Blockchain-free decentralization platform Nillion raises $20 million

Blockchain-free decentralization platform Nillion raises  million
  • Million, which raised $20 million, aims to decentralize data transfers and storage through novel mathematical applications without using blockchain. Distributed Global led the funding round with additional participation from Big Brain Holdings, Chapter One, Hash key, and over 150 others.

Million, a startup building a blockchain-free decentralization platform, has raised $20 million in seed capital. Big Brain Holdings, Chapter One, GSR, HashKey, OP Crypto, and SALT Fund, were among the more than 150 investors in the round, led by investment firm Distributed Global. The company’s members are from Uber, Indiegogo, and Hedera Hashgraph, as well as executives from Coinbase and Nike. The project is based on a mathematical innovation called Nil Message Compute, invented by cryptography professor Miguel de Vega.

David Ga,” the founder and general partner of OP Crypto, said in a statement that billions “could open” up a new universe of use cases that blockchain could never have imagined.”. “What proof-of-work has done for blockchain I believe NMC can do for multi-party computing as a technology. While decentralized file storage is not new, many existing protocols such as Filecoin and IPFS use blockchains, which allows the underlying data to be calculated quickly.” Unlike blockchain technology, the network nodes of Nillion don’t talk to one another to store transaction information.

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