locked to Netverse Unlike NFt’s Netverse Digital Goods (Netft’s) will only be verified and accessible from within the Netverse ecosystem. This has many advantages, including added security as explained above, as well as allowing a significantly seamless integration for users and developers as we will further explain below. ● Ease of Individual Platform Integration All platforms built on Netverse will have the ability to integrate digital goods in unique ways from the beginning, as opposed to existing NFT’s, where the uses must be set up and integrated on a per application basis between blockchains and applications and websites etc. This enables many unique benefits and implementation of new and exciting features for users easily and consistently, such as managing per platform access, restricting posts, integrating into video games, platforms and many more. All digital goods will use a unified system, so integrating and managing them will be much simpler for each developer to use. Likewise, buying and selling these digital goods will be unified and streamlined to the end user via various storefronts and may be connected to or in conjunction with physical goods purchases of the sellers. © 2022 Phinge Corporation
  8. 8. Conclusion This white paper has outlined future directions the web and future technologies of the internet will take. Web3 has some promise as compared to Web2 but with significant challenges as outlined herein. Netverse will be a rewards-based, universal, integrated code base which will be built on a foundation of privacy and security throughout and through its authorized mobile devices and hardware. Netverse, through its innovation, enhanced privacy, security, functionality and interoperability strives to be the preferred web of the future. You may view some of the Netverse related software and hardware patents at www.PhingePatents.com Additional patents pending © 2022 Phinge Corporation
  9. 9. Visit www.Phinge.com for more information © 2022 Phinge Corporation Note: The contents herein are a high level introduction to Netverse and Netaverse. It is not a complete description of their entirety and as such they will continue to evolve over time. Netverse™, NetFt™, Phreewards™ and Netaverse™ are trademarks of Phinge Corporation Phinge® is a registered trademark of Phinge Corporation © 2022 Phinge Corporation

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