Aleph.im completes $10M funding round

Aleph.im, a cross-blockchain decentralized storage and computing network, has completed a $10 million Stratos Technologies-led funding round, Invezz learned from a press release. The round was supported by Theia, Ellipti, Token Ventures, Seven Capital, Zeeprime, TRGC, NOIA Capital, Bitfwd Capital, Incuba Alpha, RareStone, and more.

Eliminating need for centralization

The funding round will push Aleph.im in the direction of fulfilling its mission to provide censorship-resistant data storage and fully decentralized computing power. This will do away with the need for any centralized or controlling entity once and for all.

This month, the network will start rolling out its first computing resource nodes. Eventually, these will bear the bulk of its processing power. Aleph.im founder Jonathan Schemoul said:

This round of funding is a key piece in executing our broader vision for Aleph.im. In addition to the immediate rollout of the network’s compute nodes, this year will also bring the activation of Aleph.im storage nodes, meaning the network will be capable of both decentralized processing and decentralized storage. This will enable web 3 builders, Dapps and protocols to fully decentralize up to the last piece of their development stack.

The latest funding round will guarantee more than 150 node operators receive minimum wage payments in ALEPH. Ultimately, this effort will enable full stack decentralization for key blockchain and dApp developers.

Aleph supports Solana app indexing, Ubisoft decentralization

In 2021, Aleph facilitated Solana’s (SOL/USD) application indexing and Ubisoft’s decentralized storage system, supporting dynamic NFTs on Ubisoft Quartz.

The network collaborated with Polygon (MATIC/USD), Request Network, and Neon Labs. Through their partnership with Aleph.im, Neon Labs will make it possible for EVM compatible applications to integrate with the Solana ecosystem seamlessly.

Node expansion begins immediately

Aleph.im’s computing resource node expansion, which will start immediately, will transpire in a three stage process. The end result will involve connecting resource to existing core channel nodes. All storage and processing nodes will be online and all core channel ones will serve as network controllers by the middle of this year.

With continued expansion of the network, Aleph.im hopes the newly acquired funding will encourage more contributing operators to join.

The post Aleph.im completes $10M funding round appeared first on Invezz.