Acurast has raised $5.4 million to improve the network of smartphones that power distributed cloud computing.
The competition for distributed cloud computing is intensifying. On May 26, in a press release shared with Crypto.News, Acurast announced it had raised $5.4 million to boost its decentralized cloud solutions.
The sale was finalised on May 22, with the token price of $0.09, completely diluting the company's $90 million valuation. To promote fair distribution, the sale was made public with a minimum purchase of $100 and a maximum allocation of $2 million per user.
You might like it too: Crypto VC Funding: The world dominates with a $135 million promotion, with a $41 million slash bag
The company said the raised capital will be directed towards improving the network of smartphones that power the decentralized cloud. The network supports a wide range of use cases, including blockchain infrastructure and distributed AI.
“Most of the new raise capital will be used to strengthen our protocols, which continues to prove that computing is verifiable, confidential, energy efficient, truly decentralized and equipped with pocket mobile phones.
Decentralized Clouds are gaining traction
Acurast has surpassed 72,000 smartphones and has enabled 256 million transactions to date. According to the company, it has become today's most decentralized computing network.
You might like it too: Focused Cloud: Barriers for Startups in Developing Countries | Opinions
“ACU tokens are at the heart of this economy. Akautak allows anyone to calculate on mobile phones, provide true decentralization, drive a secure, scalable, decentralized computer economy while being powered by a proactive, scalable, decentralized computer economy, promoting active collaboration and sustainable growth.
Traditionally, cloud computing is dominated by major tech companies such as Amazon, Google, and Microsoft. These companies invest billions in global data centers and sell services to online platforms.
In contrast, distributed cloud solutions rely on a distributed network of servers, which may contain personal devices, such as the Acurast model. This allows users to take advantage of the device's idle computing power in exchange for rewards.
read more: Invest $10 million in Google Cloud BNB Chain Accelerator Program
