Sukhavati to Receive Grant from Web3 Foundation
According to the latest updates, Sukhavati Networks’ PoC Module(Proof of Capacity module) has officially been accepted by the Web3 Foundation as a qualifying grant application. The Sukhavati PoC Module will be a part of the qualifying applicants of the 10th wave, the second quarter of 2021, where one can track their progress through the public Web3 Foundation Github page. There had been 18 eligible applicants on the respective 10th wave, including the Sukhavati Network.
Sukhavati PoC module, an algorithm, is designed for its Consensus layer, which runs the whole blockchain network. This algorithm was first described in 2014. It has proven its efficiency in various applications, most notably BurstCoin. The module’s application means that once initialized, it will only require minimal computing power while maintaining high-security consensus. It allows Sukhavati to achieve advantages such as security, fairness, and scalability, providing Sukhavati a leading edge. Such potential is reassured by the PoC module being chosen, amongst many applicants, to qualify for the web3 foundation grant. Yet this is merely the beginning for Sukhavati, indicating the infinite potential Sukhavati carries within the web 3.0 ecosystem.
Sukhavati Network is a decentralized cloud network service that is focused on storage. The network is built on hardware-based Trusted Execution Environment (TEE) and the Substrate framework to inspire and incentivize improvements on distributed storage ecosystems.
Sukhavati creates a decentralized gateway that covers both Web 3.0 and Web2.0 storage services. It allows unified data storage, retrieval, and management on Web 3.0 applications.
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