New Search Engine Tools

The New Search Engine Tools Powered by Blockchain Technology

Google’s search algorithm processes 3.5 billion queries each day. When it comes to search engines, this brand is a real behemoth. Nearly 90% of worldwide searches are carried out through this brand. Most of the brand’s revenues are derived from its symbiotic relationship with publishers and everyday web users. Even though making money off advertising […]

30 Dec, 2021 | Blockchain

The New Search Engine Tools Powered by Blockchain Technology

Google’s search algorithm processes 3.5 billion queries each day. When it comes to search engines, this brand is a real behemoth. Nearly 90% of worldwide searches are carried out through this brand.

Most of the brand’s revenues are derived from its symbiotic relationship with publishers and everyday web users. Even though making money off advertising may not be a sin, many users are worried about the privacy implications of using a Google-controlled web.

Additionally, because Google has an overwhelmingly dominant position on the web, any discourse in which they participate, knowingly or unknowingly, is always in their hands. There are several alternatives to Google currently available, as well as hundreds more in the works.

Blockchain Technology based search engines (BBSEs) are one alternative. As opposed to Google, BBSEs lack centralized control. They are instead spread across a number of networks. No company will be able to access your search histories or other data stored on a blockchain-based search engine.

Blockchains will be used to store all such data. In other words, you will have total control of your data, rather than Google or Microsoft. In addition to providing users with a private key to protect their personal information, some blockchain-based search engines go a step further.

As more people realize the benefits of a decentralized blockchain, blockchain-based search engines are becoming more popular right now.

Blockchain Technology

In the search engine sector, it is evident that fresh blood is needed. Innovation is important, but so are consumer choices as well. 

Consider Google, a centralized system that manages, stores, and produces highly-informative content. We are too dependent on the industry giant, even if they’re not directly in sight. Even though they’re not directly visible to us, they can remove billions of pages from their index without our knowledge. Even if they’re not doing it, would anyone be aware if they were? The problem with this type of centralized system is that it is a part of a larger centralized web structure. Google has long been obsessed with gaining viewers and attention. However, Google will have to contend with blockchain technology solutions in the foreseeable future.

It will provide a personalized search based on consumer data and preferences without any need to control or own any of the data.

By simply adding the advertisement today, the users of the blockchain technology-based search engine will be able to earn a token commission by viewing the advertisements. As a result, the adversarial relationship we have today is eliminated. However, it will be a long time before this system exists. In order to get users to adapt your product, it must be at least five times better than what they’re currently using.

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The Development of a Next-Generation Search System based on Blockchain Technology

Blockchain technology is developing decentralized search solutions that will give users control over their own data and allow them to personalize their experiences. Using the blockchain, users can verify themselves, which is helpful in combating the fraudulent activity that will inevitably occur as they attempt to earn more tokens.

Next-Generation Search System

We should be able to break our dependence on Google for all information through the Blockchain search system. Presearch is a decentralized, open-source search engine project that rewards its users. Contributors and promoters are betting that the community can compete with the big players using the right technologies and tools.

With Presearch, users can search across multiple providers from one place. The system is designed to reduce reliance on Google. The project appears to have worked, since 50% of testers are now daily users, generating more than 20 page views on average each day.

The project will be able to split advertising revenues with the users through Smart Contracts. The community will be able to develop the project, and they are already stating that it is taking place.

How Blockchain-Based Search Engines Work

Blockchain-Based Search Engines

Blockchain-based search engines can be understood only by understanding how they work.  Think of a ledger with real-time transactions. The ledger, however, cannot be controlled by a single individual since it is not centralized.

Peer-to-peer networks are instead used to distribute and handle it. As opposed of being recorded in one place, the records are scattered all over the system. Each participant in the network acts as a controller, ensuring all transactions are in agreement with the rest of the ledger.

The search engine now searches through the distributed ledger to display results when a user types in a keyword on a blockchain-based search engine. In addition to encrypting the search details, the distributed ledger also stores them.

Each computer participating in the peer-to-peer network searches and distributes ledger results.

As a result of its scalability, blockchain technology works. We may see a high level of growth for BBSEs in the next few years thanks to the community approach, which could make them serious competitors to conventional search engines.

BBSs have the potential to gain market share gradually from major players in search, but potential by itself is not enough. Blockchain-based search engines will succeed or fail based on how consumers find the companies appealing.

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What Are the Benefits of Blockchain Technology based Search Engines?

Your privacy is protected by BBSEs, which is the first benefit. It’s not necessary for advertisers to monitor and sell your search profiles. The results of your searches can’t be linked to you.

There is transparency in BBSEs. Each user on the decentralized network may see any search query if they want to. However, the identity of the individual initiating the search remains anonymous. In this way, privacy is not compromised.

As well as cryptocurrency-based search engines, blockchain-based search engines are neutral. There is no distortion in search results to display paid advertisements, and there are no limiting policies dictating which results are displayed. Instead of dozens of ranking factors used by Google and other traditional search engines, the content displayed will only be ranked by relevance to the query.

As a result of blockchain-based search engines, community interests are the only concern. Search engines are no longer controlled by powerful corporations.

The resources on BBSEs are shared. All members of the network have access to them.

What Are the Disadvantages of Blockchain Technology based Search Engines?

The blockchain-based search engines have no other rules in place to respond to changing conditions other than the foundation rules.

The core controls of BBSEs lack flexibility since they are usually not progressive. 

Minor changes require consensus before they can be implemented. Therefore, even the smallest upgrades are difficult for most BSEs.

Internet marketing is not supported by blockchain-based search engines. As no data is captured or stored, marketers are not able to capitalize on consumer behavior in the same way that Google and similar centralized search engines do. 

In this new meritocratic environment, content creators will have to figure out how to stay relevant in a world where keywords, domain age, backlinks, and all the other factors that affect search results won’t be taken into account.

Many blockchain-based search engines do not provide any monetary incentives for contributors, in contrast to conventional search engines that have grown substantially over the years through mutually beneficial financial arrangements. Consumer Activity Tokens are an attempt by some BBSEs, such as Presearch, to address this, but it is still in its infancy.

Globally, BBSEs might pose a risk to the privacy and security of individuals and governments. Google searches are tracked by counter-terrorism units without a doubt. The issue remains whether blockchain-based search engines will be able to protect end-user privacy without becoming the platforms of choice for global criminal networks.

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Blockchain Technology taking a Strategic Approach

Blockchain-Based Search Engines

The development of a search engine is costly and complex, but if you tokenize search and trust community involvement to overcome incumbents from the root, you can keep the organization lean.

Loaded content is a benefit of decentralized systems. As opposed to Google, Bing, and other platforms, decentralized search engines aim to provide all the available information. They all sell products. Also, they are widely used. However, we have difficulty choosing what information we want. With a decentralized search engine built using blockchain development services, you can customise your search with an increased level of control over your data.

Blockchain Technology is prevailing in the Video World

Competing with YouTube on the blockchain will be almost as challenging, as well as in search. For most creators, YouTube ads do not prove to be very effective. 

A CPM of between $0.5 and $5 translates to 500 to $5000 per million views. Comparing the CPMs of YouTube with podcasts, which earn 5 to 20 times more, this is really bad for a market like YouTube.

The YouTube market is very competitive, even though YouTube earns a small amount. A video platform built on the blockchain would currently have less competition and a higher rate of attention. A reward game will be more engaging if incentives are offered to content creators. The possibility exists that the maturity of blockchain-based video search would take several years. According to YouTube, 100 hours of video content are uploaded every minute, making it a great platform for search engine optimization.

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Clickbait

clickbait

It has become a world where attention is artificially rewarded based on pageviews. A lack of quality content has been exacerbated by flashy thumbnails, promotional content, and proactive headlines.

In theory, blockchain is capable of helping develop a solution to it. Medium does a good job of letting its readers Clap for articles they love. 

An approach similar to this could help redistribute funds to the websites and publications that are most valued by users. Tokenization incentive coupled with Adsense ads with a statement attached is the only way we can see a blockchain model succeeding. Using blockchain-based crypto wallets, this is possible.

The blockchain model of publication allows publishers to create a monopoly on the market by developing websites that become less and less usable with a growing number of ads until users opt in or join.

Is It the End of Google?

End of Google

There have been many other search engines that have attempted and failed to compete with Google before blockchain-based search engines. DuckDuckGo is an example of a non-blockchain option that sells the privacy angle, but still only manages to snag less than 25 million monthly users.

The entry of BBSEs into the market will eventually challenge Google’s dominance. When will that happen? Only time will tell. The issue of economic incentives needs to be addressed first for blockchain-based search engines. Google, Bing, and Yahoo all grew because publishers and users were rewarded with money.

It is also impossible to ignore the software option. One of the reasons Google is unchallenged today is its AI expertise and its data. Having high-quality data allows them to better understand their users, thus providing a better experience. Each category of users wants specific results, and Google understands how to meet those needs as they arise.

By managing BBSE properly, BBSE can eventually displace Google by having access to consumers’ data and preferences, without necessarily storing or owning them to deliver personalized search results.

In addition, BBSEs should consider the option of paying users to view ads, which may help them in their quest to challenge Google. This will ensure high-quality results for publishers and make viewers feel more comfortable with ads. Users who are paid for the ads they see will no longer be able to use ad-blockers.

There is still a lot of way to go before the BBSEs in use today can change the behavior of users. Google has become an integral part of many people’s online lives, and this has not upset them in any way. It is rare for a user to switch unless the new solution provides a significant improvement over the present.

Conclusion

Despite its near-complete monopoly, Google needs to lose its near-complete hold on the search market. It is certainly possible to do so via blockchain search engines. The BBSE is still in its infancy, even the most popular options.

To reach this stage, Google invested a lot of time, money, and knowledge. Today, it controls 90% of the search market. Google will not feel the pinch for at least a decade if the best BBSEs start living up to their potential today.

How Can TechnoBrains Help You with Blockchain Technology?

By deploying public and private blockchain driven enterprise software solutions and services, enterprises will be able to bridge user requirements and deliverables. We at TechnoBrains have a highly experienced team that are proficient at developing premier blockchain-based products.  You will receive the best guidance from a team with a lot of experience. Take advantage of this ever-growing technology by contacting our IT outsourcing services desk today.


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