02/10/19 09:00 UTC-4

Ethereum SKALE network raises $17 million

According to a tweet from the SkaleLabs co-founder and technical director Konstantin Kladko, a new Ethereum SKALE project supported by NODENode
– is any computer that is connected to the Blockchain network. The etymology of the term: from the Latin "nodus", which translates as "node". Nodes are an important tool for creating new blocks in blockchain network. Details
, raised $17.1 million.  

Investments for the Ethereum SKALE project

Investments for Ethereum SKALE were represented by global venture capital firms, including Winklevoss Capital, Arrington XRP Capital, Blockchange, ConsenSys Labs and Multicoin Capital from the USA, as well as from Asia – Hashed (Korea), HashKey (Hong Kong) and Recruit. Holdings (Japan), which owns the work platforms and Glassdoor.

Interesting in the section: Binance Exchange made its first investment in China

SKALE Labs CEO Jack O'Holleran said:

“Funding was provided through a simple agreement on the sale of future tokens (SAFT). Last October, the firm raised about $10 million to sell SAFT. With such sales, an investment agreement is signed, providing them with access to the project at startup.”

According to O'Holleran, most of the funding will go towards preparing the network for launch, engineering work and improving security.

See also: "Ripple bought a crypto-firm from Iceland to expand payments"

#Ethereum #SKALE #investors

Editor: Yuliya Soroka