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iExec Launches Enhanced DataProtector: Revolutionizing Web3 Monetization & Ownership
Home > Finance > iExec Launches Enhanced DataProtector: Revolutionizing Web3 Monetization & Ownership
Global Banking & Finance Review®
Company
Lyon, France, June 4th, 2024, Chainwire
iExec, the company with the platform to build, own, and monetize in Web3, has announced the release of an upgrade to their DataProtector dev tool, dubbed the ‘Monetize Version’. This latest innovation introduces an upgrade that offers new methods for Web3 developers, DApp users, and content creators to manage and monetize their digital assets.
Since its inception in 2016, iExec has been a pioneer in offering solutions that prioritize data protection and ownership. The updated DataProtector ‘Monetize Version’ reaffirms iExec’s dedication to innovation, delivering powerful tools that give developers the means to return control over digital assets to their users. The enhanced tool enables decentralized application (DApp) users to maximize the monetization potential of their data, content, and other digital assets.
Simplifying the Development of DApps with Enhanced User Ownership and Monetization Control
Building on the original iExec DataProtector developer tool, this new version introduces the DataProtectorSharing module. This expands the toolkit with new SDKs offering a range of monetization strategies that simplify the sharing, distribution, and earning from digital assets. Transactions are secured by Confidential Computing hardware encryption and orchestrated via iExec’s specialized DataProtectorSharing smart contract. Monetization is streamlined through the use of RLC, iExec’s native cryptocurrency, ensuring secure and transparent transactions on the network.
The DataProtector ‘Monetize Version’ Puts DApp Users in Control of Their Data
This upgrade introduces advanced monetization options designed to enhance the value of digital assets while maintaining control and security. Users have the flexibility to engage in secure sharing of their digital assets with authorized parties without compromising ownership. Moreover, assets can be rented out for specified durations, allowing data or content owners to earn while maintaining ownership rights. Secure selling options enable users to transfer ownership of data or digital assets to interested buyers, who then assume full control over their use at the blockchain level. Subscription bundle aims for a potential income by granting access to curated data collections for a predetermined fee. These versatile monetization options aims for Web3 users to extract maximum value from their data, or any other digital assets, while ensuring continued control and security.
“The DataProtector developer tool aligns perfectly with our mission to empower Web3 users to optimally monetize what they own. Developers can create truly unique Web3 apps that prioritize user ownership, privacy, and monetization. It revolutionizes the Web3 experience, and sets a new standard in the decentralized economy.” – Gilles Fedak, iExec CEO
What distinguishes this upgrade is its streamlined approach to sharing protected data and earning RLC. Distribution channels are set up in advance, allowing users to initiate smart contracts independently, removing the need to manage each transaction personally. This process leverages a combination of blockchain and Confidential Computing, utilizing Intel SGX Trusted Execution Environments (TEE) to ensure data remains end-to-end encrypted and secure, even during processing.
Impact on the Web3 community
The new ‘Monetize Version’ of DataProtector dev tools significantly enriches the Web3 community by boosting greater interaction and collaboration. This innovation supports a more dynamic and interactive ecosystem, where users can confidently manage, share, and monetize their digital assets. By promoting a culture of collaboration and innovation, this tool contributes to the collective growth and dynamism of the Web3 landscape.
About iExec
iExec is for Web3 builders who believe that users should have full control over the ownership of their data. By creating cutting-edge decentralized developer tools, iExec empowers developers to build Web3 applications that prioritize data ownership, privacy, and monetization.
With transparent access to TEE infrastructure (such as Intel SGX) and advanced Confidential Computing, iExec ensures that data remains secure during processing, even from the operators of the nodes themselves. This secure framework provides users with full control over their data, dictating who can access it and for what purpose. iExec also facilitates data ownership through NFTs, enabling users to monetize their digital assets via selling, renting, or offering subscriptions. With direct monetization built into the protocol, developers earn RLC every time their app is used. Compatible with popular programming languages, iExec offers the flexibility and robust security essential to pioneer the future of Web3. For developers valuing privacy, ownership, and monetization, iExec presents a compelling platform.
Developers and creators can visit the iExec Developer Portal for detailed documentation and tutorials on the DataProtectorSharing module.
Developers and creators can also follow iExec on X to stay up to date on developments and developer funding opportunities.
Communication Manager
Tina Fahimi
iExec
press@iex.ec
Web3 refers to the next generation of the internet, emphasizing decentralized applications and services built on blockchain technology, allowing users to have more control over their data and digital assets.
A digital asset is any item of value that exists in a digital form, including cryptocurrencies, digital art, and other online content that can be owned, traded, or monetized.
Monetization of digital assets involves generating revenue from these assets, which can be achieved through methods like selling, renting, or bundling them into subscription services.
Blockchain technology is a decentralized digital ledger that records transactions across many computers, ensuring that the recorded transactions cannot be altered retroactively, enhancing security and transparency.
Cryptocurrency is a type of digital or virtual currency that uses cryptography for security, making it difficult to counterfeit or double-spend, and operates on a technology called blockchain.
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