CasperLabs, a startup building an open-source blockchain platform aimed to achieve scale without sacrificing decentralization, has raised $14.5 million in a Series A funding round.
The round was led by financier Terren Piezer - known as the "Zelig of Wall Street" - via his personal holding company, Acuitas Group Holdings.
CasperLabs said in an announcement on Tuesday that the new funds will be used to speed up product development and bring more engineers on board.
The startup launched in February with Ethereum Foundation researcher Vlad Zamfir serving as lead consensus protocol architect.
The project aims to build a new blockchain based on a version of proof-of-stake consensus protocol - specifically Zamfir's Correct-by-Construction Casper PoS. The firm said it is working to solve the "'trilemma' of scale, decentralization, and security, but is also developer-friendly to build and operate apps.
CasperLabs anticipates issuing several "Interesting" technical updates in the coming months, according to Mrinal Manohar co-founder and CEO of CasperLabs' parent firm ADAPtive Holdings.
"Scalability of a product and company is the leading driver of value creation. Consistently, the most proficiently scalable company becomes the industry leader."
Acuitas, Arrington XRP Capital Back $14.5 Million Series A for CasperLabs
Published on Sep 10, 2019
by Coindesk | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.