On November 14th, a well-known startup company announced that it has won the favor of Winklevoss Capital, Galaxy Digital and Coinbase Ventures, three well-known investment institutions in the field of cryptocurrency, and completed funding of $1.81 million in seed round financing. The San Francisco startup, called Bitski, is building developer tools for blockchain-oriented developers. The company's flagship product is an easy-to-integrate cryptocurrency wallet for the Ethereum ecosystem, enabling applications to provide wallet support for their users.
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$1.81 million to help people create products on the blockchain
Bitni CEO and co-founder Donnie Dinch said the company will use the $1.81 million in funding to help people grow on the blockchain. He added that the startup has received $3.54 million in funding from fundraising activities, including a pre-plant financing in 2018.
Bitski focuses on the game industry
Bitski announced that its products have been used by two game development studios, a YouNow platform for live broadcasts and a sports betting site based on Ethereum. Dinch said there are many interesting projects for core cryptocurrency consumers, but they are currently focusing on games and are currently focusing on the mainstream.
Sterling Witzke of Winklevoss Capital expressed support for Bitski. Sterling Witzke, a partner at Bitski from Winskivoss Capital, said:
“We are excited about Bitski's ability to help catalyze the next wave of integrating blockchain into its products.”
Dinch explained that the wallet's UX is simple and offers the option of weighing self-hosting, and most users may prefer to have third parties handle their management. He added that the technology used to store wallet functionality is used with the Hardware Security Module (HSM) from the Biometric Security data center.
The interaction between the mainstream and the blockchain has become simple
Robert Leshner participated in the Bitski seed round financing through the Robot Ventures fund. He said the startup could dramatically improve the experience of new encrypted users. He added that public key cryptography is the foundation of the application ecosystem being developed, but mainstream users have encountered problems when experiencing it. In an email sent to Coindesk, he said,
“Bitski is the necessary experiment to (re)imagize how we interact with the blockchain. They eliminate the hassle and difficulty of wallet management while preserving security and improving portability.”