We often hear in crypto about how a project is the Web3 of XYZ or the decentralized version of ABC. It makes all the technology crypto projects use easier to understand. And today, we have one with a big, lofty goal. To become the Amazon Web Services cloud infrastructure for the industry. The project is Openmesh and they have some big things happening.
Let’s see what Openmesh has been up to.
Introduction to Openmesh
As I said, they want to be the Web3 AWS. So that means building out a decentralized cloud infrastructure for data storage and access. Most of the decentralized storage projects in crypto, and there are a few we like, are trying to be the Dropbox of the industry. And that’s a great goal. But larger-scale major database storage and access have been elusive so far. Openmesh wants to change this.
Openmesh’s DePIN network covers 172 countries and over 480 regions. It’s already a widely distributed network. And it’s powerful and fast. Currently, 26 PB (petabytes) of storage are in use at a bandwidth of 900 PB. A petabyte is 1 million GB. While individuals can use it, this is storage for corporate, database, and enterprise needs. The speed and security they need for their data is managed in a decentralized way.
It counts among prestigious Web2 and Web3 partners like:
- MongoDB
- Snowflake
- Polygon
- Singularity.Net
- Digital Ocean
- and more.
Openmesh is working hard to bring Web2 technologies and methods that work into Web3. And people are noticing.
The Chainlink Partnership
And now, the big news. Openmesh has a big new partnership with Chainlink. And this one is a big deal. If businesses and enterprises are going to trust their databases and data access to Openmesh and its decentralization, then there must be integrations with real-world data for things blockchain can’t do. Blockchain can’t track stock prices for a trading engine. Or commodities prices for an energy seller or supply chain business. But oracles can. Their role is to bring real-world data onto the blockchain.
That’s what makes this partnership so important. Openmesh has the infrastructure and Chainlink has the data feeds the infrastructure needs.
Combining CCIP with Openmesh’s Decentralized Cloud can help make apps, services, and protocols more decentralized.
Hear from @AshtonHetti, founder @OpenmeshNetwork, a #SmartCon Platinum Sponsor, on why 2025 is the era of decentralization: https://t.co/KohJOkdMLE pic.twitter.com/doBy2FBcuV
— Chainlink (@chainlink) October 20, 2024
Chainlink and Openmesh are working together in a couple of different ways. Openmesh calls the integration with Chainlink’s CCIP “the era of decentralization.”
The 2 biggest parts of the partnership are
- Integration with Chainlink’s CCIP or Cross-Chain Interoperability Protocol AND
- Integrating Chainlink nodes into Openmesh Xnode Studio. With this integration, anyone will be able to set up their own Chainlink node on Openmesh in less than 5 minutes. Plus, users will pay no data storage fees for the first 12 months. That’s a great deal. And it promotes even more decentralization as more people can operate nodes from anywhere.
If an app truly wants to be fully decentralized including its buildout, data storage and access, and feeds where the app gets its data, now it can thanks to this new partnership. Hopefully, the era of dApps still building on AWS, Google Cloud, or AliBaba Cloud and being dependent on these services will end soon.
After all, if Amazon can shut down an app due to data storage issues or for any reason, then how decentralized is that app really?
Token Performance
Openmesh is launching its $OPEN token any day now to use as its utility and transaction token to pay for storage space. There are ICO listings in a couple of places but the Openmesh X account is the best place to stay updated so you can get your chance to buy this token.
Chainlink’s native $LINK is the #18 project by market cap in all crypto. It is currently trading at just under $12 with a market cap of $7.1 billion. Out of a 1 billion total supply, there are 626 million $LINK tokens in circulation.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This post is sponsored by Openmesh.
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