In the rapidly evolving realm of Web3, Spheron Networks stands as a trailblazer, reshaping decentralized cloud computing through its innovative ‘Platform-as-a-Service’ solution. Having recently secured a substantial $7 million in funding, the company is at the forefront of democratizing Web3 infrastructure.
In this exclusive interview, Prashant Maurya, co-founder of Spheron Networks, provides a deep dive into the company’s journey, challenges faced, strategic vision, and its pivotal role in revolutionizing Web3 infrastructure. Join us as we explore the dynamic intersection of blockchain, gaming, and Web3, unraveling Spheron’s mission to propel the broader development and mainstream adoption of Web3 technologies.
Q1. Can you provide an overview of Spheron Networks and its ‘Platform-as-a-Service’ solution? How does it contribute to the Web3 infrastructure landscape?
Spheron is a Web3 infrastructure focused company, optimizing decentralized cloud computing through our proprietary Platform-as-a-Service solution. We have been around for nearly four years now with a mission to democratize Web3 infrastructure. By acting as a partner to startups and businesses alike, we are enabling decentralized apps (dApps) to be deployed in a streamlined, fast and reliable manner.
Q2. As a co-founder of Spheron Networks, what challenges did you face in establishing the company as a leader in Web3 infrastructure, and how did you overcome them?
Web3 is undoubtedly a sector with immense opportunities, although it faces challenges similar to those faced by any emerging sector. Thankfully, the blockchain/Web3 community is among the most closely knit globally, and they have been our biggest strength. One challenge I can think of would be around efforts to speed up mainstream adoption of Web3, especially among Web2 businesses looking to transition.
This challenge is of course an opportunity in disguise, especially now that we have built a simplified platform-based solution, it still requires us to channel significant resources towards building awareness and educating potential users. Thankfully, more and more businesses are realizing the advantages of moving on to Web3, and it helps that the ecosystem is opening up due to the involvement of diverse stakeholders, as well as the support of governments and the private sector.
Hiring for the sector is another challenge we are facing, considering that the number of experienced Web3 developers often lags behind the sector’s demand. Although these challenges seem like an impediment, they’ve helped us buckle up and focus on growing organically based on the strengths of our foundation.
Q3. Spheron Networks recently raised $7 million in funding. How does this capital injection align with the company’s goals and vision for the future in the Web3 space?
We are truly buoyed to have raised capital from some of the most prominent investment firms such as Alphawave Ventures, NexusVP, Zee Prime Capital, Protocol Labs, ConsenSys Mesh, Paradigm Shift Capital, Matrix Partners India, HashCIB, and Tykhe Ventures, as well as other core angel investors like Sandeep Nailwal of Polygon, Aniket Jindal, and Julian Traversa. The funding has been crucial to our efforts to enhance network capabilities and scale the user experience in terms of security and reliability.
This will eventually help us align with our goal to democratize Web3 infrastructure and minimize infrastructural costs to boost growth and profitability for small and large businesses. We are now in the second phase of our roadmap, aiming to onboard more developers and projects. We are also in the run-up to the launch of a first-of-its-kind enterprise-grade decentralized edge containers, which will further drive ease of access to multiple Web3 service vendors.
Q4. Spheron Networks seems to be deeply engaged in Web3 gaming. How do you see the intersection of blockchain, Web3, and gaming shaping the future of the gaming industry, and what opportunities does it present for both developers and gamers?
The idea of Web3 gaming is lucrative for a reason. Web3 promises to empower users, which is why many modern companies are solving the core issue of game dynamics and user experiences, to bridge the gap between traditional game users and Web3 users.
We personally see gaming as a key vertical, and are here to solve for the lack of a coherent plug-and-play infrastructure. This we believe, will encourage more developers and gamers to find value in transitioning from Web2 to Web3. Our platform helps ease most of the complexities around Web3 adoption by simplifying decentralized compute infrastructure and storage of data on the InterPlanetary File System (IPFS).
The introduction of container technology is another move that has redefined efficiency, scalability, and cost dynamics in game development. Containerized environments provide greater assurance of game consistency, and with the fusion of containerization and cloud gaming being seen as the next big thing, the emergence of seamless, scalable, and responsive infrastructure such as what Spheron offers becomes paramount to gaming studios globally.
Q5. The Platform-as-a-Service is designed to help companies build and deploy dApps faster. Can you share any success stories or notable projects that have leveraged your platform to achieve significant milestones?
We have a strong community of over 6000 developers building on our platform and have helped an equal number of startups to deploy and scale their dApps faster and more cost-effectively. One success story that comes to mind is our partnership with AR.IO.
By engaging with the team of AR.IO, we are redefining access to the Arweave gateway and promoting a more decentralized, inclusive, and community-centric ecosystem. This has helped boost community involvement, reward participation, and elevate the AR.IO community’s experience. The fact that they are our long-term partners shows the immense value they have earned through our platform.
Q6. In your opinion, what are the key challenges faced by developers in the Web3 space, and how is Spheron Networks addressing these challenges through its infrastructure solutions?
Although Web3 hosting is in its early stages, businesses are increasingly being drawn to its enhanced security compared to traditional Web2 infrastructure. But while Web3 itself is promising, its development comes with a fair share of challenges, requiring developers to follow a significant early learning curve.
For example, managing and storing data on IPFS can be a complex task. The good news is that there are services that simplify decentralized storage and web hosting, which allow users to easily upload and store their data on the IPFS network. Scalability is another crucial aspect of Web3 development. To address these performance challenges, various scalability solutions are being developed.
State channels and side chains are among these solutions, enabling off-chain transactions and computations. We are in fact proud that Spheron’s PaaS offering is a major part of the solution, harnessing the power of blockchain technology to provide secure and scalable solutions; simplifying the hosting and deployment of dApps while reducing the learning curve, and ensuring a seamless yet affordable multi-chain experience.
Q7. Beyond the technical aspects, how does Spheron Networks prioritize user experience and accessibility in its platform to encourage wider adoption of Web3 applications?
From the beginning, we have emphasized that faster adoption of Web3 will require the related infrastructure to become greatly simplified. Our next-generation PaaS offers low-cost and seamless access to Web3 infrastructure across multiple chains. It is explicitly designed to serve a broader audience, including startups, developers, and organizations looking to scale their infrastructure.
The launch of our compute marketplace is a perfect example of our approach to take this one step forward. The marketplace lets users provision useful tools without requiring any devops knowledge.We understand how important customer support is, which is why we provide comprehensive documentation on our website, as well as technical support during deployment and development.
Q8. As someone active in the blockchain and crypto space, what are your thoughts on the regulatory landscape for cryptocurrencies in India, and how do you foresee it impacting the growth of the industry?
Globally, we are seeing major economies warm up to the immense potential of blockchain, and its diverse use cases in various sectors. India is definitely among the most investor-friendly nations when it comes to innovation in the Web3 and crypto space. What we need to understand is that like any emerging sector, Web3 is in its infancy as far as regulatory oversight is concerned.
As a company at the forefront of its advancement, we are always available to support regulatory authorities, policymakers, and industry stakeholders, in charting laws that help the sector grow organically and with full authenticity. There are nearly 500 companies building for the Web3 sector alone in India, and this shows the expected impact it can have on the Indian economy. I do agree that there are challenges, especially around data management and Defi protocols, but overall the various industry collaborations reflect the sector’s positive momentum in India.
Q9. In your opinion, what key factors will determine the success of companies operating in the Web3 space in the next five years, and how is Spheron Networks positioning itself for success in this dynamic environment?
I believe a lot will depend on the scale of meaningful partnerships and collaborations that can bridge the gap between Web3 platforms and general consumers. Additionally, companies innovating in the Web3 space will need to address more real-world applications that can grab the attention of a larger segment of the population. We are definitely seeing users of gaming and financial services embrace the benefits of decentralized technologies, and this focus on real-world use cases is being extended to other consumer-driven sectors as well.
While much of this work happens in the front end, we are here to ensure that we build a robust compute infrastructure that can power all the nodes run by the protocol to make it more decentralized and secure over time. The investment we have raised, as well as our decentralized edge container launch, are all major milestones toward achieving success in this evolving environment.
Q10. Looking ahead, what are the long-term goals and aspirations for Spheron Networks, and how do you envision the company contributing to the broader development and mainstream adoption of Web3 technologies?
The goal as always remains to democratize Web3 infrastructure, and emerge as the global leader in this sector. We are proud to be already serving companies worldwide, unbound by geographical borders. We have every reason to believe that Web3 will govern how people interact with each other and with businesses in the future. Naturally, we want to be at the forefront of the movement pushing for its mainstream adoption.
Interview Summary
As we conclude our in-depth conversation with Prashant Maurya, the intricate tapestry of Web3 innovation comes into sharper focus. Spheron’s groundbreaking ‘Platform-as-a-Service’ solution, coupled with a recent $7 million funding infusion, positions the company as a force driving the democratization of Web3 infrastructure.
Prashant’s insights reveal a journey marked by challenges turned into opportunities. From overcoming the learning curve of Web3 adoption to addressing the shortage of skilled developers, Spheron has charted a path of organic growth, fortified by the unwavering support of the blockchain community.
Addressing the challenges faced by Web3 developers, Prashant emphasizes Spheron’s role in simplifying decentralized storage, web hosting, and scalability through their PaaS offering. The compute marketplace further exemplifies its commitment to enhancing user experience and accessibility, ensuring a seamless transition for businesses into the Web3 space.
Looking forward, Prashant envisions the success of Web3 companies hinging on meaningful partnerships, real-world applications, and bridging the gap between Web3 platforms and consumers. Spheron, with its robust compute infrastructure and recent milestones, positions itself as a key player at the forefront of this dynamic environment.
In Spheron Networks’ long-term goals, the essence of democratizing Web3 infrastructure remains steadfast. The journey of Spheron Networks unfolds as a testament to the transformative power of Web3, where challenges become stepping stones and innovations pave the way for a decentralized, inclusive, and community-driven future.
