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Bitcoin mining giant Bitfury is now in the enterprise blockchain business

Yilun Cheng

Bitcoin mining company Bitfury just released blockchain software Exonum Enterprise to help corporations more efficiently build their own private blockchain projects.

Founded in 2011, the Amsterdam-headquartered company established its brand name by selling bitcoin miners, which allow enterprise clients to run on either cloud-computing servers or traditional on-premise servers. In 2017, the company launched an open-source piece of software called Exonum, which lets anyone design and run permissioned blockchains similar to Bitcoin at zero cost. Bitfury’s hardware and software solutions attracted wide interest from investors. In November 2018, It secured a private placement investment of $80 million led by Paris-based venture capital firm Korelya Capital, bringing its total raised to $170 million.

Bitfury’s new product is the enterprise version of Exonum and targets big corporations and governmental agencies. According to Bitfury’s press release, Exonum Enterprise can process up to 5,000 transactions per second. Clients can use the framework to launch blockchain projects in as little as five minutes and use its full-service dashboard to track blockchain deployments.

“Blockchain is unparalleled in its ability to streamline operations, but its premier benefit to our world is its transparency and security,” said Bitfury CEO Valery Vavilov. “The Exonum Enterprise platform will further the adoption of blockchain, helping make our institutions more trusted and in turn improving the lives of people all around the world.”