$8 Million Funding: A Potential Project in the DePIN Track
On December 29, 2023, CESS announced the completion of a $8 million Seed round funding, with investors including well-known market maker DWF Labs, exchange Huobi, and IVS, an investor in YGG. This round of funding further solidifies CESS‘s leading position in the DePIN track and provides strong support for the development of its decentralized storage and CDN network.
CESS: Possibly the Largest Public Chain in the DePIN Track
CESS began its development in 2019 and, as a Layer 1 network based on the DePIN design, its core goal is to achieve on-chain data sharing, DApp development, and efficient network services through global node deployment. At the same time, CESS adopts a decentralized architecture where node holders jointly manage the network to ensure data privacy and security.
In the 2021 Global Web3 Hackathon, the CESS team won first place with the FMD-CESS solution, which has now become the core technology of the CESS testnet. CESS utilizes a multi-layer network architecture, integrating decentralized storage and CDN networks to enhance data security, privacy protection, and content distribution efficiency. Its architecture reduces development costs, allowing developers to more easily use decentralized storage and CDN services.
Innovative Architecture and Economic Model
CESS adopts a three-layer network and four-layer architecture, including different types of nodes for storage, consensus, caching, and retrieval. Each node provides specific services to optimize the upload/download experience, making it more convenient and efficient compared to other decentralized storage and CDN solutions. Anyone can participate and become a node by contributing storage space and hardware resources in exchange for token rewards.
Experienced Team: Harvard Background + Cloud Computing Experts
CESS founder Nicholas graduated from Harvard Business School and is an alumnus of Worldcoin, Gemini, and Omni, as well as a long-time Forbes columnist with experience in founding multiple successful companies. Co-founder Joseph has extensive experience in cloud computing and cybersecurity, having served as the Chief Network Architect for a top-tier cybersecurity company in the U.S. Jessie, an early participant in Crypto, has a deep understanding of blockchain technology and decentralization.
It is worth noting that the CESS team, leveraging its technical strength, has already achieved profitability and is one of the few public chains and DePIN projects generating revenue without issuing tokens.
Future Roadmap: Nodes, Reward Programs, Token Listing
After the funding announcement, the CESS team released its future development roadmap:
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Node Plan: Nodes are expected to be a key part of the CESS network and an important pathway for obtaining future tokens.
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Community Incentives: CESS plans to incentivize community contributions through an ambassador program, with contributors receiving token rewards.
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Airdrop Expectation: As per industry norms, CESS may conduct an airdrop for testnet users.
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Token Listing: CESS tokens are expected to be listed on exchanges in 2024. Given the current market trends in the DePIN track, the project may potentially become one of the top 100 public chains globally.
CESS Future Market Value Outlook: Could It Surpass Filecoin?
Currently, CESS has not disclosed the specific valuation or tokenomics of its $8 million funding round. However, by referencing recent DePIN sector star projects such as Helium, Livepeer, DIMO, and IoTeX, it can be speculated that CESS’s future market capitalization could range between $500 million and $1 billion. Considering the involvement of DWF Labs as a core operator and the lock-up period for institutional investors following the token’s listing, the market cap potential could further expand to $1.5 billion to $6 billion.
The logic behind this potential valuation is supported by the following core advantages:
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Enterprise-level Storage Capacity: CESS supports large-scale enterprise data storage while using a decentralized architecture to deliver near-Web2 data access experience, providing stable and reliable infrastructure for traditional businesses and Web3 applications.
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Online Storage and Real-time Sharing: CESS has been optimized for the high-frequency dynamic data storage and retrieval needs of Web3, particularly for applications with high data interaction requirements such as gaming, social media, DeFi, and AI.
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Decentralized Storage + CDN Integration: CESS combines decentralized cloud storage and CDN networks to offer millisecond-level data retrieval and distribution capabilities, improving data availability and transmission efficiency.
Compared to decentralized storage pioneers like Filecoin, CESS’s breakthrough lies in its creation of a “data value network.” It not only provides storage services but also enables the monetization and circulation of data, allowing users to control the value distribution of their own data. This model could revolutionize the data economy, positioning CESS as a leading player in decentralized data infrastructure, with a market cap potential that may even surpass Filecoin.
Conclusion
As a key player in the decentralized storage and CDN sector, CESS demonstrates immense potential in terms of technology, architecture, and economic models. With its strong funding background, talented team, and upcoming incentive mechanisms, the growth prospects of this project are worth long-term attention.
