Fleek Network, the latest developer platform, has raised $25M in Series A. The platform is set to launch in 2023. Fleek will help developers build, host, and deliver content and applications on Web3 protocols. Currently, the platform runs on AWS and Cloudflare, which they call Web2 infrastructure, but that is changing as they build out the Web3 infrastructure.
Harrison Hines, the co-founder, stated their focus is on the Web3 CDN market because that is the missing piece. The Fleek network runs on Web3 protocols like Ethereum, Filecoin, and IPFS.
Background
- Company: Fleek Network
- HQ: New York
- Founded: 2018
- Raised: $25M
- # of Employees: ~40
- Founders: Harrison Hines (CEO) and Janison Sivarajah (CTO)
- Product: IPFS hosting, content, and application delivery network using p2p technologies.
The startup refers to itself as the Fleek Edge, uses p2p technologies, and performs like Web2 CDNs but at a much lower cost.
In short, Fleek helps developers create and host websites, apps, decentralized applications (DApps), and other services on open, trustless, and permissionless technologies that prioritize user control, encryption, privacy, and peer-to-peer (P2P) interactions. The key differentiator is they make it simple to build on top of Open Web protocols and a base layer infrastructure that supports these protocols, enabling developers to take the first steps towards building on the New Internet and entering the era of Web 3.0.
However, Cloudflare is also targeting the Web3 market, and they currently have three products: IPFS Gateway, Ethereum Gateway, and Ploygo Gateway.
Cloudflare’s Web3 benefits are as follows:
- Simplicity: You can access content from Web3 networks without having to install or run any special software.
- Security: Cloudflare’s global Anycast network provides enhanced security protection.
- Reduced maintenance: Cloudflare handles the security, reliability, and performance monitoring, so your developers don’t have to.
- Reliability: Cloudflare’s global Anycast network ensures a high level of reliability and availability.
- Performance: With Cloudflare’s edge network of data centers located in over 270 cities, content can be cached and served from locations close to your end users, improving performance.
Protocol Definitions
IPFS (InterPlanetary File System) is a decentralized, peer-to-peer file-sharing protocol that allows users to access and share content through a global network of computers. IPFS hosting refers to hosting websites, apps, or other types of content on IPFS rather than on traditional centralized servers. This allows for faster and more efficient distribution of content, as well as increased resilience and censorship resistance.
- One way to host content on IPFS is to use a hosting service specializing in this type of hosting. These services typically offer tools and resources for uploading and managing content on IPFS and options for customizing how the content is served to users. Alternatively, you can host content on IPFS by running your own IPFS node and manually adding content to the node. This can require more technical knowledge and setup, but it gives you more control over your content and how it is served.
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps). It was developed in 2013 by Vitalik Buterin, a programmer and co-founder of Bitcoin Magazine.
- Ethereum has its programming language, called Solidity, which is used to write smart contracts and DApps on the Ethereum platform. These smart contracts and DApps are stored on the Ethereum blockchain, a decentralized and distributed ledger that keeps track of all the transactions on the platform.
- One key feature of Ethereum is that it allows developers to build and deploy decentralized applications (DApps) on the platform. These DApps are built using smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. This allows for automating complex processes and creating secure, transparent, and verifiable systems without needing a central authority.
- Ethereum is also the name of the cryptocurrency used to facilitate transactions on the Ethereum platform. The currency, called Ether, is used to pay for the computational resources required to execute smart contracts and DApps on the Ethereum network.
Filecoin is a decentralized storage network that uses FIL cryptocurrency to facilitate transactions. It is designed to provide a secure and efficient way for users to store and retrieve data while also allowing individuals and organizations to monetize their unused storage capacity.
- The Filecoin network is built on the InterPlanetary File System (IPFS), a decentralized, peer-to-peer file-sharing protocol. The Filecoin cryptocurrency is used to incentivize the storage and retrieval of data on the network, with users paying Filecoin to store their data and storage providers earning Filecoin for hosting and serving the data.
- Filecoin aims to provide a more decentralized and cost-effective alternative to traditional cloud storage services, such as Amazon S3 or Google Cloud Storage. By leveraging the power of a decentralized network, Filecoin aims to offer improved security, privacy, and reliability compared to centralized storage solutions.
- Filecoin was developed by Protocol Labs, a research, development, and deployment laboratory focused on building open protocols, systems, and tools for a better internet. It was launched through an initial coin offering (ICO) in 2017 and has since gained significant traction within the cryptocurrency and decentralized storage communities.