Context is a decentralized open data Storage Protocol, open to everyone. Its goal is to create a common language for data to be understood and used in any application. It's the next frontier in data interoperability. The data needs context to be understood and usable.
Context has three main elements:
- SmartDocs: The data following a particular Schema (Standard). It can be edited by the owner.
- Schemas: The standards used to represent data.
- Universal Registry. A Registry where schemas and data docs are referenced.
The registry is the smart contract where you can give a name to one smartDoc and set the schema that smartdoc uses. SmartDocs are smart contracts holding information following a Schema. Data follows a standard structure and is also a Smart Contract where some of the fields can be modified. All data is always associated to a specific Standard.
Context organizes schemas into groups, which allows for related schemas to be managed together in a collaborative way. These groups of schemas, also known as standards, represent a set of guidelines that define the structure and format of the data they are associated with. Each group of schemas will have contributors, where they can find the standard they need, and evolve it together.
One of the groups is the Web3 group, it's a group to coordinate blockchain-related schemas. Like chains, contracts, transactions. With the web3 group, we can map chains, contracts and transaction in all the ecosystem, that's good for security and interoperability.