Swiss-based Anapaya Systems, a SCION technology provider, announced that it has secured €1.8M in funding from Mysten Labs, a US-based Web3 infrastructure technology company and the initial contributor to Sui blockchain, a pioneering Layer 1 blockchain and smart contract platform.
The two institutions mark the investment as the start of a partnership to build a secure, highly accessible, and high-performance Web3 infrastructure to strengthen the SCION next-generation internet.
Compared to the previous iterations of the World Wide Web, the Web3 environment uses trustless networks with decentralised applications with involvement from multiple parties. This unique characteristic allows Web3 to create a highly secure and accessible communication platform for everyone.
Evan Cheng, CEO and Co-Founder of Mysten Labs, says, “SCION’s highly secure and efficient communication fabric will provide yet another key differentiator for Sui, as we continue to prioritise the highest possible level of security.”
“Bringing better infrastructure to Web3 is why Mysten Labs stepped into the space in the first place, and we are glad to have the opportunity to do so with Anapaya,” adds Cheng.
Embracing the future internet
Industry experts continue to develop high-end internet infrastructure solutions to ensure users have better security and accessibility benefits when using the internet.
One such solution is the SCION, a modern future internet architecture capable of offering high availability and seamless point-to-point packet delivery despite the presence of malicious network devices and operators.
SCION emerged after the concept of “Future Internet” took off, where industry experts began developing new internet infrastructures to address existing concerns in the traditional internet.
While certain internet infrastructures, including the multiprotocol label switching (MPLS) routing technique, may alleviate some security concerns, its inflexibility discourages people from using MPLS on a wider scale.
To make a compromise between security and accessibility, SCION connects institutions and end users by combining explicit trust information, failure isolation, and route control with the accessibility benefits of the public internet and the security of private MPLS.
Safer Web3 infrastructure for partners
Industry veterans Adrian Perrig, David Basin, Peter Muller, and Samuel Hitz founded Anapaya Systems in 2017. Perrig had prior experience leading a team of researchers to solve existing flaws of the Border Gateway Protocol (BGP) by inventing a new network protocol.
Anapaya Systems received its name from the Sanskrit word Anapaya, meaning no obstacles, permanence, undiminished, and free from loss or decay.
With these principles, Anapaya seeks to ensure the sustainability and security of internet infrastructures through SCION. In particular, Anapaya Systems will expand the SCION network for Sui by setting standards for security, availability, and performance in Web3 communications.
Thus far, Anapaya Systems has collaborated with prominent institutions from Swiss National Bank, SIX, Swisscom, Sunrise, and SWITCH by delivering the Secure Swiss Finance Network (SSFN) to create the most secure and performant communication work for the financial industry.
The SCION technology provider offers secure Points-of-Presence (PoPs) in over 60 data centres worldwide, including Italy, France, Germany, Indonesia, Singapore, Hong Kong, and South Korea.