Andreessen Horowitz’s A16z Crypto Fund Leads $102 Million Dfinity Blockchain Project Investment

Dfinity Gets $102 Million USD During Funding Round

Dfinity, a decentralized cloud startup company has recently raised the amount of $102 million USD from a funding round. According to reports from the media, a new branch of the Andreessen Horowitz’s venture capital firm, a16z, focused on crypto, and Polychain Capital have led the funding round for the project, which is based in Switzerland.

The goal of the project is to build a decentralized cloud computing platform using the blockchain technology. Other companies that invested in Dfinity include Multicoin Capital, Scalar Capital, SV Angel, Aspect Ventures, Village Global, Amino Capital, KR1 and some contributions from members of the community.

Dfinity Raises $200 Million USD In Total

According to the official information released by Dfinity, the company has now raised nearly $200 million USD. This includes a funding round that happened in February in which Andreessen Horowitz and Polychain also invested considerable sums of money.

The company announced earlier this year that it would airdrop about $35 million USD in DFN tokens to the community as a way to reward it, though individuals will not receive any tokens before the mainnet of the company is 100% live.

Company Plans to Launch a World Computer

Dfinity was planned to be accessible by the public and its release is scheduled to happen this year. The company is already running a testnet at this moment, but the next major update is to launch the mainnet itself.

The company hopes to launch a “world computer”, which is being referred to as “cloud 3.0” by team members. The idea is to create a truly scalable network that can be more efficient than Bitcoin’s proof of work system.

The network, in the best case scenario, would be able to host many services and will be open source, secure and cheap to use.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide