Multicoin Led $10M Raise for Crypto-Incentivized Internet Infrastructure Network Pipe

Permissionless Labs, a startup developing Pipe Network, is concentrating on an often overlooked yet essential aspect of today’s internet – the need for swift content delivery from hosting servers to users. Since numerous websites cannot tolerate delays in data transfer over long distances, they resort to utilizing networks of nearby relay servers that can be activated by end-users when needed.

As an analyst, I find it fascinating how a few dominant internet companies such as Cloudflare and Akamai maintain the swift functionality of the modern web through Content Delivery Networks (CDNs). These systems function smoothly, but Permissionless Labs proposes that by leveraging crypto incentives, we could motivate everyday individuals to contribute their personal computing resources to a decentralized, competitive platform.

Step into the world of Decentralized Virtual Infrastructure Network (DeVIN), a progression that has left many scratching their heads, reminiscent of the frenzy surrounding Decentralized Physical Infrastructure Networks (DePIN). Imagine if Helium used tokens to encourage people to install Wi-Fi routers in various locations. The same fundamental token economics principles apply here with Pipe’s DeVIN setup.

In essence, people can swiftly increase CDN nodes in crucial locations, as suggested by CEO David Rhodus to CoinDesk. This is achieved by leveraging their existing computational resources. Subsequently, these computers aid users in accessing pre-stored content more efficiently, a task that would otherwise be challenging due to the geographical distance between the users and the servers where the content resides.

According to a recent announcement, the upcoming project intends to utilize the Solana blockchain for its operations. They are also preparing to debut their test network at the Breakpoint event in Singapore.