Decentralized storage and computing network Aleph.im has raised new funds to face Amazon Lambda as a decentralized alternative.
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The competition between computing networks is heating up, with decentralized players entering this phase with support from the crypto ecosystem.
Decentralized storage and computing network Aleph.im has completed a $10 million funding round led by Stratos Technologies. Zeeprime, NOIA Funds, Theia, Bitfwd Capital contributed to the fund, among others. The cross-blockchain network aims to provide completely decentralized computing power and censorship-resistant data storage, according to the announcement.
Aleph.im scheduled the first computing resource node deployment in January following the funding round. The nodes will eventually become the main source of processing power of the decentralized network.
Aleph.im rewards its core channel nodes with the network’s native token, ALEPH. The new funding will allow Aleph.im to increase its minimum wage payout from its current 70 core channel nodes to 150 node operators. This expansion aims to create a distributed virtual machine network to create full decentralization for major blockchain and decentralized application (DApp) developers.
After kicking off the network’s computing nodes, Aleph.im also plans to enable storage nodes in 2022, according to Jonathan Schemoul, founder of Aleph.im. Decentralized hosting will allow developers of Website3, DApp, and protocols to be “fully decentralized all the way to the bottom of their development stack,” he added.
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Rennick Palley of Stratos Systems notes that Internet3 development will continue to rely on a small number of service providers until the entire stack that supports decentralized computing and processing power.
“Aleph.im’s efforts benefit the entire industry, and for this reason, we are proud to contribute to the larger 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 underneath their unusable tokens. Activity giant Ubisoft has selected Aleph.im to participate in the sixth season of Ubisoft’s Entrepreneur Lab. Despite the backlash from the player activity community, Ubisoft still joins the Aleph.im network as a channel node operator.