A Web3 style Wikipedia? This project collects 40 million dollars

A golden opportunity Investment fund Andresen Horrowitzbetter known by the name a16zcollected 40 million dollars during the series B fundraising for the project ” Golden Among the various investors in this procedure are actors known and influential in the ecosystembut also personalities very different. Besides the fact that this event (among many others) reminds us that web3 does not disappear with the crisisshows interest in information networks.

A decentralized information platform?

Golden is a company that has set itself the goal of creating “Encyclopedic information platform and blockchain”.. To roughly summarize their creation, it can be similar to a cross between them Wikipedia and LinkedIn with funds from individual token rewards.

of the golden protocol, currently on testnetit is constructed in such a way that its various actors are encouraged to transmit information and especially information fundamentally true. In the manner ofan Ethereum transaction for example, any data set sent to Golden by a third party is subject to evaluation of an authenticator to know if Yes or No this new implementation has legitimacy. Data providers are then are rewarded if their quality of information is proven. Conversely, if their gesture is rejected because it was considered incorrect or sanctions are imposed on them. Before any attempt to send data, the user must blocking arguments who will be then returned or not at discretion. Another mechanism is added to this mechanism principle of reputation. The principle that will determine the overall credibility of an actor (individual profiles that can be shared in the form of NFT).

Diagram of how Golden works.
Diagram explaining how Golden works – Source: Golden.com

Project Golden finally makes you think to TheGraph project in its structure, which is somewhat its web3 counterpart. The objective is that to fully decentralize data transmission to achieve a great common work. How much for Wikipedia way ahead of Goldthe principle of sanctioning actors malicious, not reliable or several times only opponents has already proven itself in terms of effectiveness. It must be said that indeed as Golden’s founders believethey technologies and mechanisms web3 They are perfectly fitted for this type of business.

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$60 million for Golden

Reported by a official blog post of Golden on October 3, the company was able to raise $40 million during a fundraising led by giant a16z. Therefore, Golden sees its total funding increase to the extent of 60 million dollarswhich leaves him plenty of room develop peacefully.

Among the many investors in this series B collection includes a weighty and diverse audience. We find in particular Raj Gokal founder of Solana, Opensea Ventures, Michael Seibel co-founder of vibration and even Matt Bellamy lead singer of Muse… In total, more than 30 interested parties responded to Golden’s call, made by the investment fund.t Andreessen Horowitz. Except this, a16z even took the opportunity for it get more involved in the project since the year Marc Andreessen he himself has now joined Golden’s board of directors. A presence that seems far from insignificant and reveals the true hopes for Golden’s country in the coming years.

Golden seems to tick all the boxes of the web3 project with a real use case. The cross-information field was probably just waiting to take advantage blockchain qualities. As said, the topic has already been well used successfully, especially with Wikipedia, which is a reference in this matter. See now if economic stimulus skip the topic. Either way, it’s a safe bet Arta thinks a lot and intends to get one great place in the future in the main landscape. It remains to be seen if censorship will be in the program.

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