Crypto Fundraise
Multicoin Capital, a prominent crypto venture firm, led a $10 million fundraise for Permissionless Labs, the company behind Pipe - a proposed "content delivery network" (CDN) that uses cryptocurrency tokens to incentivize people to host internet infrastructure.
Crypto-Powered CDN
Pipe is aiming to challenge industry giants like Cloudflare and Akamai by creating a decentralized alternative CDN, where regular people can lend their computing power to host internet infrastructure in exchange for crypto rewards. This "decentralized virtual infrastructure network" (DeVIN) is similar in concept to Helium's model of using tokens to encourage people to set up WiFi routers.
Solving Content Delivery Challenges
Many websites struggle with content delivery, as their data has to travel long distances from hosting servers to end-users. Pipe aims to address this by prompting people to set up CDN nodes in strategic locations, caching content and allowing faster access for nearby users.
Blockchain and Launch Plans
Pipe will be built on the Solana blockchain and is planning to launch a testnet at the Breakpoint conference in Singapore. The project's CEO, David Rhodus, believes the crypto incentives can help rapidly scale up the CDN network where it's needed most.
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