Acurast has raised $5.4 million to improve its network of smartphones powering decentralized cloud computing.
The race for decentralized cloud computing is heating up. On May 26, in a press release shared with crypto.news, Acurast announced that it had raised $5.4 million to power its decentralized cloud solution.
The sale was finalized on May 22, with the token priced at $0.09, giving the company a fully diluted valuation of $90 million. In an effort to promote fair distribution, the sale was was open to the public, with a minimum purchase amount of $100 and a maximum allocation of $2 million per user.
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According to the firm, the capital raised will go toward improving its network of smartphones that power the decentralized cloud. This network supports a range of use cases, including blockchain infrastructure, decentralized AI, and more.
“Most of the newly raised capital will be used to enhance our protocol, which continues proving that compute can be verifiable, confidential, energy-efficient, and truly decentralised, powered by the phones in our pockets,” said Alessandro De Carli, President of the Board and Co-Founder of Acurast.
Decentralized cloud is gaining traction
Acurast has surpassed 72,000 smartphones, which have enabled 256 million transactions so far. According to the company, this makes it the most decentralized computing network today.
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“The ACU token lies at the heart of this economy. Acurast allows anyone and everyone to run compute with their mobile phones, providing real decentralisation, and become stakeholders in the network powering a secure, scalable and decentralised computer economy while incentivising active collaboration and sustainable growth,” Alessandro De Carli.
Traditionally, cloud computing is dominated by big tech firms like Amazon, Google, and Microsoft. These companies invest billions in global data centers and sell their services to online platforms.
By contrast, decentralized cloud solutions rely on distributed networks of servers—sometimes including personal devices, as in Acurast’s model. This allows users to tap into the idle computing power of their devices in exchange for rewards.
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