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article imageInternxt announces ICO to build a 'brand new Internet'

By James Walker     Aug 23, 2017 in Technology
Internxt, a new peer-to-peer cloud provider, has announced an initial coin offering (ICO) to fund its attempt to build a decentralised Internet. The company wants to solve technical roadblocks to reaching web decentralisation, offering more privacy.
Internet decentralisation is an increasingly hot topic. New apps, startups and cloud services are leading the way in progressing away from today's centralised web. Under the decentralised model, the server farms of Google and Amazon are replaced by smaller edge nodes closer to the consumer. Resources are distributed among network participants, similarly to downloading files from torrents.
Internet companies claim to offer strong protection of personal information. Keeping all your files on one giant platform is akin to putting your eggs in one basket though. As the old proverb teaches, if an attacker breaks in, you've lost everything.
Internxt wants to take decentralised technology mainstream. It will host personal data, applications and websites in a decentralised cloud. The aim is to create the largest peer-to-peer computing network for people around the world, connecting the Internet through individuals rather than gargantuan datacentres.
Internxt would also be compatible with smartphones, enabling app developers to bake extra security into their products. Different mechanisms would be available depending on the privacy level required. In the simplest method, the app would just backup data to the decentralised cloud. Alternatively, developers could choose to host their app from Internxt's platform.
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In a whitepaper explaining the technology, Internxt founder Fran Villalba Segarra said it's time for a "better internet" that lessens governmental control over people. Segarra is a seasoned entrepreneur with several previous web-based projects to his name. Internxt is the biggest to date, a venture which could help define the Internet's future.
"We believe that Governments and Corporations have too much say over people. Although there needs to be regulation to avoid unethical and illegal activities, as of now, control over people is excessive," Internxt said. "Overall, we believe it's time for a better internet. Welcome To A New Internet. Welcome to Internxt."
Internxt will open its ICO on September 7. The blockchain-based funding round will last until September 28 and result in the sale of 45,000,000 Internxt tokens. The tokens have an equivalent value to 20 Ethereum.
Internxt hopes to raise 500ETH, allowing it to complete the development of its decentralised cloud platform. The service will also be compatible with external decentralised technologies, such as Freenet, Zero Net and DFINITY. This will allow interoperability between the growing numbers of decentralised web technologies.
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