Koinos announces $500K seed round led by Blockchain Founders Fund

  • Koinos is a free-to-use blockchain developed by a group that also helped create the Steem blockchain.
  • The Koinos Group said the Blockchain Founders Fund led the seed round, with blockchain gaming platform Splinterlands participating.
  • Koinos will use the funds to build Koinos Pro, a software product set to help developers build scalable decentralised applications.

In the latest cryptocurrency news, Koinos Group, the developer of the free-to-use blockchain Koinos, has announced a $500,000 seed round.

Blockchain Founders Fund leads Koinos seed round

According to a press release CoinJournal obtained on Thursday, Singapore-based early stage industry-focused venture fund the Blockchain Founders Fund led the seed round. The round also saw the participation of blockchain gaming firm Splinterlands.

Blockchain Founders Fund is demonstrating leadership in the space as a whole by committing funds to a company whose entire business model is based on supporting a truly decentralised platform,as opposed to a platform that is decentralised in name alone,”said  Koinos Group CEO Andrew Levine.

The Koinos Group will use the funds to develop Koinos Pro, a subscription product that allows developers to release highly scalable decentralised applications (dApps). In a tweet on Thursday, the platform said Koinos Pro is a software that will help completely remove entry barriers to the dApps ecosystem.

 

Already, the Koinos blockchain allows developers to build and launch free-to-use dApps in any programming language, which means users can access high-performance apps as easily as is currently within the Web2 ecosystem.

Founded in 2020, the Koinos Group is a project overseen by several blockchain veterans – including a core developer group of the Steem blockchain.

The funding round comes just over two months after the Koinos mainnet went live, notably without involving an initial coin offering (ICO), pre-mine or airdrop to insiders and such. Koinos’ “Mana” system enables people without the native KOIN token to still access the blockchain.

All Dutch and English crypto news!

El Salvador’s Bitcoin City wins architectural design award

El Salvador is the first country that recognised Bitcoin as legal tender. Bitcoin City has been recognised as a sustainable and highly efficient project. El Salvador is...

FTX legal team calls for Sam Bankman-Fried’s family to answer questions under oath: Report

Lawyers representing FTX in bankruptcy court have reportedly argued that former CEO Sam Bankman-Fried's immediate family should face questioning regarding their personal wealth. According to a...

Aave purchases 2.7M CRV to clear bad debt following failed Eisenberg attack

According to a new post on Jan. 26, Marc Zeller integrations lead at decentralized finance (DeFi) lending protocol Aave stated that the firm purchased 2.7...

US Justice Department seizes website of prolific ransomware gang Hive

Zhiyuan Sun 7 minutes ago The group is known to have targeted critical infrastructure, healthcare providers, and more over the past two years. 60 Total views Listen to article Breaking...

Beste exchanges

Koop je crypto bij Bitvavo