HTX Ventures Invests in CESS to Enhance Decentralized Storage Solutions
Singapore
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December 28, 2023 11:41 PM Eastern Standard Time
Singapore – December 29, 2023 – HTX Ventures, the global investment division of the cryptocurrency exchange HTX, announces its investment in Cumulus Encrypted Storage System (CESS), a blockchain-powered decentralized storage and CDN infrastructure for Web3. This investment is part of HTX Ventures' ongoing commitment to foster cutting-edge technologies that drive the future of decentralized data solutions.
CESS offers an efficient, transparent, and secure value network that empowers data creators and owners in redefining value distribution in data asset circulation. The platform adopts multiple advanced technologies and mechanisms to ensure the integrity, security, traceability, and privacy of data. This includes the Random Rotational Selection mechanism (R²S), which addresses the “Miner’s Dilemma” and ensures a stable and efficient network, and the Proof of Reduplication and Recovery (PoDR²) for data availability and security.
"CESS’s decentralized storage solution is enhancing data protection and accessibility for a broader user base," stated Edward Chen, Managing Partner of HTX Ventures. "Our investment in CESS aligns with our vision to support technologies that not only enhance Web3 infrastructure but also bring about transformative changes in how data is stored and accessed."
Nicholas Zaldastani, Co-Founder and Chairman of CESS, expressed his appreciation for the investors' support. “This funding will enable us to continue our mission of providing global decentralized data services for Web3, supporting large-scale commercial use cases with top-tier security and performance. We're grateful for the trust and support from investors and look forward to delivering innovative solutions that reshape data storage and distribution."
CESS's unique approach to incentivizing participation in its network is particularly noteworthy. Transparent and fair incentive mechanisms enable anyone to become candidate consensus miners, democratizing the network infrastructure. The platform also supports a wide range of use cases, including Metaverse, NFT, DeFi, Streaming media, Social media, Gaming, and RWA (real-world assets), contributing to building a diverse and robust ecosystem.
About CESS
CESS (Cumulus Encrypted Storage System) is a blockchain powered decentralized storage and content delivery network (CDN) infrastructure for Web3. Users and creators alike use the platform for on-chain data sharing and value transactions, whilst builders can develop and deploy DApps.
Offering the most optimal Web3 solution for storing and retrieving high-frequency dynamic data, CESS reshapes the value distribution and circulation of data assets whilst ensuring data sovereignty and user privacy.
By utilizing a decentralized physical infrastructure network (DePIN) model, CESS drives mass deployment of network nodes globally through incentives.
About HTX Ventures
HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice.
HTX Ventures currently backs over 200 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most active Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including IVC, Shima, and Animoca.
Contact Details
Michael Wang
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