The decentralized cloud platform now helps over 1,000 enterprises as $ICNT goes stay on Binance, Kraken, and Bybit.
Unimaginable Cloud Community (ICN), a decentralized cloud infrastructure supplier, launched its mainnet and native token on Thursday following a $34 million funding spherical that values the corporate at over $470 million.
The brand new token, ICNT, is now buying and selling on a number of main exchanges, together with Binance, Kraken, Bybit, Bitget, and others. Token holders can use ICNT to assist safe the community, stake for rewards, or assist cloud-based workloads, in keeping with a press launch seen by The Defiant.
ICNT is presently priced at $0.32, giving the token a completely diluted valuation (FDV) of round $221 million, in keeping with CoinGecko.
“In less than two years, we’ve proven that decentralized cloud can outperform big tech,” mentioned Dr. Kai Wawrzinek, co-founder & CEO of ICN. “With $34 million raised and the biggest exchanges behind us, we’re set to bring sovereign, cost-efficient solutions to every enterprise and developer on the planet.”
The $34 million funding was led by NGP Capital, which beforehand backed Xiaomi and Helium. Different buyers embrace 1kx, Protocol Labs, No Restrict Holdings, and HV Capital.
In line with the discharge, ICN is utilized by greater than 1,000 companies and generates $7 million in annual income. It presently provides 80 petabytes (PB) of storage and plans to develop to 250 PB worldwide. The corporate is positioning itself as a Web3 various to cloud giants like Amazon Net Providers (AWS), which instructions over 30% of the $330 billion world market, in keeping with Statista.
Earlier this 12 months, AWS suffered a significant outage that disrupted a number of cryptocurrency exchanges, together with Binance, KuCoin, and MEXC. The event sparked a debate throughout the crypto neighborhood about whether or not decentralized infrastructure is just too depending on centralized platforms.
“This latest outage at AWS is another example of the enormous vulnerability of the global cloud in the hands of a few centralized providers,” Wawrzinek advised The Defiant on the time “As demand for cloud capacity grows, the risk of single point of failure increases, as does the risk of hacks, and vulnerability to political wrangling over the production of semiconductor chips and trade tariffs.”
He added that the shift from Web2 to Web3 is exposing the cracks in centralized fashions. “It is only a matter of time before Web3 wakes up to the fact that the only way to scale the global cloud and internet reliably is through decentralized models that don’t carry the myriad of risks that centralized models do.”
