• Tue, 10 Dec 2019, 07:04 PM
  • 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) $7,287.20 (-2.42%)
  • Ethereum (ETH) $146.00 (-1.75%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $207.78 (-0.92%)
  • Litecoin (LTC) $44.56 (-1.16%)
  • Bitcoin (BTC) $7,287.20 (-2.42%)
Dec 10, 2019 (Tuesday)
12:09
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:09
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:29
Crypto Technicals: XMR/USD fails at 21-EMA, bearish bias builds, scope for downside resumption
10:32
LedgerX founders temporarily replaced after derivatives provider collided with CFTC
10:28
BNY Mellon, Credit Suisse moved funds for Telegram during $1.7B token sale: Report
08:42
Crypto Technicals: BCH/USD extends range trade below 5-DMA, resumption of weakness to see dip till 187 (Trendline)
06:40
Crypto Technicals: XRP/USD capped at 21-EMA, extends weakness for the 2nd straight session
06:38
Brazil to impose fines on individuals failing to declare cryptocurrency transactions
06:06
Huobi US to cease operations on Dec. 15
05:19
Bakkt launches options and cash-settled futures products
05:13
Crypto Technicals: ETH/USD capped at 20-DMA, 'Bearish Engulfing' to plummet prices
04:53
South Korea to impose capital gains tax on crypto transactions; Bill slated for introduction in 2020
04:21
Crypto Technicals: BTC/USD rejected at 21-EMA, invalidates scope for upside
03:17
Italian copyright pioneer collaborates with blockchain firm to protect intellectual property
03:14
China to launch first phase of digital currency pilot program by end of 2019: Report
Dec 9, 2019 (Monday)
16:11
Blockchain-based social media platform Voice to release public beta in February 2020
14:49
Crypto exchange OKEx to launch options trading this month
13:19
Cryptocurrencies could replace fiat currencies by 2030, says Deutsche Bank
12:52
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
12:52
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft