The developers of the ARDRive data storage have attracted $ 17.2 million

The ARDRive storage application for storing data from ARDRIVE, the team closed an investment round of $ 17.2 million. It was headed by Arweave Team, Blockchain Capital and Sino Global Capital, writes Bloomberg.

Ardrive -oriented corporation works on the basis of the Arweave Protocol. The latter is positioned as an eternal “collective hard drive” with a one -time payment for placing data based on one cent.

Arweave stores millions of files from around the world, including texts, articles, photos and videos. Preserving the story “with a guarantee for 200 years”, the service prevents its subsequent adjustment.

According to the creator of Arweave, Sam Williams, the technology “similar to blockchain”, but uses the Blockweave structure, which is better for storing large files. Network users earn AR tokens.

Earlier, the Arweave team attracted $ 8.3 million from Andreessen Horowitz, Coinbase Ventures and Union Square Ventures

The application has gained popularity in the summer of 2021 among Hong Kong activists. They used it to store content, which was suppressed by the local government during repressions against producing media. Enthusiasts managed to save 5600 fragments of the news of the local edition of Apple Daily.

“The powerlessness of the Chinese authorities in the destruction of the media” thanks to the blockchain in those days was appreciated by US Bank of America: Senator Pat Tumi.

Sen. Pat Toomey (@Sentoomey) Praed the Applications of Crypto Beond a Form of Currency by Mentioning @arweaveteam in a Senate Hearing on Tuesday.

"This Technology Makes It impessible for the Chinese govt. To Destroy Apple Daily’s Work, No Matter HARD IT TRIES". 💣 Pic.Twitter.COM/E0Y7RYCOHN

– Arweave.News 🐘 (@Arweavenews) July 29, 2021

In recent days, 6.6 million materials related to the latest events in Ukraine have posted on the ARWEAVE network. Content growth rate increased 15 times from 15 to 24 February.

Recall, Binance allocated $ 10 million and began to collect $ 20 million, which will go to the aid of Ukrainian refugees and children.

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