It raised finance through grants, a seed round and crowdfunding, with a €1.9 million grant in 2019 and has now raised €7 million in a three-part transaction — €3.5 million in equity, €2.4 million in equity-related financial instruments and €1.1 million in debt.
That may be so but no one funder was convinced enough to put in the whole €7 million, and arranging three aspects of funding must have been complex.
Incoming data is split into redundant chunks, using Reed-Solomon error-correcting codes, encrypted, and deployed across this network.
The algorithm suite is also in charge of triggering the recovery procedure for files on the Swarm, ensuring network availability, a level of performance, and data resilience.
A downside of a distributed P2P network is that the amount of network IO for any one file is likely to be much higher than for the same file stored in a mainstream public cloud.