Layer 1 blockchain project Aptos (APT) and Jump Trading's subsidiary Jump Crypto announced that they have developed a high-performance hot storage network named 'Shelby'.
Following this announcement, the price of the APT token rose by 20% today.
According to the press release, Shelby aims to offer developers a decentralized storage solution that operates at cloud speeds for applications such as video streaming, social media timelines, artificial intelligence data streams, and decentralized physical infrastructures (DePIN).
Shelby is positioned as a decentralized protocol built on verifiable data streams. While Aptos Labs develops user-focused blockchain infrastructures with its experienced team from large tech companies like Meta, Jump Crypto applies its expertise in high-frequency trading systems to low-latency data access and parallel data streaming.
The aim of this collaboration is to combine the advantages of blockchain transparency and reliability with the speed of traditional applications. This innovation stands out, especially considering the challenges faced by blockchain-based social media and publishing platforms in reaching large user bases. For example, the social-finance platform Friendtech, which gained significant attention in 2023 but lost its popularity after the token launch in 2024 due to technical problems and slowness, exemplifies such issues.
Shelby differentiates itself from previous decentralized storage solutions by offering nearly instantaneous response times with its 'hot' data processing infrastructure. Pranav Raval, the engineering lead at Aptos, stated the following on the matter:
"Current platforms make money for users through content, data, and followers. Shelby fundamentally changes this model. While providing Web2 speed, it gives content creators full control over pricing, access, and revenue models. This is not just a technical innovation, but also offers a new business model."
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