In 2016, Robert Binning and James Baggett patented a secure method for distributing files in distributed filesystems (see here), and in 2017 joined with Hari Murugesan to build this network under the name Split Media in Austin, TX. We began by creating a blockchain project for video content distribution on top of this network, called StreamSpace. Video streaming represents the majority of all content distributed across the Internet, and new formats such as 8K and VR, as well as game streams, are only helping to accelerate the amount of content consumers desire to watch or interact with.
In January-March 2018, StreamSpace conducted its ICO, raising about $3 million from over 5000 participants. The StreamShare tokens were quickly accepted for trading on Etherdelta and Yobit exchanges. Between 2018 and 2019, StreamSpace demonstrated the ability to share content across a decentralized network of peer servers, and the company architected a decentralized content distribution network which could serve its initial target audience of independent filmmakers. A strategic reset in 2019 expanded our initial focus on digital "films" to a broader target market for rich content distribution.
In July 2020, StreamSpace changed its name to SWRM Labs in recognition of the new market strategy, changed the token name to SWRM Coin, and introduced the Hive as a two-tier distribution network of backbone servers (which hold all served content) and peer edge nodes (with storage capacity typically under 1 TB, adequate for hundreds of large files). SWRM Labs exited stealth mode and began publicly recruiting peer storage contributors for its beta service, adding bonus token payments for early Hivers in late September. With Hive version 1.0.19 (November 2020), SWRM Labs supports Dynamic DNS and JS content, critical feature requirements for broad acceptance. In May of 2021, SWRM Labs began its transition out of beta and introduced staking, liquidity providing, and Hive performance rewards.