Huddle01, a blockchain-powered video conferencing platform, aims to challenge Zoom and Google Meet by offering lower latency, privacy, and decentralization through a $37 million node sale, with its first sale starting in early November.
Huddle01, a blockchain-based video conferencing project, is gearing up to compete with platforms like Zoom and Google Meet by leveraging decentralized technology to deliver faster, more secure, and censorship-resistant virtual meetings. The project plans to raise up to $37 million through the sale of network nodes, positioning itself as a Web3-powered solution to lower latency and improve global connectivity.
Decentralizing Communication with Media Nodes
Huddle01 is built on the Ethereum layer-2 Arbitrum network, using Arbitrum’s Orbit software stack to form what they call the “dRTC Chain” — a decentralized platform specifically designed for real-time communication. The company plans to sell 49,600 “media nodes,” which will allow operators to contribute excess internet bandwidth to the network. In return, these operators will earn HUDL tokens as rewards for helping power the decentralized infrastructure.
The first round of node sales, totaling $8 million, will begin on November 6, 2024, for whitelisted buyers, with a public sale on November 8. If successful, additional rounds of node sales could bring the total raised to $37 million. A test network for the platform will be launched two weeks after the sale concludes, aiming to demonstrate the improved latency that the decentralized setup offers.
Outperforming Competitors on Latency
One of Huddle01’s key selling points is its superior latency compared to Web2 competitors. According to CEO Ayush Ranjan, Huddle01 has achieved a latency of 13 milliseconds in New York City, outperforming Google Meet (141 milliseconds) and even Zoom (20 milliseconds). The company’s focus is on reducing global lags and providing high-speed connectivity across regions with a dense node cluster.
In addition to the technical benefits, the decentralized nature of the platform aims to eliminate the centralized control that major corporations like Zoom and Google exert over pricing and data management. This shift could lead to a more democratic, cost-effective, and flexible system for global communication.
The Growing Trend of Node Sales for Blockchain Projects
Huddle01 isn’t the only blockchain project to use node sales as a method of fundraising and network decentralization. Earlier in 2024, decentralized GPU cloud provider Aethir raised $126 million in ether (ETH) through a similar strategy. Other projects like CARV, XAI Games, and Powerloom have followed suit, highlighting the increasing popularity of this approach.
With blockchain technology offering enhanced security, privacy, and the ability to resist censorship, projects like Huddle01 are trying to position themselves as the next frontier in real-time digital communications. Huddle01’s “token-gated rooms” are another innovation that sets it apart, allowing access to virtual meeting spaces only for holders of specific tokens or NFTs on Ethereum or Solana.
Challenges and Potential Impact
While the decentralization of real-time communications sounds promising, the success of Huddle01 will depend on its ability to scale, attract users, and navigate the complex regulatory environment surrounding blockchain-based services. If successful, it could set a precedent for other industries, showing how decentralized technologies can offer more secure, flexible, and affordable alternatives to established Web2 services.
Disclosure: This article is for informational purposes only and does not constitute financial or investment advice. Readers should conduct their own research or consult financial professionals before participating in any token sales or investments.