UK markets closed
  • NIKKEI 225

    27,999.96
    -249.28 (-0.88%)
     
  • HANG SENG

    20,003.44
    -42.33 (-0.21%)
     
  • CRUDE OIL

    90.17
    -0.59 (-0.65%)
     
  • GOLD FUTURES

    1,812.70
    +7.50 (+0.42%)
     
  • DOW

    32,786.01
    -46.53 (-0.14%)
     
  • BTC-GBP

    19,068.75
    -797.22 (-4.01%)
     
  • CMC Crypto 200

    534.48
    -22.87 (-4.10%)
     
  • ^IXIC

    12,451.52
    -192.94 (-1.53%)
     
  • ^FTAS

    4,129.39
    -3.43 (-0.08%)
     

Blockchain startup Harmony raises $18 million

Harmony has raised $18 million in its token pre-sale, CoinDesk reports. The company got funds from a number of investors, including Lemniscap VC, BCA Fund, UniValues Associates, and Consensus Capital.The post Blockchain startup Harmony raises $18 million appeared first on The Block.

Harmony has raised $18 million in its token pre-sale, CoinDesk reports. The company got funds from a number of investors, including Lemniscap VC, BCA Fund, UniValues Associates, and Consensus Capital. According to Harmony co-founder, the sale was the only means to get the funding compliant to the company’s “long-term vision...to create a decentralized protocol.”

Harmony is planning the launch with a pre-mine of 12.6 billion tokens, CoinDesk writes. Currently, a bit over 2.8 billion tokens has been bought by the investors. The rest may be used as incentives to early adopters of the Harmony blockchain. When the network launches, proof-of-stake nodes “will be compensated with an as-yet-undetermined rate of inflation.” With time, the inflation rate should decrease.

The Harmony blockchain has been built to support DApps built for Ethereum. It promises a better experience to Ethereum blockchain. It uses deep sharding, a process that puts different types of calculations on different shards.

The company hopes to attract all DApps with traction; according to Nick White, Harmony’s co-founder, thanks to the protocol Harmony built and open-source smart contracts, Harmony will be able to make porting “practically frictionless.”

“We are building a scalable, high-throughput, low-cost, fast-finality blockchain,” White said.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting