Blockstack

Blockstack

Blockstack is a full stack internet platform for building decentralized apps.

Blockstack (previously Onename) is a full stack internet platform for building decentralized apps wherein the users own and control their own data. It aims to bring privacy and property rights to cyberspace and give back the control over the internet back to its users. Blockstack is a network for decentralized applications. Blockstack aims to address the centralization at the application-layer of the internet. More specifically, Blockstack builds an alternate DNS and alternate public-key infrastructure. It's the first implementation of a decentralized DNS system on top of the Bitcoin blockchain. It combines DNS functionality with public key infrastructure and is primarily meant to be used by new blockchain applications. Blockstack is being developed by a group of engineers and researchers coming from both industry and academia and is released as open-source. Other systems like Namecoin have implemented decentralized DNS using blockchains earlier by using blockchains other than Bitcoin. Blockstack became operational on the Bitcoin blockchain in September 2015. As of March 2016, Blockstack was the largest non-financial system using the Bitcoin blockchain by transaction volume. In May 2017, at CoinDesk's "Consensus 2017" blockchain conference in New York, Blockstack released a decentralized browser add-on, described as "a kind of Netscape for the decentralized internet, running apps on a plethora of blockchains". The purpose of this add-on is to allow developers to use Blockstack's tools (decentralized identity, storage, and payments) to "create consumer-facing apps". The add-on works with any browser, including Chrome, Safari, and Firefox.

Blockstack has built an alternate DNS and alternate public-key infrastructure. It's the first implementation of a decentralized DNS system on top of the Bitcoin blockchain. It combines DNS functionality with public key infrastructure and is primarily meant to be used by new blockchain applications. Blockstack is released as open-source. Blockstack became operational on the Bitcoin blockchain in September 2015. As of March 2016, Blockstack was the largest non-financial system using the Bitcoin blockchain by transaction volume.

Funding

Founded in 2013 as Onename, Blockstack Inc. raised $5.45 million venture capital from a number of major players, including Union Square Ventures, AngelList founder Naval Ravikant, and Digital Currency Group.

In September 2017, Blockstack Inc. converted itself into a Public Benefit Corporation, switching from Blockstack Inc. to Blockstack PBC. In December 2017, Blockstack PBC raised $50 million from the sale of a token.

Timeline

July 11, 2019

SEC approves 1st consumer RegA+ token Props for cross-app rewards

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Blockstack Series A Funding Round 2017
4,000,000
January 9, 2017
2 Results
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People

Name
Role
LinkedIn

Muneeb Ali

Founder

Ryan Shea

Founder

Further reading

Title
Author
Link
Type
Date

Blockstack Releases Blockchain-Powered, Tokenized Internet Browser

Michael del Castillo

Onename | Union Square Ventures

Albert Wenger

White Paper

Muneeb Ali, Ryan Shea, Jude Nelson, Michael J. Freedman

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Josh Constine
July 11, 2019
TechCrunch
After cracking down on ICOs, the SEC just okayed the first two RegA+ tokens that offer an alternative way for anyone to gain a financial stake in a company, even unaccredited investors. Blockstack got approved for a $28 million digital token sale to raise money, while influencer live streaming app YouNow's spin-off Props received a formal [...]

References

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