Paris, May 26, 2021 (GLOBE NEWSWIRE) — Aleph.im, a cross-blockchain decentralized storage and computing network, announced today that it will integrate with Ethereum scaling project Polygon. This integration will provide an additional layer of security and permanence for NFTs, marketplaces and decentralized applications (dApps) running on Polygon.
A common misconception is that NFTs are decentralized and safe by default, which is not always the case. The NFT market generated over $1.1 billion in cumulative sales in Q1 of 2021, which represents an increase in market growth of over 2,000% since Q4 of 2020. But many NFT collectors fail to realize that their prized digital collectibles are constantly at risk of disappearing due to widespread reliance on centralized infrastructure for media storage and hosting.
Buying an NFT entails minting a cryptographic signature or token, like a digital fingerprint that references the artwork, gif or video, which is located elsewhere on the internet. Images or videos associated with NFTs that are hosted on traditional, centrally-operated web domains can go missing or be altered. To remedy these issues, many NFT creators have started to leverage IPFS, InterPlanetary File System, a peer-to-peer web protocol.
Jonathan Schemoul, CEO of aleph.im explains: “The issue is that NFT marketplaces might opt for centralized options for data hosting, that is faster to deploy such as AWS or Google. While this is a cheap and efficient option, it often creates central points of failures, or vulnerabilities to attacks”.
At its core aleph.im offers unstoppable decentralized storage solutions for any files or data. For NFTs, the aleph.im Backup Dapp creates a unique snapshot in time of all the data attached to it, backs it up on IPFS, and pins it over 50 times on each core channel node of the aleph.im decentralized network.
Merging Forces to Power the Decentralized Web
The growing popularity of decentralized finance and NFTs has led to the largest blockchain networks like Ethereum becoming congested with transactions, and bottlenecked by high fees. Supporting the transition from Web 2, to a completely decentralized Web 3 requires advanced and secure infrastructure to be built.
Polygon (Matic Network) solves these problems by providing a well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its ecosystem is one of the biggest multi-chain systems in the world encompassing 50+ EVM networks, hundreds of enterprise chains, and dozens of Layer 2 implementations.
Sandeep Nailwal, Co-Founder of Polygon said, “We’re pleased to collaborate with Aleph.im to further supercharge the NFT ecosystem on Polygon, allowing NFT-focused Dapps to seamlessly use aleph.im’s decentralized storage services for their NFT storage needs. Combined with Polygon’s high-speed and low-cost txns, this will be a great service for developers in the NFT space”.
Under this partnership, Polygon and its integration partners — which currently boasts more than 40 NFT-focused and other projects — will be able to leverage the aleph.im decentralized databases (including file storage), computation, and a decentralized identification (DID) framework, helping interconnected dApps and protocols to strip off any centralized parts of their stack, thus achieving a fully decentralized architecture.
“You can think of aleph.im as a decentralized AWS or Firebase” added Jonathan Schemoul of aleph.im. “Our mission is to fully decentralise the web and this includes NFTs, marketplaces, dApps and blockchain networks”.
Aleph.im is a distributed cloud platform that provides serverless trusted computing services, file storage and database hosting to its users. Aleph.im offers a decentralized solution that could rival traditional centralized cloud computing. It provides dApps of any chain instant access to database solutions thanks to its scalable peer-to-peer network and programming language-agnostic interface. For more information visit aleph.im
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About Polygon (previously Matic Network)
Formerly known as Matic, Polygon aims to enable Ethereum to become a full-fledged, powerful multi-chain system. Polygon Hybrid POS-Plasma Chain is a blockchain scalability solution which provides secure, scalable and instant transactions powered by PoS side chains and an adapted version of Plasma. Polygon aims to change the slow, expensive, and complex decentralized transactions by leveraging a combination of blockchain scaling, developer platform and tools, and a rabid focus on user experience. They aspire to see a world where blockchain gains mainstream adoption, and fulfills its true promise, enabling Ethereum to become a full-fledged, powerful multi-chain system.
Learn more at: matic.network
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