Boring Protocol
Makes a Web3 enabled dVPN.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | N/A | Angel | |
| Total Funding | 000k | ||
| USD | 2023 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Dealroom estimates
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Boring Protocol operates as a decentralized virtual private network (dVPN) and a peer-to-peer bandwidth marketplace, constructed on the Solana blockchain. Founded in 2021, the project aims to rectify the perceived flaws of traditional, centralized VPN services, such as a lack of transparency and insecure storage of user data. The protocol facilitates transactions between users seeking private internet access and providers who share their bandwidth, creating a marketplace for privacy.
The system is designed to provide economic incentives for node providers, who are compensated for their contribution to the network's infrastructure. This is achieved through the native utility token, BOP, which is used as the medium of exchange for all transactions within the protocol. Users pay for the bandwidth they consume, a model described as "pay-per-consumption," which contrasts with the monthly or yearly contracts of conventional VPNs. By leveraging the Solana network, Boring Protocol benefits from high throughput and low transaction costs, aiming to offer an efficient and secure internet connection.
A key feature of the protocol is its decentralized nature, which routes user traffic through a distributed network of nodes run by other users, rather than a central entity. This architecture enhances privacy and security by eliminating a single point of failure or control. Node providers can stake BOP tokens to prioritize their traffic and as a defense mechanism against certain network attacks. The project launched its dVPN service on the Solana blockchain and, in 2024, announced plans to seek a $2 million seed funding round to scale its operations and enhance its offerings.
Keywords: decentralized VPN, dVPN, peer-to-peer bandwidth market, Solana blockchain, BOP token, network privacy, internet security, node providers, pay-per-consumption VPN, crypto-incentivized network, blockchain privacy, secure internet access, decentralized infrastructure, bandwidth marketplace, online privacy, data protection, BOP utility token, Solana ecosystem, crypto VPN, censorship resistance