The competition between computer networks is heating up, with decentralized players entering the scene with the backing of the cryptocurrency ecosystem.
Decentralized computing and storage network Aleph.im has completed a $10 million funding round led by Stratos Technologies. Zeeprime, NOIA Capital, Theia, Bitfwd Capital have contributed funding, among others. The cross-blockchain network aims to provide fully decentralized computing power and censorship-resistant data storage, according to the announcement.
Aleph.im scheduled its first compute resource node launch for January, following the funding round. The nodes will become the main processing source of the decentralized network.
Aleph.im rewards its main channel nodes with the network’s native token, ALEPH. The new funding would allow Aleph.im to increase its minimum wage payment capabilities from the current 70 main channel nodes to 150 node operators. This expansion aims to create a network of distributed virtual machines to enable full-stack decentralization for key blockchain and decentralized application (DApp) developers.
After commissioning the network’s compute nodes, Aleph.im also plans to activate storage nodes in 2022, according to Aleph.im founder Jonathan Schemoul. Decentralized storage would allow developers of Web 3.0, DApps, and protocols to “completely decentralize every last piece of their development stack,” he added.
Stratos Technologies’ Rennick Palley noted that Web 3.0 development will continue to rely on a small number of service providers until the entire stack that supports computing and processing power is decentralized.
“Aleph.im’s efforts benefit the industry at large and for this reason we are proud to contribute to the broader effort and movement towards a truly decentralized full-stack architecture.”
Last year, Aleph.im introduced a DApp to allow users to automatically back up the data underlying their non-fungible tokens. The video game giant Ubisoft chose Aleph.im to participate in the sixth season of its Entrepreneurs Laboratory. Despite facing criticism from the gaming community, Ubisoft joined the Aleph.im network as a channel node operator.