Home Blockchain Blockchain-Based mostly Storage App ArDrive Raises $17.2 Million – Decrypt

Blockchain-Based mostly Storage App ArDrive Raises $17.2 Million – Decrypt

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ArDrive, a blockchain-based everlasting storage software, has raised a tidy $17.2 million in a seed spherical of 13 buyers led by Arweave Workforce, Blockchain Capital, and Sino International Capital.

ArDrive at present homes over 6 million recordsdata from throughout the globe, together with textual content, articles, images and movies.

Whereas many customers belief providers like Dropbox or Google Drive to steward their knowledge—providers doubtlessly prone to knowledge leaks—ArDrive permits customers to keep up possession and management of their knowledge on the Arweave blockchain.

ArDrive popped up on individuals’s radars final summer season, after Hong Kong activists used the service to retailer content material that was being suppressed by the Chinese language particular administrative area’s authorities in a sweeping crackdown on pro-democracy media.

One among Hong Kong’s hottest pro-democracy papers, Apple Day by day, was pressured to close down below new “nationwide safety” legal guidelines, however an nameless group referred to as dAppleDaily, led by crypto-savvy 21-year-old developer Ho, managed to save lots of round 5,600 pieces of news from oblivion by importing them to ArDrive.

Pennsylvania Senator Pat Toomey cited dAppleDaily’s feat for example of how blockchain expertise “makes it unattainable for the Chinese language govt. to destroy Apple Day by day’s work, regardless of how laborious it tries.”

ArDrive can be at present getting used to archive recordsdata associated to Russia’s invasion of Ukraine

https://decrypt.co/93953/blockchain-based-storage-app-ardrive-raises-17-2-million

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