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Blockchain Startup Arweave Rakes In $5 Mln During a16z-led Funding Round

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  • Alex Dovbnya
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    The blockchain startup that wants to store your data forever receives fresh funding from big-name cryptocurrency investors

Blockchain Startup Arweave Rakes In $5 Mln During a16z-led Funding Round
Cover image via www.123rf.com

Blockchain-powered data storage startup Arweave has raised $5 mln during a funding round, which was led by Andreessen Horowitz (a16z), its press release states.  

Instead of relying on centralized entities in the likes of Google and Facebook, Arweave hands the power back to ordinary internet users by creating a network of miners who are able to earn the company's native token for sharing their spare storage. 

"Arweave is generally available today and is suitable for use by journalists and publications, scholars and researchers, plus archivists and activists around the world,” Arweave said in its recent statement.

Arweave's main selling point compared to other decentralized storage solutions (FileCoin, Sia, etc.) is the ability to store data in perpetuity, creating the so-called "permaweb." While it looks like another meaningless buzzword, the idea behind this project is quite powerful -- it aims to create the internet where your voice lives forever. 

In order to access permaweb and forget about 404 errors, one simply has to download the company's browser extension for Chrome, Firefox, or Brave. However, here's a catch -- Arweave users are only allowed to store one file for free.  

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After getting a fresh cash injection from a16z and Texas-based Multicoin Capital, Arweave now wants to beef up its developer relations team and fund marketing campaigns that are slated for the rest of 2019.  

Arweave founder Sam Williams told Coindesk about his very ambitious plans. In the future, the company hopes to compete with Amazon and national archives.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Massacre: $180 Mln Worth of BTC Longs Liquidated on BitMEX

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  • Alex Dovbnya
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    A massive amount of long positions gets liquidated on the BitMEX exchange after the Bitcoin price tanked all the way down to $7,350

Bitcoin Massacre: $180 Mln Worth of BTC Longs Liquidated on BitMEX
Cover image via u.today

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

$179.3 mln worth of longs has been liquidated on BitMEX, the leading derivatives exchange, after the Bitcoin price shockingly dropped to $7,350 (compared to spot exchanges where BTC didn't go below $7,500). Considering that the average leverage is 25x, Bitcoin bulls collectively netted a loss of around $6.4 mln.         

One of the top traders on BitMEX, who felt "long and strong" at the $8,000 level, most probably regrets his recent tweet.     

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This string of bloody-red candles opens a possibility for a further drop to below $7,000, which has been the pipe dream of Bitcoin bears ever since the BTC price blasted past this level back in May.   

At the time of writing, the top coin by market capitalization is sitting at $7,581 with no sings of buying pressure, CoinStats data shows.  

Trader "The Wolf of Wall Street" says that the retail interest in Bitcoin has been slowing down in November (based on the number of addresses with balances less than 0.1 BTC). Hence, it is unlikely that the average Joe will start FOMOing in anytime soon.      

Dutch analyst "Plan B" didn't cave in to bearish sentiment. He says that the positive difficulty adjustment prevented the much-feared miner capitulation, and the BTC price could increase from that point. 

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As reported by U.Today, the Bitcoin price could still nose-dive by 40 percent based on the BitMEX funding rate

Subscribe to U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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