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‘Wikipedia of Structured Data’ Protocol Secures Backing From Pantera, DCG, 25 Others

Decentralized structured knowledge startup Dust Protocol has secured investments from primary crypto project gamers to construct a blockchain platform for dependable knowledge, the corporate introduced July 11.

Participants to the investment spherical incorporated well known crypto business names reminiscent of Pantera Capital and Barry Silbert’s Virtual Foreign money Workforce, together with Coinbase co-founder Fred Ehrsam. A complete of 15 project companions and 11 angel traders participated, the startup reviews.

Dust, which is able to use the $three mln it raised to create its eponymous platform, seeks to deploy blockchain generation and a device of token staking to certify the trustworthiness of information and penalize lies.

This, the corporate says, will are available in a kind “very similar to Wikipedia” however totally decentralized and with out curators.

“[I]n this new decentralized global we nonetheless depend on centralized assets of reality — Twitter determines who’s actual and CoinMarketCap determines the cost of a cryptocurrency,” CEO Yin Wu mentioned in a commentary quoted by way of Venturebeat, proceeding:

“There must be a option to resolve what is right and construct believe and not using a centralized arbiter […] Dust is doing to knowledge what Wikipedia did to the encyclopedia.”

Blockchain’s position in knowledge verification has lengthy been touted, with maximum schemes however centering on garage and tamper-proofing. Ultimate week, decentralized cloud platform DADI introduced its mainnet implementation with a watch to expanding the protection of webhosting services and products for web sites, APIs and apps.

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