Blockchain

Aleph.im raises $10M to develop censorship-resistant data store

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The competition between computing networks is heating up, with decentralized players entering the stage with the support of the crypto ecosystem.

Decentralized storage and computing network Aleph.im has closed a $10 million funding round led by Stratos Technologies. Zeeprime, NOIA Capital, Theia, Bitfwd Capital, etc. all contributed to the financing. According to the announcement, the cross-blockchain network is designed to provide fully decentralized computing power and censorship-resistant data storage.

Aleph.im plans to launch its first compute resource node in January following the funding round. Nodes will eventually become the main processing power of a decentralized network.

Aleph.im rewards its core channel nodes with the network’s native token, ALEPH. The new funding will enable Aleph.im to increase its minimum wage payment capacity from its current 70 core channel nodes to 150 node operators. This extension aims to create a distributed virtual machine network that enables key blockchain and decentralized application (DApp) developers to achieve full-stack decentralization.

After launching the network’s computer nodes, Aleph.im also plans to activate storage nodes in 2022, according to Aleph.im founder Jonathan Schemoul. Decentralized storage will allow Web3 developers, DApps and protocols to be “completely decentralized to the last part of their development stack,” he added.

related: Solana-based DeFi protocol Hubble raises $10M, prepares to launch mainnet

Rennick Palley of Stratos Technologies noted that Web3 development will continue to rely on a handful of service providers until the full stack supporting compute and processing power is decentralized.

“Aleph.im’s efforts benefit the entire industry, so we’re proud to contribute to the larger effort and the move toward a truly decentralized full-stack architecture.”

Last year, Aleph.im launched a DApp that lets users Backup data automatically Based on their non-fungible tokens.Gaming giant Ubisoft chooses Aleph.im to participate Ubisoft Entrepreneur Lab Season 6. Despite the backlash from the gaming community, Ubisoft joins the Aleph.im network As a channel node operator.