Radicle, a completely decentralized code repository has recently managed to raise $12 million in funding, along with the integration of its P-2-P network with ETH, and the launch of the RAD governance token. GitHub has now been replaced with a decentralized system for alliancing on open-source software. DC Repository Radicle Raises $12 Million Radicle announced on Thursday that it has raised $12 million in a funding round led by Galaxy and NFX, with the active involvement of ParaFi Capital, Electric Capital, and Placeholder. Additionally, Balaji Srinivasan, Meltem Demirors, and Naval Ravikant were involved. Since Morgan Beller, the Co-Creator of Libra left Facebook and joined the VC firm in September 2020, it is the very first investment in crypto from NFX. Eleftherios Diakomichalis, the Co-Founder of Radicle revealed that the evolving army of Web 3.0 creators is mismatched with Github, the centralized platform owned by Microsoft. As for the needs of these communities, they are better served by decentralized autonomous organizations controlling their code repositories. Diakomichalis released a statement in an interview about the infrastructure decentralized communities, that read, “We think about Radicle as infrastructure for decentralized communities.” He added: “When it comes to value, these communities are very used to interacting with value flows; think about things like DeFi protocols on Ethereum. So we are bringing these two worlds closer together – the code collaboration world with the world of DAOs – and this new financial infrastructure is being built on Ethereum.” Decentralized Code Alternative to Integrate P-2-P Network With ETH NFX’s Beller revealed the existing situation of Web 3 developers creating under the possibility of Web 2 censorship does not make much sense. Beller said in an interview: “It’s impossible to decentralize code ownership, which is kind of ironic when you compare this to Web 3 development.” Beller added: “Imagine the U.S. government, or any government, wants a repo to be taken down? It can go to Microsoft and say, ‘Take it down.’”
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