Huawei Cloud Demonstrates Web3 Innovations in Dubai

(MENAFN- BCW Global) Dubai, UAE, April 26, 2024 - Huawei Cloud actively participated in several key Web3 events in Dubai as part of TOKEN2049 week, showcasing its cutting-edge cloud solutions and collaborating with industry partners to drive Web3 innovation across various domains, from infrastructure to the metaverse. During the events, Huawei Cloud engaged in meaningful discussions with industry leaders on ZK rollups, node hosting, and security.
TOKEN2049 is a global conference series where decision-makers in the crypto ecosystem connect to exchange ideas, network, and shape the industry. The Dubai chapter of the series was held between April 15-21, 2024, featuring a wide range of co-located events, meetups, workshops, networking events and hackathons.
On April 16, Huawei Cloud joined the Web3 Summit, a co-located event that brought together experts, scholars, and entrepreneurs from around the world in the Web3 field to explore the latest advancements in Web3 technology, including blockchain, decentralized finance, smart contracts, and more.
Dr. Li Huaxi, Director of Web3 Product at Huawei Cloud, described crypto-native technology as the core of the next-generation Internet, highlighting the importance of blockchain and its role in the future of the Internet. "When users submit transaction requests on the blockchain, they pay the node operator a fee for occupying a block space. To encourage operators to maintain stable network operation, they also receive corresponding block rewards from the blockchain protocol," he explained.
At the Token 2049 Gate.io Exclusive Night VC & Web3 Ecosystem Party on April 19, Cui Lei, General Manager of Huawei Cloud Web3, shared Huawei Cloud's Web3 technology innovations and industry practices. "Huawei Cloud continuously builds innovative Web3 solutions, such as the NES solution, ranked No. 1 on Holesky, and the ZK hardware acceleration solution for cost-effective ZK-proof generation. Huawei Cloud is committed to the Middle East market and works closely with Web3 customers and partners to achieve business success," he stated.
During the Web 3.0 Open - Meta Era Reunion on April 20, Dr. Xue Tengfei, Web3 Technical Planning Expert at Huawei Cloud, discussed the crucial role of zero-knowledge proofs in maintaining the development of the decentralized world computer, which forms the infrastructure of Web3. He noted that Moore's Law, a key factor in computer systems, will have a decisive impact on the industry's future development if effectively utilized within the Web 3.0 infrastructure. "Huawei Cloud will provide cloud instances and serverless services to accelerate the generation of ZKP," he added.
Over the past decade, Huawei has invested more than $150 billion in research and development, demonstrating its commitment to advancing technologies and providing innovative solutions to customers. With a region in Saudi Arabia, Huawei Cloud collaborates with local carriers to deliver top-notch service and experience. As a close partner to Web3 customers in the Middle East, Huawei Cloud continues to drive the growth and development of the Web3 ecosystem in the region and beyond through collaboration with industry partners and participation in key events.

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