September 16, 2024
Crypto venture giant Multicoin has spearheaded a $10 million fundraising effort for Pipe, a proposed content delivery network (CDN) that uses tokens to incentivize individuals to host internet infrastructure. The startup behind Pipe Network, Permissionless Labs, is targeting a crucial yet often overlooked aspect of the modern internet. Many websites rely on relay servers to ensure their content doesn’t lag as it travels from hosting servers to end-users.
Project | Latest Raise | Latest Raise Date | Lead Investor | Category |
|---|---|---|---|---|
Pipe Network | $10M | September 16, 2024 | Multicoin Capital and Solana Ventures | DeVIN, Infrastructure |
Currently, major companies like Cloudflare and Akamai dominate the CDN market, ensuring fast content delivery. However, Permissionless Labs believes that crypto incentives can encourage everyday people to contribute their computing power, creating a competitive alternative.
This concept introduces the decentralized virtual infrastructure network (DeVIN), an evolution from decentralized physical infrastructure networks (DePIN). Like how Helium used tokens to encourage people to set up WiFi routers, Pipe’s DeVIN setup applies the same tokenomics principles.
The project will utilize the Solana blockchain and plans to launch a testnet at the Breakpoint conference in Singapore.
About Pipe Network
Pipe Network, developed by Permissionless Labs, is a proposed content delivery network (CDN) that aims to use cryptocurrency tokens to incentivize individuals to host internet infrastructure. This decentralized approach seeks to create a competitive alternative to traditional CDNs run by major companies like Cloudflare and Akamai. By leveraging the Solana blockchain, Pipe Network plans to encourage everyday people to contribute their computing power, ensuring faster and more efficient content delivery across the internet. The project is set to launch a testnet at the Breakpoint conference in Singapore.
Website: http://pipe.network/
About Investor
Multicoin Capital and Solana Ventures.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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