NFT: raises $10M to develop censorship-resistant data storage

Decentralized storage and computing network raised fresh funds to face Amazon Lambda as a decentralized alternative.

The competition among the computing networks is warming up, with decentralized players coming into the stage with backing from the crypto ecosystem.

Decentralized storage and computing network completed a $10 million funding round led by Stratos Technologies. Zeeprime, NOIA Capital, Theia, Bitfwd Capital, Token Ventures and Seven Capital have contributed to the funding, among others.

The cross-blockchain network aims to provide fully decentralized computing power and censorship-resistant data storage, according to the announcement. scheduled its first computing resource node rollout for January following the funding round. The nodes would eventually become the decentralized network’s main processing power source. rewards its core channel nodes with the network's native token, ALEPH. The new funding would enable to increase its minimum wage payment capabilities from the current 70 core channel nodes to 150 node operators.

This expansion aims to create a distributed virtual machine network to make full-stack decentralization possible for key blockchain and decentralized application (DApp) developers.

After kicking off the network’s computer nodes, also plans to activate storage nodes in 2022, according to founder Jonathan Schemoul.

Decentralized storage would enable Web3 developers, DApps and protocols “to fully decentralize up to the last piece of their development stack,” he added.

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