Sia receives $400k grant from INBlockchain for development of its cloud storage platform
Big news for Sia:
Nebulous (Sia) today has received a $400,000 grant from INBlockchain for Sia development. The Sia network has grown rapidly in 2017, and now consists of almost 1000 hosts across the world offering a collective 3+ PB of storage capacity. INBlockchain’s grant will allow Nebulous to focus on building Sia into the storage layer of the internet.
“We are thrilled to receive INBlockchain’s generous grant and look forward to continuing Sia development,” said David Vorick, cofounder and CEO of Nebulous. “This grant means Sia does not need to focus on fundraising, and can focus entirely on delivering strong technology.”
Sia is a decentralized data storage platform that connects renters seeking cloud storage to a worldwide network of hosts offering storage capacity. Hosts and renters form storage smart-contracts that are stored on the Sia blockchain. Sia splits apart and encrypts all files, ensuring privacy and security. By creating a marketplace where thousands of hosts bid on storage contracts, costs are far lower than traditional cloud providers. Ultimately, Sia aims to be the backbone storage layer of the internet.
INBlockchain provided the grant so that the Sia team can focus on development and not on fundraising. "Don't worry about money, just have things well done,” said Li Xiaolai, founder of INBlockchain.
Sia will release v1.3.0 this week, and will introduce features like file sharing over the coming months.
About Nebulous
Nebulous, Inc. is the parent company to Sia. Currently a team of four, Nebulous’ focus is reliable, decentralized infrastructure to help bring forward the future. Sia is currently the primary project of the Nebulous team.
About INBlockchain
INBlockchain is a China-based firm founded by Li Xiaolai that invests in what they call Meaningful Blockchain Applications, or MBAcoins. Learn more about their investment philosophy here.
Oh yes! Very nice, great news for Sia=). It is a good investment currently at 315 satoshis:O!
Absoutely! I'm thinking about buying some more in the next time
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I'm really interested in Sia and think I'm going to have to do some research on how the protocol works. Decentralized storage is a great idea but I have some concerns on how they implement it.
The target market seems to be everyday users... but dropbox and google drive already offer a lot of storage for cheap... businesses will be a much harder sell... I expect 5+ more years before I see this protocol usable in the real world
This is great, I think the price of Sia will rise, however, I am not confident in the team anymore. Due to Obselisk (which will probably be great in the long run, was handled very poorly), talks of hard forking and not enough developers (4 about to become 5) I have been forced to sell my Siacoin. I may buy back sometime in the future.