Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Blockchain platform NuCypher closes a funding round of over $10.675 million led by capital market firm Polychain Capital.
Blockchain platform NuCypher has closed a professional staking funding round of more than $10.6Â million led by capital market firm Polychain Capital.
According to a blog post published by the company on Oct. 7, mining giant Bitmain, startup accelerator Y Combinator, blockchain development firm BitFury, Arrington XRP Capital and Notation Capital were among the participants. They purchased 8% of the initial supply of NU tokens in total.
Furthermore, the investors reportedly also agreed to stage-lock their tokens for two years, which the platform believes will guarantee âa high level of stability and professional service to the NuCypher network.â All the investors in question have also committed to run the NuCypherâs nodes.
Public testnet launch
In the same blog post, NuCypher also announced the launch of its public testnet â the Ethereum Görli network. Users can also request testnet tokens for staking in the companyâs Discord channel. The startup concludes:
âFrom here, we have a relatively clear road from public testnet to incentivized testnet to WorkLock token distribution to mainnet launch!â
According to company information website Crunchbase, NuCypher has obtained $15.9 million in funding so far and is developing a network that âgives developers a way to store, share, and manage private data on the publicâ networks.
As Cointelegraph recently reported, blockchain solution company Oneiro also secured a $5 million investment from Cosimo Ventures.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.