The team behind the decentralized ArDrive storage app closed a $ 17.2 million investment round led by Arweave Team, Blockchain Capital and Sino Global Capital. Bloomberg.
The corporation-oriented ArDrive solution is based on the Arweave protocol. The latter is positioned as a perpetual “collective hard drive” with a one-time payment for data placement based on one cent per megabyte.
Arweave stores millions of files from around the world, including texts, articles, photos and videos. Preserving the history “with a guarantee of 200 years”, the service prevents its further adjustment.
According to Arweave creator Sam Williams, the technology is “blockchain-like” but uses a blockweave structure that is better suited for storing large files. Network users earn AR tokens.
Formerly the Arweave team raised $ 8.3 million by Andreessen Horowitz, Coinbase Ventures and Union Square Ventures
The application became popular in the summer of 2021 among Hong Kong activists. They used it to store content that was suppressed by the local government during the crackdown on pro-democracy media. Enthusiasts managed to save 5,600 pieces of news from the local edition of Apple Daily.
“The powerlessness of the Chinese authorities to destroy the media” thanks to the blockchain in those days was praised by US Senator Pat Toomey.
Sen. Pat Toomey (COM)@SenToomey) praised the applications of crypto beyond a form of currency by mentioning @ArweaveTeam in a senate hearing on Tuesday.
“This technology makes it impossible for the Chinese govt. to destroy Apple Daily’s work, no matter how hard it tries ”. 💣 pic.twitter.com/e0Y7rycOHn
– arweave.news 🐘 (@ArweaveNews) July 29, 2021
In recent days, the Arweave network has posted 6.6 million materials related to recent events in Ukraine. The growth rate of content increased 15 times from 15 to 24 February.
Recall, Binance allocated $ 10 million and started collecting $ 20 millionwho will go to help Ukrainian refugees and children.
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