CIOTechie_Blockchain_BFSI_Cosmos-Network_Tendermint

Blockchain Consensus Platform Tendermint Hoists USD9 Million In Series A Funding Round For Cosmos Network

BFSI News

Blockchain_Consensus-Platform-Tendermint-Hoists-USD9-Million-In-Series-A-Funding-Round-For-Cosmos-Network Blockchain Consensus Platform Tendermint Hoists USD9 Million In Series A Funding Round For Cosmos NetworkTendermint, A Blockchain Consensus Algorithm, And Peer-To-Peer Networking Protocol, Has Bagged USD9 Million In Series A Funding Round To Support Of Further Development Of The Cosmos Network And Its Ecosystem. The Fund Was Led By Cryptocurrency-Based Investment Firm Paradigm, Along With Investors From Bain Capital And 1confirmation Among Others.

As Part Of The Funds Will Reportedly Be Allocated To Support Further Development Of The Cosmos Network And Its Ecosystem, Tendermint Also Plans To Invest The Funds On The Doubling The Numbers Of Staff And Creating A Sustainable Business Model. This Funding Round Follows The Launch Of Cosmos Hub Maninnet, The Internet Of Blockchains, Which Was Introduced Earlier This Week, Developed By Tendermint. The Cosmos, Developers Considered That May Contribute To Solving Scalability Of Blockchain And Interoperability Issues. Bain Capital’s Salil Deshpande Said That “We Envision A Future Where Multiple Blockchains Serve Specific UUse-Cases, Store Of Value, Privacy, General Purpose Smart Contract Platforms, And Many Others. In This Future, Interoperability Solutions Provide Crucial Alchemy That Could Lead To An Explosion Of Blockchain Applications, As Well As Boosting Usage On Existing Chains.”

As Per The News Reports, Cosmos Hub Will Further Pass Two More Phases, As The Recent Launch Was The First In A Series Of Proof-Of-Stake Chains Developed By Tendermint. It Was Also Reported That Tendermint Supports Leading Cryptocurrency Exchange Binance’s Decentralized Digital Currency Exchange. CEO Of Binance, Changpeng Zhao Said That Binance Chain Is Based On The Tendermint Protocol And Runs On A Delegated-Proof-Of-Stake (Dpos) Consensus Algorithm.