COBINHOOD’s DEXON Decentralized Exchange Gets $20 Million Investment Led by IDG Capital
$20 Million Boost To Help Build COBINHOOD’s DEXON Exchange
The new decentralized exchange DEXON just received an additional $20 million in private equity from IDG Capital. The venture firm is responsible for more than $20 billion in assets, including more than 150 million successful exits as well as portfolio companies.
COBINHOOD, the company responsible for DEXON leads the way for the new cryptocurrency exchange platform that holds a zero-fee foundation. The exchange was launched in December of 2017, and with the new DEXON investment of $20 million by IDG, the exchange will be able to improve its technology and create one of the fastest decentralized protocols in the world.
There is a clear need for faster protocols; it’s one of the two most substantial problems the industry has seen. Investors want to look at transaction speeds on par with the likes of VISA and Mastercard as well as the same scalability. One way to do so is to partner with these larger financial entities, which is now possible with the computing power of decentralized networks. They are now equivalent to that of a centralized system, giving them more abilities that have been seen in the past. Most protocols outside of DEXON can only handle a few transactions a second while staying secure. The new protocol should bridge the gap between cryptocurrency and traditional CC companies.
DEXON has also released news on transaction times of 50 blocks per second with an associated 25 nodes. That is somewhere in the realm of one million per second with an average size of 100 bytes. Blocklattace is the infrastructure that works in conjunction with their algorithm to make the decentralized transaction speeds possible. The purpose has been to create a system that is applicable in the real world, not just in theory. There are now several of these blockchains in operation, which means scaling is no longer an issue.
The new system is pushing DEXON to become the fastest mainstream blockchain in the world, not to mention the first there is. The scalability is the main reason the system will take off for mainstream usage, and with successful tests, no one can argue the ability that DEXON will have over the next few years.