Singapore-based Cumulus Encrypted Storage System (CESS) Raises $8M in Series A Funding for Blockchain-Powered Decentralized Data Services for Web3

Singapore-based company Cumulus Encrypted Storage System (Cess) has raised $8 million in Series A funding from a group of investors including Web3 Foundation, Polkadot Ecology Research Institute and Singchain Investment. Cess provides a blockchain-powered decentralized storage and content delivery network infrastructure for Web3, which allows users to share data and conduct value transactions while ensuring data sovereignty and user privacy. The company plans to use the funds to provide decentralized data services for Web3, including use cases such as Metaverse, NFT, DeFi, streaming media, social media, gaming and RWA. Cess incentivizes participation through transparent and fair incentive mechanisms, allowing anyone to become a candidate consensus miner and preventing large nodes from monopolizing the network.

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