Mina Ecosystem Raises Money Through Token Sale, Aims to Enhance Privacy for Blockchain
Posted on 03/18/2022
The Mina Ecosystem is a Layer 1 blockchain protocol. The Mina Ecosystem raised US$ 92 million through a coin (token) sale led by FTX Ventures and Three Arrows Capital and were joined by investors including Alan Howard, Amber Group, Blockchain.com, Brevan Howard, Circle Ventures, Finality Capital Partners, Pantera, and others. Three Arrows Capital co-led O(1) Labs’ US$ 10.9 million fundraise in October 2020. O(1) Labs is one of the development teams behind the Mina protocol.
The money will be used to attract more software developers. The Mina Ecosystem is a group representing several teams behind the privacy-focused blockchain protocol Mina. The Mina Ecosystem is a collective involving several groups, including the Mina Foundation, Evan Shapiro, CEO of the Mina Foundation.
The price of one MINA token is currently around US$ 1.80.
In cryptography, a zero-knowledge proof or zero-knowledge protocol is a method by which one party can prove to another party that a given statement is true while the prover avoids conveying any additional information apart from the fact that the statement is indeed true.
Optimism
New York-based Optimism PBC, a public benefit corporation, is a layer 2 blockchain on Ethereum aiming to reduce transaction costs and speed up the network. Optimism raised US$ 150 million in Series B funding led by a16z Crypto and Paradigm. This give the company a valuation of US$ 1.65 billion.
Web3 evangelists see a decentralized future that moves along the Ethereum network. Users and investors want to construct another layer to reduce costs and increases speed.
Polygon
Formerly known as Matic Network, Polygon improves the functionality of the Ethereum blockchain by drastically increasing its network scalability and overall transaction speed. Polygon uses its own Proof-of-Stake (PoS) blockchain and Commit Chain connectivity to help scale the Ethereum network, and seeks to solve inefficiencies that may hinder widespread adoption of blockchain technology. Polygon is a Layer-2 scaling solution created to help bring mass adoption to the Ethereum platform. Polygon surpassed Ethereum in terms of daily active users at the end of 2021. Polygon has allocated US$ 1 billion for developing zero-knowledge technology
Keywords: Andreessen Horowitz, Brevan Howard Asset Management LLP.