Decentralized structured information startup Dirt Protocol has secured investments from primary crypto mission gamers to construct a blockchain platform for dependable information, the corporate announced July 11.
Contributors to the investment spherical incorporated well known crypto trade names reminiscent of Pantera Capital and Barry Silbert’s Digital Currency Group, in conjunction with Coinbase co-founder Fred Ehrsam. A complete of 15 mission companions and 11 angel traders participated, the startup reviews.
Dirt, 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 absolutely decentralized and with out curators.
“[I]n this new decentralized world we still rely on centralized sources of truth — Twitter determines who is real and CoinMarketCap determines the price of a cryptocurrency,” CEO Yin Wu stated in a remark quoted through Venturebeat, proceeding:
“There needs to be a way to determine what is true and build trust without a centralized arbiter […] Dirt is doing to data what Wikipedia did to the encyclopedia.”
Blockchain’s position in information verification has lengthy been touted, with maximum schemes however centering on garage and tamper-proofing. Last week, decentralized cloud platform DADI introduced its mainnet implementation with an eye fixed to expanding the safety of internet hosting products and services for web sites, APIs and apps.