In its quest to make “Web3 accessible to everyone,” the core team behind the new Cortex app said Monday that it is introducing a new Web3 content network that will launch in June. It “will bring Web2 features, such as social posts and blogging, into a decentralized, user-owned Web3.” This is the same group that launched free “.hmn” domain names on the Polygon protocol earlier this year.
Cortex Network, according to Monday’s release, will provide users with new levels of control and privacy for themselves and their content. Additionally, the network will enable new ways to collaborate and define payment models for NFTs and content.
“In the Cortex network, each page (URL) will be a wallet address where a user can receive tokens for their content, or send tokens as well,” said Leonard Kish, co-founder of Cortex App. ZDNet. “Each page will basically be a store of data and a store of NFTs or other tokens,” he said.
How it works
The Cortex network will act as a proof-of-stake blockchain, where publishers stake so-called CRTX tokens to validate user updates and then publish them to the Polygon network. A new type of index, known as HDIndex, will create a hash that will serve as chain evidence and search for content updates. The press release claims that “when publishing to the Cortex Network, users will own their content as they control updates with their keys.”
The goal of the Cortex Network is to simplify Web3 publishing, making it easier to migrate current Web2 publishers to a user-owned Web3 content network.
The network is based on a network architecture in which batches of updates (called “commits”) contribute to a local content state which, in turn, is part of the globally verifiable localized consensus. This means that each commit contributes to a globally verifiable state for content with a complete history of content at a particular web address. “In the Cortex system, URLs and cryptographic addresses are nearly synonymous as part of a human-readable namespace for keys that act as content lookups,” according to the press release.
Kish notes that regarding new ways to collaborate and define payment models for NFTs, NFT domains (such as “kish.hmn”) and subdomains (“leo.kish.hmn”) on which the content lives are fully transferable, so an NFT can have a complete history. And once transferred, that story (the content) can also move with the NFT domain.
“We’re working on several ways to expand how NFTs work and the kinds of value they can convey, and this is one of them,” Kish said. “Others are coming too.”
Barriers to break down
Price, complexity, scalability and consistency are four barriers to progress in Web3 publishing, and the Cortex content network intends to overcome them. The network will act as a “full stack to enable not only a fast and reliable decentralized content environment for Web3, but also scalable,” according to the Cortex App blog.
Further work is needed before the network is ready for prime time. “We are currently working with partners to test elements of the network, but we don’t have an exact date,” Kish said. “We hope to be able to provide an exact launch date in the month of June.”