U.S. markets open in 3 hours 22 minutes
  • S&P Futures

    4,323.25
    -18.25 (-0.42%)
     
  • Dow Futures

    33,925.00
    -130.00 (-0.38%)
     
  • Nasdaq Futures

    14,084.75
    -73.75 (-0.52%)
     
  • Russell 2000 Futures

    1,957.60
    -15.10 (-0.77%)
     
  • Crude Oil

    87.33
    -0.02 (-0.02%)
     
  • Gold

    1,810.90
    -18.80 (-1.03%)
     
  • Silver

    23.22
    -0.59 (-2.49%)
     
  • EUR/USD

    1.1192
    -0.0053 (-0.47%)
     
  • 10-Yr Bond

    1.8480
    0.0000 (0.00%)
     
  • Vix

    31.18
    +0.02 (+0.06%)
     
  • GBP/USD

    1.3402
    -0.0060 (-0.45%)
     
  • USD/JPY

    115.1990
    +0.5390 (+0.47%)
     
  • BTC-USD

    36,387.76
    -1,582.13 (-4.17%)
     
  • CMC Crypto 200

    829.61
    -26.20 (-3.06%)
     
  • FTSE 100

    7,494.43
    +24.65 (+0.33%)
     
  • Nikkei 225

    26,170.30
    -841.03 (-3.11%)
     

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.