IOTA: TangleHUB choosen to join accelerator program to foster ecosystem development and adoption

  • By partnering with Newchip, TangleHUB will offer the tools to seed-stage founders who need to rapidly fund, build and scale their companies.
  • The two players will unlock decentralized storage’s true potential by leveraging TangleHUB’s open-source storage solution PIPE.

Earlier this month, TangleHUB allowed its partners to witness the demo of PIPE, its open-source decentralized storage, and transfer infrastructure. In the latest development, TangleHUB has been chosen for Newchip’s prestigious global accelerator program.

This new accelerator program will offer the required skillset and tools to seed-stage founders who need to rapidly fund, build and scale their companies. In the past, similar accelerator programs have garnered over 17.5 times the average funding amount. With the Newchips accelerator program, nearly 1000 founders from over 35 countries raised $300 million in total capital.

Depending on the company stage i.e. Pre-Seed, Seed, and Series A, Newchip offers three distinct six-month accelerator programs. Its vast network of strategic partners, global investors, and mentors has been guiding the company from team building, and prototype developments, to securing high-profile VC investment. Speaking on this development, Brian Lee, Head of Product at Newchip said:

Newchip evaluates a diverse number of companies across all industries from around the world, selecting a small percentage to join our accelerator. We see real potential in TangleHUB and are excited to integrate them into our global network of VCs, angel investors, and family offices seeking to invest in this particular space.

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TangleHUB’s flagship project PIPE

Amid the consistent failure of centralized platforms, the demand for decentralized storage solutions has been growing fast. With its open-source project PIPE, the software development company TangleHUB is accelerating the use of user-owned data networks.

The PIPE platform from TangleHUB works like an AirBnB for storing data. This means that anyone can rent out their storage space and store data in a safe and secure manner. PIPE’s unique architecture makes it as fast as some of the well-known cloud solutions like Amazon Web Services (AWS). Interestingly, this happens at the fraction of the cost charged by centralized platforms along with offering high-end quantum security.

The best thing about PIPE is that it offers very flexible data storage solutions. It can easily handle several data-heavy applications without any issues of congestion. Scalability, immutable data storage, and transfer, user-oriented design and performance, etc. are some of the key attributes of PIPE.

As said, TangleHUB has officially opened up its private BETA and is now accepting applications from interested parties. Speaking on the development, TangleHUB CFO Stan Scharnigg said:

We are excited to be part of the Newchip accelerator and look forward to advancing to the next level as we grow and scale in 2023. PIPE network has the ability to unlock decentralized storage’s true potential, and along with Newchip we are able to move quickly.

About Author

Bhushan is a FinTech enthusiast and holds a good flair for understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In his free time, he reads thriller fictions novels and sometimes explores his culinary skills.

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