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HONG KONG, Nov. 15, 2023 /PRNewswire/ -- Paraverse Technology Limited ("Paraverse"), a leading international pioneer in digital parallel world technology, announces the release of the white paper, Paraverse: A Decentralized Operation and Trading Platform for 3D Digital Assets, developed in collaboration with industry organizations and 3D/XR and Web3.0 experts. The paper delves into the revolutionary concept of "Digital Parallel World" and presents a full-stack technical solution for 3D applications in the Web3.0 era.

Highlights of the White Paper:

Analyzes the revolutionary innovation of combining Metaverse and Web3.0 technologies, showcasing a full-stack technical solution for 3D applications in the Web3.0 era;

Explores how to reshape the production relationships in the 3D industry based on blockchain, building value co-creation and sustainable development communities, and

Introduces the world's first decentralized real-time rendering network, distributed verification storage, and encrypted operation system for large-scale 3D assets.

The "Digital Parallel World", an intelligent decentralized 3D information system, merges the virtual and real worlds to create an internet medium characterized by fairness and transparency. It integrates the media form of the "Metaverse" and the decentralized mode of operation, fully absorbing the achievements of technological revolutions such as spatial computing, cloud computing, blockchain, and artificial intelligence. It provides the public with a truly 3D, highly immersive, and interactive sensory experience, as well as an economic activity experience centered around data ownership, traceability, fairness, and transparency.

This white paper provides a comprehensive analysis of Paraverse's decentralized real-time cloud rendering technology and the Web3 trading platform for 3D digital assets. It provides insights on technical routes, product design, and community development for unlocking the interactive gateway of decentralized 3D applications.

Story continues

Web3.0 Era Full-Stack Technology Solutions for 3D Applications The White Paper introduces in detail the Web3.0 era full-stack technology solution for 3D applications. By integrating cutting-edge technologies from the metaverse and Web3.0, including real-time cloud rendering, cloud-native architecture, blockchain, and other foundational technologies, Paraverse has successfully developed ParaLab, a decentralized real-time cloud rendering platform, and ParaHere, a Web3 transaction circulation platform designed specifically for 3D applications. These platforms enable enterprises and developers to rapidly establish a robust parallel world cloud technology infrastructure and facilitate seamless digital asset transactions based on the principles of Web3.

Redefining 3D Industry Production and Building a "Co-Creation" Economic EcosystemThe 3D industry faces a number of difficulties that are impeding its overall growth, including fragmented content production, cooperation issues, and asset ownership problems. This leads to information silos, resource waste, and ineffective intellectual property rights management. Paraverse addresses these issues by leveraging blockchain technology to empower the 3D content ecosystem. Through a decentralized network, Paraverse aims to establish a "co-creation" economic ecosystem, connecting creators and consumers to transform the production dynamics of the 3D industry and drive ecosystem prosperity.

To achieve this vision, a substantial amount of 3D content and diverse application scenarios are essential. The White Paper outlines the pivotal role of Paraverse as a versatile real-time cloud rendering platform. Apart from offering the foundational technology platform, Paraverse unites enterprises and developers in various roles, including 3D asset providers, application developers, and AI capability drivers, fostering a diverse ecosystem that forms a robust foundation for the 3D content industry's growth and facilitates global collaboration and innovation.

Introducing Lark Network, the World's First Decentralized Rendering Network and Decentralized Authentication Storage and Encryption Running System for Large 3D AssetsParaverse leverages the decentralized nature of blockchain to develop its revolutionary decentralized rendering network, Lark Network, ensuring higher rendering speeds, system stability, and scalability. This network allows all nodes to become rendering nodes, enabling users to contribute to and be rewarded for their computing power. Additionally, Paraverse facilitates the uplinking of large-scale 3D assets through off-chain running and on-chain entitlement and tracking solutions, creating a more efficient and secure 3D asset transaction platform. The White Paper emphasizes the significance of merging Web 3.0 technologies with 3D content ecosystems to propel the construction of the next-generation Internet. As decentralized technologies evolve, Paraverse anticipates a more innovative and sustainable digital media and economic ecosystem. As decentralized technologies evolve, Paraverse anticipates a more innovative and sustainable digital media and economic ecosystem. Paraverse is eager to work with 3D asset providers, capability providers, and application developers to advance the 3D industry made possible by Web 3.0 technology and contribute to the future of the digital parallel world through ParaDao.

Click Here to Join ParaDao Access the White Paper: English Version and Simplified Chinese Version

About Paraverse Technology Limited Paraverse is a leading international pioneer in the realm of digital parallel world technology. They redefine the construction and operation of parallel worlds by offering enterprises and developers a globally leading decentralized real-time cloud rendering platform and a Web3 transaction platform designed for XR applications and 3D digital assets. With cutting-edge technologies such as real-time cloud rendering, cloud-native architecture, and blockchain integration, Paraverse enables users to swiftly access the metaverse, establish essential services for Web3-based digital asset transactions, lower entry barriers for end-users venturing into the metaverse, and drive a thriving ecosystem for creators. Their mature products and solutions are widely applied to various industries such as education and training, digital twin, medical rehabilitation, virtual live streaming, AI-powered digital humans, cloud events, and online gaming scenarios. Since 2016, Paraverse has attracted nearly 1,000 enterprise users and tens of thousands of independent developers from around the world. They continue to serve users with innovative technology, stable and convenient products, and rich scene ecosystems to promote the prosperity of the global digital economy.

https://www.paraverse.cc(English) https://www.pingxingyun.com (Simplified Chinese)

Media Enquiry: business@paraverse.cc

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SOURCE Paraverse Technology Limited

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Paraverse Technology Releases Groundbreaking White Paper on Decentralized Operations and Trading Platforms for 3D Digital Assets - Yahoo Finance

Enabling your existing pre-cloud enterprise applications to take full advantage of cloud computing is fraught with technical obstacles, such as unsupported versions of operating systems (OS), monolithic architectures that are tightly integrated with enterprise data stores or file storage, and difficulty in meeting stakeholder expectations (including cost reductions).

When greenfield applications adopt cloud-native architecture, they suffer much less from the burden of these challenges, but these new applications only make up a small percentage of an organisations application portfolio.

A typical legacy application rehosted on infrastructure as a service (IaaS) migrated using a lift and shift approach cannot take full advantage of every cloud characteristic. Organisations that follow this rehosting approach often discover that the migration team took shortcuts and came up with workarounds just to get the applications running.

These shortcuts and workarounds arise because the goal of rehosting was to move the application in a time-sensitive manner and support other, more significantly modified applications that are already running on the cloud. The comprehensive assessment for cloud-native readiness was never performed on the legacy application, which resulted in poor outcomes.

One of the areas to consider is that a typical legacy application relies on traditional relational database management systems (RDBMS) and atomicity, consistency, isolation and durability (ACID) transactions for strong data integrity.

These traditional databases rely on the underlying infrastructure to be rock solid and reliable. They are not built for environments where the infrastructure is fluid or prone to failure. These databases are also built to scale up, not out, which impedes your ability to utilise the abundance of cloud resources and to elastically scale your application.

However, contemporary application design takes advantage of polyglot persistence to optimise database behaviour for specific use cases. This concept allows developers to choose the data storage that best suits the data and their programming approach rather than forcing the data to fit into a traditional Structured Query Language (SQL) model. Using RDBMS for all data storage can lead to inflexibility in your design and significant costs in scaling the database.

Adopting cloud computing requires careful planning and a deep understanding of how your existing applications might impede migration to a cloud-native architecture. Gartner clients often cite poor planning and inappropriate migration strategies as reasons for sub-standard cloud adoption. Without planning and structure, decisions will be made inflight just to get the application running. This will lead to misalignment with stated project goals.

Cloud migrations typically encompass a mix of applications, some of which are due for an overhaul or an update and can benefit from what the cloud offers. These initiatives have varying business goals from one organisation to the next. The decisions, processes and people behind the initiatives are specific to each organisation. However, Gartner has identified and outlined several recurring technical goals.

It is critical that specific business goals guide an organisations cloud modernisation efforts and that stakeholders throughout the organisation are aligned with those goals. For instance, not all application modernisations will require rebuilding. You may not need to change how your database is partitioned for improved scalability for a given application if that is not one of its cloud migration goals.

Gartner proposes a framework for application modernisation, representing an architecture assessment with specific hotspots.

The effort required to modernise an application should be established by assessing how each hotspot inhibits the business objectives of the migration. The more easily changeable your application is, the less work, effort and resources you will need to adopt cloud-native architecture patterns and principles.

This step requires you to build an effort scorecard that will be populated while analysing each hot spot during the rest of the assessment.

Two major inhibitors increase the effort of modernisation of your applications coupling and complexity.

Coupling can be viewed as the number of interdependencies within and outside your application. For example, from a code perspective, you would examine how blocks of code interact with each other and the call graph including how the methods, classes and functions are composed. A script or block of code that is reliant on different code blocks is considered coupling.

Compounding the coupling issue is the complexity of your architecture and code. Application components that are tightly coupled and heavily dependent on the underlying software and hardware specifics can lead to complexity. This complexity limits your deployment, runtime and hosting options when targeting cloud-native platforms. It is important to implement abstractions and encapsulation of those underlying dependencies and components that are similar and change at the same time. In this sense, complexity means having dependencies that are hard to fulfil. Application-level dependencies for example, dependencies between components of the application can also play a part.

An assessment of your application will reveal the depth of coupling and complexity within the application. It will allow you to determine the overall effort required to modernise each of these hotspots within your application. Depending on these varying degrees of modernisation, you may choose different strategies for different portions of your code.

Modernisation level is linked directly to business goals. If the application is changeable enough to meet those goals, refactoring the code and modernising the application to a cloud-native platform can be sufficient. If the effort level to modernise is high across the board, you may have no choice but to rebuild the entire application. However, you also can rearchitect and rebuild individual components if, for instance, your modernisation level is low from an application architecture standpoint and high from a data persistence standpoint.

In a cloud environment, you are attempting to build a reliable application using an abundance of unreliable components that have the potential to fail often in ways that are different from the kind of application component failures you might see on a single machine. Cloud computing requires an architecture that will work in an environment with ephemeral resources that favour horizontal over vertical scalability.

Cloud-native architectures will balance the benefits the cloud has to offer, along with the areas that are different and outsourced to the provider, thus limiting your control over them. Your organisations motivations for moving to the cloud are additional scalability, expansion of the business to adopt new channels, and reducing the resources when demand decreases. This can lead to an unpredictable load that varies from normal day-to-day operations.

Utilising native, managed services in your cloud provider will also introduce latency into your application because your application components are now distributed across a network. Cloud-native architects also need to take into account that some cloud service failures, systematic failures and security breaches are entirely out of their control.

There must be an overall shift in mindset from the leadership level to understand when and where cloud-native principles apply in the application portfolio. Leadership must empower individuals to continuously learn and improve on these lessons in the context of your organisation. Make cloud-native modernisation an inherent part of your application maintenance cycles. Heavy investment in organisational change processes is needed because cloud innovation outpaces existing organisational processes and culture, and breaks existing processes.

This article is based on the Gartner report How to modernise your application to use cloud-native architecture by Eklove Mohan, senior director analyst at Gartner.

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Gartner: Modernising legacy applications for cloud-native success - ComputerWeekly.com

IT spending across Europe is expected to grow at a record rate in 2024, according to new research from Gartner.

The consultancys latest forecast shows IT spending will reach $1.1 trillion next year, marking a 9.3% increase on a projected total of $1 trillion this year.

Gartner said the spending increase underlines shifting priorities among businesses during a period of economic uncertainty.

"Despite a conflated economic situation, IT spending in Europe continues to be recession-proof," said John-David Lovelock, distinguished VP analyst at Gartner.

"CIOs in Europe who pursued the 'growth at all costs' strategy for over a decade are now shifting the emphasis of ongoing IT projects toward cost control, efficiencies and automation, while curtailing IT initiatives with longer ROIs."

Spending on software and IT services are both expected to see the largest increase next year amidst a continued focus on cloud computing. Infrastructure as a service (IaaS), for example, is expected to surge 27% across 2024.

CIOs in Europe are also shifting their priorities internally, including enhancing cyber security spending. Spending on security and risk management in Europe is projected to reach around $56 billion, marking an increase of 16% compared to 2023.

A concerted focus among CIOs on artificial intelligence and generative AI is also driving cloud spending, the report noted.

With AI-related security risks a key concern among enterprises, this AI focus appears to be creating a confluence of spending on both the integration of the technology along with underpinning safeguards.

"AI has also added a new level of concern around security ensuring that their systems are wrapped before hackers get near their sensitive data," says Lovelock.

The latest research from Gartner aligns with previous analysis of spending across the broader cloud computing space.

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In a separate forecast this month, the consultancy predicted that end-user spending on public cloud services will surge by 20.4% across 2024, reaching a total of $678.8 billion.

This marks an increase on 2023 and underlines that businesses are still investing heavily in cloud despite challenging economic conditions.

IaaS is forecast to experience the highest end-user spending growth in 2024 at 26.6%, followed by platform-as-a-service (PaaS) at 21.5%.

In January 2023, analysts issued a warning that the global cloud computing industry could experience a slowdown as firms looked to curtail spending due to economic concerns.

Despite this, cloud spending has continued steadily across 2023, with some analysts describing spending as recession proof.

Continued here:
Cloud to drive surge in European IT spending next year - ITPro

In an effort to elevate the guest experience with shorter concession lines, enhanced mobile ordering and a streamlined digital payment processing system, Oak View Group (OVG), the largest developer of sports and live entertainment venues in the world, today announced a partnership with Oracle to deploy Oracles MICROS Simphony Cloud and Payments Cloud Service in its owned and operated arenas with rollout to its global portfolio of arenas, stadiums and event venues over the next several months.

With the Oracle platform, OVG will now have access to real-time data across its properties that can help inform operational decisions and better understand and serve the needs of its fans.

The solution will deliver flexible configurations for food and beverage offerings and give fans an omnichannel order and pay experience. Through the new partnership, all OVG Hospitality partners will offer contactless pay options, such as debit/credit cards, Apple Pay, Google Pay, and Samsung Pay.

OVGs Global Partnerships division negotiated this landmark deal and is responsible for activating Oracles marketing assets across all OVG arenas and stadiums.

Oracle MICROS Simphony is now online at OVG venues including UBS Arena, home of the New York Islanders, in Belmont Park, NY; Acrisure Arena in Palm Springs, CA; Moody Center at the University of Texas in Austin, TX and CFG Bank Arena in Baltimore, MD as well as the newly opened Tahoe Blue Event Center in Stateline, NV; Dr. Phillips Center for the Performing Arts in Orlando, FL; the University of Central Florida Athletics in Orlando, FL (arena & stadium) and Crown Complex in Fayetteville, NC.

Oak View Groups partnership with Oracle is 100 percent about the fan experience, said Ken Gaber, president of OVG Hospitality. From grab-and-go, self-checkout, mobile ordering to just-walk-out, we are hyper-focused on ensuring our guests have shorter lines and quicker access to a wide variety of high-quality delicious food and beverage options to increase the fans time spent enjoying the event. We want our guests to have a memorable experience anytime they attend an event at an OVG venue. We are ensuring our technology mirrors the technology our guests experience in other aspects of their lives.

With validated integrations for 200-plus applicationsincluding financial, HR and analytics platformsOracles digital transaction platform is expected to inform and automate every aspect of OVGs food and beverage operations. OVG Hospitality, which will use integrated kitchen display and inventory systems to help kitchen teams control costs, limit waste, and fulfill orders from all channels efficiently, can now better use data to make real-time adjustments based on analytics, including management of inventory during an event.

From the entertainment to the food, fans are looking for a great experience in all aspects of their stadium visit, said Simon de Montfort Walker, executive vice president and general manager for Oracle Food and Beverage & Consumer Payments. As OVG has continued to grow exponentially, it has also continued to deliver on its unrelenting focus on the fan. Together, we can take that experience to the next level by enabling OVG to bring the new innovations its fans want to stadiums faster.

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Oak View Group Partners with Oracle to Supercharge Fan ... - Oracle

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