Bundlr is building the future of data storage by bringing the speed and ease of web2 to web3 technology. Bundlr proposes a decentralized storage scaling platform, powered by Arweave. Bundlr makes it easy for developers and businesses to store their data permanently, for just a one-time fee.
Bundlr Network comprises nodes, which are used to bundle multiple layer 2 transactions into a single Arweave (layer 1) transaction. Each will periodically submit these bundles to the main Arweave network. Once a user submits a valid transaction to a bundler, they receive a receipt which acts as a financial commitment that the data will be seeded on layer 1 within an n number of blocks (where n is defined in the receipt). Seeding is handled automatically by Bundlr. Validators ensure data is uploaded correctly, by the block cutoff period defined in the receipt.
$BNDLR is the token used on Bundlr in order to:
- Provide node incentives
- Facilitating network governance
Bundlr allows anyone to stake $BNDLR.
Bundlr has announced a $5.2 million funding round for its bid to help scale up blockchain storage solution Arweave.
Bundlr’s funding round was led by Framework Ventures, Hypersphere Ventures and Permanent Ventures, and it also saw participation from OpenSea and Race Capital.