Blockcast Secures $2.85M to Build Content Delivery Network on Solana
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Blockcast will use Solana’s strong ecosystem of DePIN projects.
Last updated:
October 15, 2024 09:18 EDT
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Sujha Sundararajan
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Sujha Sundararajan
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Last updated:
October 15, 2024 09:18 EDT
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Blockcast has announced the launch of a new content delivery paradigm via a community-driven network, which is built on
Solana
.
The firm has secured $2.85 million in a funding round led by early-stage crypto venture Lattice Fund. Protocol Labs, Finality Capital Partners, AllianceDAO, Zee Prime Capital, and RW3 Ventures, along with angel investors, including Solana founder Anatoly Yakovenko, also participated in the round.
Blockcast’s scalable content delivery networks aim to meet the increasing demand for higher bitrate live streams, software updates, games etc.
“The internet’s current infrastructure is struggling to meet the insatiable demand for high-fidelity content,” says Mike Zajko, Lattice Fund partner.
Per a press release shared with Cryptonews, Blockcast will use Solana’s strong ecosystem of DePIN projects to “redefine the future of community-driven networks.”
Solana works well for DePIN (decentralised physical infrastructure Network) projects due to its low transaction cost, high-throughput speed and scalability.
Blockcast Combines Traditional Broadcasting With Internet Streaming
Cisco’s Annual Internet Report 2023
noted a consistent increase in global internet traffic of 24% annually. Further, live streaming accounts for 17% of all traffic, a 15-fold increase in the past 5 years. As a result, there is a strong need for a scalable internet infrastructure solution.
Blockcast addresses the demand by combining traditional broadcasting technology with internet streaming. This means delivering high-bandwidth content to large audiences, like 4K live, with reduced data consumption, rebuffering and latency.
“A lot of work was put into meeting the security and service-level agreement (SLA) requirements that major streaming platforms need to serve content from these networks,” said Omar Ramadan, CEO of Blockcast. “I’m genuinely excited to bring this to communities and the increased access to services it will provide.”
Blockcast’s approach not only enhances the user experience but also alleviates congestion for internet service providers, the release noted. Additionally, it also lowers content delivery costs for content owners.
With the help of blockchain tech, Blockcast deploys highly scalable traffic servers, leading to more efficient and sustainable internet ecosystem.
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