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Exclusive: Walrus Foundation raises $140 million from Standard Crypto and a16z for a high speed storage network

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
The foundation supports the Walrus protocol, a decentralized network for storing files.
The Walrus Foundation has successfully raised $140 million from investors including Standard Crypto and Andreessen Horowitz (a16z) to develop a high-speed storage network. This initiative aims to create a decentralized storage solution that promises to be faster, more secure, and cost-effective compared to traditional centralized cloud storage systems. The funding will support the expansion of the network's infrastructure, enhance its technology, and increase its capacity to handle large-scale data storage needs. The project is part of a broader movement towards decentralized technologies, which seek to reduce reliance on single points of failure and enhance data privacy and security.

Read the Full Fortune Article at:
[ https://www.msn.com/en-us/news/technology/exclusive-walrus-foundation-raises-140-million-from-standard-crypto-and-a16z-for-a-high-speed-storage-network/ar-AA1BjFG1 ]