DeNet to reduce costs by up to 300% with Polygon technology

Russia-based blockchain company intends to support Polygon protocol in order to decrease its operational costs

DeNet, a decentralised storage platform, has announced it will be supporting Polygon protocol in its version to be launched on the upcoming mainnet.

Polygon’s solution would allow significantly transaction price reductions in the Ethereum blockchain, by up to 300% on average.

Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.

Rafik Sinatullin, CEO and co-founder of DeNet, commented that “the use of Polygon protocol will allow DeNet platform to become not only one of the most secure and safe in the market of information storage”, but also one of the most affordable solutions.

“Storage market is rather competitive – in every walk of life you need to store information, and price really matters,” he added.

“Besides, since we are using the computers, that are mostly already on, the damage to the environment is really insignificant.

“For our miners, it is a very simple way of making money: all they have to do is just join the platform and generate cash with the equipment they have, even very old computers will be suitable.”

The company said its concept is based on the use of unoccupied storage space on users’ computers for a system of decentralised hosting and storage.

Users can earn DFILE tokens as rewards for sharing their computer storage space.

First decentralised storage-based ecosystem

Signatullin recently revealed to Coin Rivet that he believes centralised storage is overpriced, since the provider of services is usually a monopolist and takes a large commission.

In the DeNet ecosystem, he stressed, the price of data storage is regulated on an open market basis without the participation of intermediaries and additional commissions.

The company recently closed a seed round and managed to raise $1 million.

The main participants of the round were Spartan Group, consulting and investment company; NGC Ventures, an investment company from Singapore; Axia8 Ventures, a Shanghai-based venture company; Red Building Capital, a techno-venture company in Taiwan, and ‘Mr Block’ – a well-known crypto-angel.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

telegram

Previous Article

VLaunch Investor Community Grows Exponentially with Top Blockchain Influencers

Next Article

Why are poker players obsessed with CryptoPunk NFTs?

Read More Related articles

Latest Guides

Find in-depth articles, guides and videos designed to give you a better understanding of Bitcoin, DeFi, trading, security and much more.

Get started