Blockchain networks that are host files are not new. Flecoin, Arweave and a handful of others promise a Google Cloud type product, where users can store and recover information gigabytes. Now, however, a project called The Walrus Protocol believes that it can build a higher version of these decentralized storage networks – and some eminent investors are betting.
On Thursday, Walrus Foundation, one of the main entities behind the protocol, announced that it had raised $ 140 million on sale from the blockchain cryptocurrency, whose Ticker is $ wal. The biggest investor was the standard crypto. The other main investors who bought cryptocurrency allowances still in Lachdre include the crypto arm of Andreessen Horowitz, the electrical capital and the digital active ingredients of Franklin Templeton. The sale valued the total cryptocurrency of the Walrus protocol at $ 2 billion.
“ONCHAIN’s previous storage attempts have fought against scalability, flexibility and security,” said Adam Goldberg, CEO and Co -founder of Standard Crypto, in a press release.
Mysten Labs, who built the AU blockchain, developed the Morse protocol. The sale of 140 million dollars only met during the last three weeks, Evan Cheng, co -founder and CEO, said Fortune. “There is just a lot of demand,” he said.
It was the first fundraising of MySten Labs for Morse. Mysten Labs, founded by former employees of the Meta crypto scuttled project, collected $ 300 million in 2022 to develop Suit, which uses a tailor -made programming language developed by Ethereum Blockchain, essentially a network of decentralized cloud blocks, is slower than Cloud treatment services centralized from companies like Google or Solana Blockchains that promise an increase in cloud processing services.
MySten Labs took the same focus on speed towards walrus. Like other decentralized storage networks, the protocol promises users that no central entity, like Google, can delete their files. But Cheng says it is faster and cheaper than what is currently on the market. “Either they are fundamentally very, very slow,” said Cheng, the CEO, referring to existing decentralized storage protocols like LEFLECOIN or ARWEAVE. “Or they are very, very expensive.”
In addition, programmers can more easily write code to interface with Morse, he said. “They are only good for the storage of archives,” added Cheng, in reference to the old storage protocols for decentralized files. “They are not programmable.”
Walrus is still in a beta version, but Mysten Labs has already built a web hosting service above the protocol. The project and its cryptocurrency will be broadcast on March 27, said Cheng.
This story was initially presented on Fortune.com
