Primus Labs pushes internet ownership and control through Web3

The company can rebuild Web2 apps in Web3 using advanced cryptographic tools.

Hong Kong startup Primus Labs seeks to help more developers build engaging Web3 platforms and apps using tools that bridge Web2 data with the blockchain-powered internet.

Developers need Web2 data since Web3 primarily offers transaction data, limiting app development to areas such as decentralised finance, Xiang Xie, co-founder and CEO at Primus Labs, told Hong Kong Business.

“The first step is that we have to build trust, and we have to make sure that all the data from Web2 can be verified at the source in a smart contract,” he said.

Moving data from Web2 — a centralized internet where users mainly interact on platforms controlled by large companies like Google and Facebook — to Web3, however, is a complex process requiring tasks such as fetching and translating data for blockchain use.

Primus' software development kits (SDK) make the transition to Web3 — a decentralized internet where users own and control their data through blockchain technology — much easier for developers.

The platform has more than 20 partners, including FractionAI, Phala Network, Artela, Unipay, and EthSign, said Vicky Zhang, co-founder at Primus Labs. This year, the startup expects the tie-ups to rise to 80.

Primus Labs’ tool kits use a cryptographic technology called zero-knowledge transport layer security (zkTLS) protocol or “web proofs” — a way to access private data while keeping sensitive information secure.

Cryptographic proofs like zkTLS ensure that Web2 data such as product prices from Amazon are real. Smart contracts check the data validity before allowing their use in Web3 apps.

Using zkTLS, data authenticity can be verified from sources like Amazon or Google without their cooperation or the need to modify their Web2 servers, Xie said. He added that zkTLS supports data monetisation by letting traders verify activity from Web2 platforms like Binance. 

For instance, decentralised exchanges could offer perks to traders with more than ($78,000 (US$10,000) activity, with zkTLS ensuring secure proof without disclosing sensitive details. The tech can also be used to verify that an action was performed by artificial intelligence (AI) rather than a human pretending to be one.

It also supports proof of humanity by verifying that the user is a real person through identity checks, such as Know Your Customer rules.

Xie expects more partners to use their technology to fully bridge the gap between Web2 and Web3.
“We found a very cheap technology that can rebuild all Web2 applications in Web 3. We can finally bring diverse applications, not just these old applications,” he said.