The rise of crypto has led many budding entrepreneurs to take the step from Web2.0 into Web3.0
While the recent bull market has brought about new, interesting developments, many founders and projects have yet to face the brutal conditions of the bear.
Zhuling Chen, however, can say that he has.
From building an entire proof-of-stake blockchain in 2017, to providing institutional-grade validators now, the RockX CEO has excelled in the turbulent world of crypto.
Thankfully, he has taken the time to share his thoughts on with us.
Diving Head-First Into Web3.0
Despite graduating with a Masters of Engineering from the Massachusetts Institution of Technology, Zhuling entered the corporate world in a slightly different industry.
Taking up a role as a management consultant, he worked with high level executives, learning as much about business as he could – and while the work was rewarding, he still harbored the urge to return to the tech industry.
“In 2017, a few of my ex-roommates introduced me to the world of crypto, which immediately resonated with me.“
Thanks to immense support from his wife, he quit his corporate job, beginning anew in the budding industry.
As he says, “The rest is history.“
Not Just a Builder, But a Serial Entrepreneur
2017 was a vastly different time for crypto.
With China announcing their ban on Initial Coin Offerings, Zhuling received concerned calls from his parents on the industry’s perceived instability.
“It’s something that we as Web3.0 builders have to build with.“
Although Web3.0 has come a long way since then, the industry is still in its nascent stages – a double edged sword for many working in it.
He notes that the current bear market has led to a “trust deficit and less attention to the overall industry.”
Screen out the noise and panic, however, and you will see a resilient industry, “different now than it was from three or four years ago.”
“Today, founders are more mature and experienced, having gone through a few crypto cycles and gaining far more clarity on the industry’s overall identity“
While people were quick to pronounce crypto dead in the past, today’s builders have taken bear markets as an opportunity to keep their head down and go to work – something Zhuling has first hand experience with.
HIs first foray into crypto involved co-founding the Proof-of-Stake blockchain, Aelf, back in 2017.
After just three years of technical and business development, it became clear to him that the blockchain “can do much more than serving as a store of value“.
Since then, he has gone on to found RockX, on the idea of making Web3.0 an accessible and safe space for developers and users.
RockX: The Bedrock of Both Developers & Users
Leveraging his experience with Aelf, Zhuling created RockX to provide Institutional-grade Proof-of-Stake blockchain validators.
By lowering the infrastructure barriers to Web3.0, they are helping to transform the space into one that fulfills its long-term promise of robust decentralization.
RockX also provides stable and cost-efficient Application Programming Interfaces (APIs) for developers and users to interact with Web3.0 instantly and effortlessly.
Be it hosting Dapps on accessing on-chain data, their industry-leading services help users delve seamlessly into the cryptoverse.
Currently, the team at RockX is working on refining their Web3.0 products to make Doing Your Own Research an easier task for all.
In the meantime, however, they are helping solve the pain points of those taking their first step into the space.
“We publish information based on trending topics in the industry that might value-add to those looking for more insights into the crypto space.”
You can find out more HERE.
One of the ways that RockX is helping users in these turbulent times is through their non-custodial yield products.
“More people are now starting to appreciate the peace of mind and security.“
RockX offers industry-leading yield on cryptocurrencies such as $ETH, $SOL, $DOT, and $OSMO.
Users are in charge of their own private keys, and can delegate their coins to RockX validators on their chosen blockchain.
The Bear Market: A Time For Building
Despite the current CeDeFi collapse, both Zhuling and RockX have not stopped building in the bear.
Recently, they announced a partnership with Amber Group to offer staking on the WhaleFin digital wealth platform.
They also raised a $6 million Series A round at a $30 million valuation, which they will use to “enhance our products and service offerings“.
While the founder has successfully reached thousands of people with his products, he takes the time to share some of his experience for those building in the space.
“A crypto winter is defined by token prices and trading valuations, not by developer activities. In fact, they gained their core customer base during the heart of the crypto winter! This reality keeps me going, and I’m hoping it inspires some confidence in other young entrepreneurs too. “
For those who are just starting their Web3.0 journey, he notes that founders should “make sure you are clearly building a solution to a problem.”
Despite the myriad of copy-paste protocols churned out during the bull market, the crypto downturn has inspired many new, thrilling developments.
Furthermore, he advises keeping a sizeable warchest to sustain businesses for a prolonged period of time, noting that “the people who remained from 2018 have now become market leaders“.
While we may not know when the bear will end, having enough runway to last till the bull is essential for any founder.
Catch Zhuling & RockX @ Token2049 Singapore!
If you didn’t know by now, Token 2049, Asia’s premier crypto event, is coming to Singapore!
Zhuling will be speaking at the event, as well as Web3 Connect, Token2049’s largest side event, co-hosted by Chaindebrief. RockX, and many more!
He will be speaking at Web3 Connect on the 26th of September, 4.15pm, and RockX will have a booth open from the 28th to the 29th of September at M74, in front of Stage 3.
Sign ups for Web3 connect are now open HERE.
[Editor’s Note: This article does not represent financial advice. Please do your own research before investing.]
Featured Image Credit: Chain Debrief