• Days
  • Hours
  • Mins
  • Secs
  • Wed, 18 Sep 2019, 02:55 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

$3.5M raised by Sia Network for better blockchain storage, streaming, and hosting

Blockchain.mmi9/Pixabay

Fri, 12 Jul 2019, 05:51 am UTC

Blockchain has been argued to be useful in practically any field and a recent fundraising event involving Sia Network proves that it also has a place in streaming.

Raising $3.5 million, the company responsible for Sia, Nebulous closed a successful funding round with the help of Bain Capital Ventures. This will help make its offers for file storage options and online streaming more appealing.

Speaking to CoinDesk, Bain Capital’s Salil Deshpande explained why this development is important. It was also noted that the services being offered by Nebulous make sense in this particular case, particularly when it comes to decentralized apps.

“If [dapps] use centralized storage, then they are not decentralized anymore. In the future, centralized apps will also be able to use decentralized storage,” Deshpande said.

Nebulous CEO David Vorick also had his say on the matter, especially when it comes to what his company is working on now. Since its launch back in 2014, the company has raised $6.3 million in funding.

“Today we have about 450 terabytes of data that users are actively storing on the network. Our metrics suggest that’s between 500 and 1,000 people to date,” Vorick said.

The main focus for the company with the funds that it got this time around will be developing media streaming an storage services, The Block reports. The firm is also thinking of increasing the number of personnel working on the project to 24 by this year’s end.

As for the comparisons that have been going around about how using Sia is a bit like using Hulu, Vorick talks about that, as well. Materials that are too niche for platforms such as Netflix or Hulu can be stored and streamed from Sia.

“You don’t have to be a host [node] in order to put data onto the Sia network,” Vorick explained. “It will be a comparable experience to using something like Hulu.”

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,262.10 (+0.01%)
  • Ethereum (ETH) $212.55 (+7.64%)
  • XRP (XRP) $0.306400 (+17.39%)
  • Bitcoin Cash (BCH) $326.95 (+6.45%)
  • Litecoin (LTC) $75.54 (+4.04%)
  • Bitcoin (BTC) $10,262.10 (+0.01%)
Sep 17, 2019 (Tuesday)
14:34
Wells Fargo to pilot internal blockchain-based digital currency for payments
12:57
Marsh, Arch Insurance (UK) Limited launch insurance solution for digital assets ‘Blue Vault’
12:18
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:17
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:45
Crypto exchange Binance backs Chinese crypto news portal Mars Finance
10:55
Crypto Technicals: XMR/USD rejected at 200-DMA, scope for resumption of weakness
10:18
Hedera Hashgraph blockchain goes live with 26 dapps
08:38
Crypto Technicals: Ethereum pauses shy of $200 mark, set to extend bullish momentum
07:38
Harbor tokenizes iCap Equity’s $100M real estate funds using ethereum blockchain
06:48
Crypto Technicals: BCH/USD fails to extends weakness below 200-DMA, retrace above will see upside resumption
06:02
Women in Leadership: Publicis Sapient hires Merril Lynch veteran Priya Bajoria as SVP Financial Services
05:24
Crypto Technicals: IOT /USD forms successive Dojis at cloud resistance, dents scope for upside continuation
05:17
Crypto payment services BitPay to roll out Ethereum support in the coming weeks
04:37
Blockchain food provenance platform OpenSC secures $4M in seed funding
04:03
Australia's REIQ partners with Igloo to develop blockchain-based tenancy agreements
03:48
Crypto exchange OKEx Korea to remove all privacy coins, including monero, dash, zcash, over FATF's 'travel rule'
03:39
Aventus unveils new ticketing protocol Aventus Classic and $15K prize for blockchain developers
03:35
C4IR UAE, World Economic Forum introduce blockchain accelerator program at Dubai's Area 2071
Sep 16, 2019 (Monday)
11:57
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:31
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft