WeaveDB’s Ambitious Take Over Plan of the Database Market from Centralised Entities
Most of the human activities on the internet revolve around searching for data and tweaking data to get the information. This is why every developer, regardless of their specialisation and level of experience, knows that the application, protocol or website they build is as good as the database and management system that is used.
In six decades, the database and its management system has seen different innovations that have culminated in the advanced systems and options at the disposal of developers to build technologies that drive development in different sectors today. The 1960s, 70s and the millennium were key points in the trajectory of the development of database and database management systems (DBMS).
The first database can be traced to the 1960’s when Charles Bachman developed the Integrated Data Store. It was an era when computers were beginning to be used for data processing. Bachman’s integrated data organises data in a tree-like structure and it allows users to store, retrieve and manage data. The solution which was a huge relief to the nascent technology industry was preceded by data being stored in flat files which was cumbersome to use.
In the 1970s there was the relational database which was a data management system that organised data in rows and columns and allowed queries to be performed on a database using Structured Query Language (SQL). The NoSQL approach to database management started becoming popular in the 2000s with big tech companies such as Amazon and Google building NoSQL databases.
While the SQL database management system is good for structured data, NoSQL is suitable for handling high volumes of structured, semi-structured and unstructured data. What type of data is to be processed and the user’s ability, many times, determines which of the DBMS one uses.
The global DBMS industry which has ridden on the back of centralised DBMS is now a multi-billion dollar industry. Its market size was put at $63.4 billion in 2022 and estimated that by 2030 it will be $154.6 billion. Although centralised DBMS contributed to the growth of Web2, the controversies around centralised companies, including single point of failure, risk of data loss, data privacy issues and the glitches that some of their users suffer such as downtime, make some observers opine that providers of decentralised DBMS have the solution that could tilt the future of database management system to them.
Revolutionising Decentralised Database and Database Management System
The advent of blockchain technology has resulted in projects in the web3 space spinning up products that are anchored on the principles of decentralisation. From decentralised finance to decentralised social media and decentralised identity, these products have positioned themselves as alternatives to the same provided by centralised entities.
WeaveDB is one of the leading projects in the decentralised database space. WeaveDB is a NoSQL database built on the Arweave blockchain and powered by Warp Contracts that is set out to help users scale their data and traffic by minimising latency, ensuring fast and responsive database operations.
Being fully decentralised WeaveDB eliminates issues of single point of failure that is common on centralised databases.
“The problem of centralised databases is as unfortunate as the word…What we’re doing is giving complete power to the user. Guaranteeing data ownership, permanent storage and curbing censorship,” said Frank Akiba, community growth manager at WeaveDB.
A database powered by WeaveDB guarantees users fast query performance at an economical cost because it stores data on Arweave which is one of the cheapest storage blockchains. WeaveDB also allows users from different blockchains to easily and safely use its services through its cross-chain crypto authentication and cross-chain data bridges.
Backed by strong web3 investors such as Permanent Ventures, Hansa Network among others with a $900,000 funding in January 2023, WeaveDB wants to build more tools developers need and serve as an entry point into Web3 for developers still operating in the Web2 space. One of its expansion strategies is its ambassador programme and being present in countries with bustling Web3 activities.
“WeaveDB chose Nigeria due to its sizable, young and tech-savvy population actively interested in Web3 space. The country’s emerging tech scene and strategic location within Africa present an ideal opportunity for WeaveDB’s expansion efforts,” said Ahmad Mardeni, CEO of WeaveDB. Mardeni further stated that WeaveDB’s ambassador programme got responses from 30 countries suggesting that it “underscores the global interest in WeaveDB”.
Now, WeaveDB is making a move into the decentralised social media space with Jots which was revealed during Arweave Asia 2023. Jots is a fully decentralised social network built on WeaveDB rollup which ensures that it is scalable. Each transaction is a smart contract transaction on Arweave. Mardeni said this feature sets Jots apart from others that are restricted by blockchain limitations.
Akiba described WeaveDB as solution-centric and Jots is one of the ways the company give people freedom from censorship by governments and monopoly by entities.
In tech, it is not enough to have a database; Its usefulness is in how accessible it is and the innovation that can be birthed with it. For now, centralised entities may be leading the database and database management system market, WeaveDB is certain that the market can be taken over by decentralised entities like itself by arming itself with evidence of what its technology is capable of and not just promises.
“I’m very confident in what we have going with WeaveDB. With WeaveDB, we’re going to show in practicality what is possible with a decentralised database. This is coming through hands-on innovations and inventions. I believe that the best way to convince anyone is through results,” Akiba said.
