Singapore-based Cumulus Encrypted Storage System (CESS) Raises $8M in Series A Funding for Blockchain-Powered Decentralized Data Services for Web3
Singapore-based company Cumulus Encrypted Storage System (Cess) has raised $8 million in Series A funding from a group of investors including Web3 Foundation, Polkadot Ecology Research Institute and Singchain Investment. Cess provides a blockchain-powered decentralized storage and content delivery network infrastructure for Web3, which allows users to share data and conduct value transactions while ensuring data sovereignty and user privacy. The company plans to use the funds to provide decentralized data services for Web3, including use cases such as Metaverse, NFT, DeFi, streaming media, social media, gaming and RWA. Cess incentivizes participation through transparent and fair incentive mechanisms, allowing anyone to become a candidate consensus miner and preventing large nodes from monopolizing the network.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
1inch reveals new cross-chain swap feature
Bitget announcement: Removal of VGXUSDT trading pairs from Futures Trading Bots
Bitget Futures Trading Bots will remove the following pairs on September 26, 2024, 15:00 (UTC+8) to provide a better user trading experience: VGXUSDT Notes: Users should close the relevant orders in advance if they hold strategy orders in these trading pairs. The release and purchase features of th
Bitcoin stagnation hints at potential volatility as demand decreases
Peter Schiff warns Fed’s rate cut will lead to economic collapse
Trending news
MoreCrypto prices
More
