Blockchain expansion is booming, and CasperLabs has completed $14.5 million in Series A financing

CasperLabs is a startup that creates an open source blockchain platform with the goal of achieving network expansion without sacrificing decentralization. The company raised $14.5 million in Series A financing.

Money-1604921_1280

The current round of financing was led by Terren Piezer, a financier called Zerib, on Wall Street, through his privately held company, Acuitas Group Holdings. Arrington XRP Capital, Consensus Capital, Axiom Holdings Group, Digital Strategies, MW Partners, Blockchange Ventures, Hashkey Capital and Distributed Global also participated in the financing.

CasperLabs said in a statement on Tuesday that new funding will be used to accelerate product development and attract more engineers to join.

The startup was officially launched in February. Eladan Foundation researcher Vlad Zamfir served as chief consensus agreement architect. Vlad Zamfir received funding from Casper Labs but will not be an employee of the company. All of its research remains open source. . The goal is to create a new blockchain based on a PoS consensus protocol—specifically, Zamfir's “Design Period Correct (BC)” Casper PoS.

The company said it is working to address the "trilemma of scalability, decentralization and security, but it is also friendly to developers in building and running applications."

According to Mrinal Manohar, co-founder and CEO of ADA-based ADAPtive Holdings, CasperLabs expects to release several "interesting" technology updates in the coming months.

Leading agent Piezer said:

“From the beginning of the cryptocurrency and blockchain, I have been focusing on and researching the cryptocurrency and blockchain areas. I have been waiting for a company that can build on the speed, security and scalability of next-generation platforms. A strong, decentralized public chain."

“The scalability of products and companies is the main driver of value creation. The largest companies have always been industry leaders.”

Financing scale is lower than early expectations

However, it is worth noting that, according to blockchain media The Block reported in January this year, CasperLabs CEO Mrinal Manohar said in an interview that the company has received a $20 million financing commitment, Galaxy Digital and BlockTower have promised to participate in it. A round of financing. However, according to the information released this time, the two institutions did not appear on the list of participants, and the scale of this round of financing is also lower than the previously announced 20 million US dollars.

Cooperation with blockchain companies supported by the automotive industry Hyundai Group

In July of this year, HDAC Technology and CasperLabs, a blockchain company supported by Automotive Modern Group, announced a strategic partnership to jointly develop and develop consensus mechanisms and seamless integration between HDAC and CasperLabs blockchain.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Raise $130 million! Encrypted exchange INX will issue securities tokens via IPO

According to Coindesk's August 20 report, the incremental exchange startup INX Limited plans to raise $129.5 mil...

Blockchain

ChainNode Live Room | Derivatives track has become an industry consensus. Bitcoin will be up to $ 20,000 in the year?

Since the beginning of this year, the trading platform has frequently acted, causing one after another "destruct...

Blockchain

Long Push Receiving 1 million ARB airdrop, Summary and Reflections on 2 Years in the Circle

Note This article is from @0xfarmer_ on Twitter, summarized by MarsBit as follows Time flies. I have finished my subs...

Blockchain

Observation | OKEx triggers "destruction war", why is absolute deflation worth learning in the currency circle?

Text | Popsicle Editing | Bi Tongtong Sources | PANews Just now, OKEx issued the destruction announcement again, and ...

Blockchain

Hackers are getting smarter, with the largest number of exchange attacks ever in 2019

Source | bitcoinmagazine Translation | Huohuo Sauce Production | Blockchain Camp (ID: blockchain_camp) Currently, maj...

Blockchain

Guide to secure deposits: How to better hide the Bitcoin in your hands?

In an era of constant economic uncertainty, surveillance, professional cybercrime, and hacking, knowing how to more s...