Companies such as Andreessen Horowitz and Opensea Ventures invested in the decentralized data center project.
Decentralized data processing startup Golden has raised $40 million in a new funding round. The round was led by large investment firm Andreessen Horowitz (a16z), as well as Opensea Ventures, Solana-related companies, Figma, Protocol Labs and others.
The main goal of Golden is to create a decentralized data center using Web3 technologies to secure customer data. According to the company’s CEO Jude Gomila, most existing data mining models are not up to the task. Gomila is confident in the need for a global repository that would unite users around him and make them participants in the project.
Golden provides a protocol that rewards clients for validating and submitting data, and the developers say it has ways to penalize fake data entered into the system. The protocol also has user reward boosters that send the most frequently used and requested data to incentivize users to enter useful information.
The business model of the protocol is based on the sale of tokens to any third parties who want to use the verified data in their business. The protocol, according to Golden, will allow users to more securely store the right to access data.
Chris Dixon, founder of the a16z cryptocurrency division, said earlier that Web3 companies need to do more to adopt new technologies and return control of the Internet to people.
Source: Bits
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