Blockcast Secures $2.85M Funding to Develop Content Delivery Network on Solana
Blockcast, a leading company in the blockchain industry, has recently announced the launch of an innovative content delivery network built on the Solana blockchain. In a funding round led by Lattice Fund, Blockcast successfully raised $2.85 million, with participation from Protocol Labs, Finality Capital Partners, AllianceDAO, Zee Prime Capital, RW3 Ventures, and notable angel investors such as Anatoly Yakovenko, the founder of Solana.
The primary goal of Blockcast’s scalable content delivery networks is to meet the growing demand for high-quality live streams, software updates, and gaming content. According to Mike Zajko, a partner at Lattice Fund, the current internet infrastructure is struggling to keep up with the increasing demand for high-fidelity content.
Blockcast plans to leverage Solana’s strong ecosystem of Decentralized Physical Infrastructure Network (DePIN) projects to redefine the future of community-driven networks. Solana’s low transaction cost, high throughput speed, and scalability make it an ideal choice for DePIN projects.
The combination of traditional broadcasting technology with internet streaming sets Blockcast apart. As highlighted in Cisco’s Annual Internet Report 2023, global internet traffic has been consistently increasing by 24% annually. Live streaming alone accounts for 17% of all internet traffic, a 15-fold increase in the past five years. Blockcast addresses the need for a scalable internet infrastructure solution by delivering high-bandwidth content, such as 4K live streams, to large audiences while minimizing data consumption, rebuffering, and latency.
Omar Ramadan, CEO of Blockcast, expressed excitement about the company’s ability to meet the security and service-level agreement requirements of major streaming platforms. He believes that Blockcast’s innovative approach will provide increased access to services for communities while enhancing the overall user experience.
Furthermore, Blockcast’s content delivery network not only benefits users but also alleviates congestion for internet service providers and reduces content delivery costs for content owners. By leveraging blockchain technology, Blockcast can deploy highly scalable traffic servers, contributing to a more efficient and sustainable internet ecosystem.
Blockcast’s latest funding round marks a significant milestone in the company’s journey towards revolutionizing content delivery networks. With the support of Solana’s robust blockchain ecosystem and the backing of prominent investors, Blockcast is well-positioned to redefine the future of community-driven networks.
