Blockchain
Blockchain Developer Monad Labs Raises $225M Led by Paradigm
The company is looking to offer an Ethereum-compatible environment that’s faster than the original.
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Monad Labs raised $225 million in a funding round led by Paradigm.
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The money will help in the development of its faster version of the Ethereum blockchain that is compatible with existing DeFi applications.
Monad Labs, which is looking to develop a faster version of the Ethereum blockchain, said it raised $225 million in a funding round led by Paradigm that will allow it to add staff and spend on bringing the test version of its blockchain into production.
The layer-1 blockchain is compatible with the Ethereum Virtual Machine (EVM) that executes the rules of Ethereum and makes sure submitted transactions and smart contracts follow the rules. More than 96% of the capital invested in decentralized finance (DeFi) is processed by the EVM, Monad said in a post on Substack.
However, while Ethereum processes fewer than 20 transactions per second, according to etherscan.io, Monad says its testnet, which went live in March, can handle some 10,000 TPS.
Ethereum’s speed, or lack of it, has spurred many efforts to provide a faster DeFi environment, including alternative layer-1 blockchains such as Solana and Cardano and layer-2 chains that bundle, or roll up, transactions and process them at a faster pace before sending them back to Ethereum for validation.
Monad said it rewrote the blockchain code, introducing techniques such as parallel execution to optimize performance at all levels of the protocol, to improve throughput.
Other investors in the round included Electric Capital, Castle Island Ventures, Animoca Ventures, Coinbase Ventures and CoinFund.
Source: coindesk.com
The post Blockchain Developer Monad Labs Raises $225M Led by Paradigm appeared first on HIPTHER Alerts.
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MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase
MicroStrategy has increased its Bitcoin holdings to 214,400 BTC with a recent purchase of $7.8 million worth of the cryptocurrency. This move further solidifies MicroStrategy’s position as a major institutional holder of Bitcoin and demonstrates its continued bullish outlook on the digital asset.
MicroStrategy, a publicly traded business intelligence firm, has been actively accumulating Bitcoin as part of its treasury strategy, viewing the cryptocurrency as a long-term store of value and hedge against inflation. The recent purchase of $7.8 million worth of Bitcoin adds to the company’s already substantial holdings, reaffirming its confidence in the future potential of the digital currency.
MicroStrategy’s ongoing accumulation of Bitcoin reflects a broader trend of institutional adoption and investment in the cryptocurrency space. As more companies recognize the value proposition of Bitcoin as a hedge against economic uncertainty and fiat currency devaluation, they are increasingly allocating funds to acquire and hold the digital asset.
Overall, MicroStrategy’s decision to boost its Bitcoin holdings with a $7.8 million purchase underscores the company’s conviction in the long-term viability and potential of Bitcoin as a strategic asset. This move is likely to further encourage other institutions to explore Bitcoin as a component of their investment portfolios, driving continued growth and adoption in the cryptocurrency market.
Source: crypto.news
The post MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase appeared first on HIPTHER Alerts.
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