Exclusive: Walrus Foundation collects $ 140 million from standard Crypto and A16Z for high -speed network network
Blockchain networks that host files are not new. Filecoin, Arweave and a few others promise a Google Cloud product, where users can store and retrieve gigabit information. Now, however, a project called Walrus Protocol believes he can build a superior version of these decentralized storage networks – and some prominent investors are betting right.
On Thursday, Walrus Foundation, one of the main entities behind the protocol, announced that he had raised $ 140 million in the sale of Blockchain Kipto currency, whose tag is $ Wal. The biggest investor was the standard Crypto. Other top investors who bought the Istral of the Crypto Currency are still triggered include Krypto hands Andressen Horowitz, Electric Capital and Franklin Templeton Digital Assets. The sale was evaluated by the total supply of the CRIPTO currency Walrus protocol of two billion dollars.
“Before trying to storage onchain, they fought with scalability, flexibility and security,” said Adam Goldberg, CEO and co -founder of standard Crypto, in a statement.
Mysten Labs, which built Blockchain sui, developed the Walrus Protocol. Sales of $ 140 million have gathered only in the last three weeks, said Evan Cheng, co -founder and executive director Wealth. “There is only a lot of demand,” he said.
This was the first collection of Mysten Labs for Walrus. Mysten Labs, founded by former Meta -a scruTTed Crypto Diem employees, raised $ 300 million in 2022 to develop Sui, who uses the programming language developed by Ethereum Blockchain, basically a decentralized computing network in clouds are slower than a centralized Google or Blockchains company.
Mysten Labs focused on a speed on Walrus. Like other decentralized storage networks, the protocol promises users that no central entity, like Google, cannot delete its files. But Cheng says it’s faster and cheaper than what’s currently on the market. “Or are they basically very, very slow,” said Cheng, the executive director, compared to existing decentralized storage protocols such as Filecoin or Arweave. “Or are they very, very expensive.”
Moreover, developers can make it easier to write a code to confront Walrus, he said. “They are good only for archival storage,” Cheng added, compared to the older decentralized file storage protocols. “Not programmed.”
Walrus is still in a beta version, but Mysten Labs has already built a hosting service at the top of the protocol. The project and his crypto currency will go live on March 27, Cheng said.
This story is originally shown on Fortune.com
