$3 Million Raised Towards Fair and Open Blockchain Infrastructure from Spacemesh

Spacemesh is a new blockchain company that intends to basically be the new Bitcoin. The company states that the creation of the original Bitcoin was a revolution but that almost a decade have already passed and cryptos are still only in the hands of a few people.

Cryptocurrency mining is causing damages to the environment and mining is becoming expensive. Because of this, a new revolution is needed.

How Does Spacemesh Work

Spacemesh wants to let anyone mint new coins from their own home computers instead of needing expensive mining machines like mining companies do. By using its own protocol that does not require the same computational power that Bitcoin requires, Spacemesh wants to create a new blockchain that will have an easier access.

By creating a low barrier of entry, enabling communities to create their own rules and trying to keep speculators out of the system, Spacemesh intends to create a platform that will really change how the blockchain technology and how wealth is distributed.

The company will use smart contracts and a protocol that was created to be highly decentralized and enable P2P blockchain transactions around the globe. The software of this company will be completely free and open source, meaning that you will have full access to it.

The main goals of the company are to have scalability enough so that it will not have issues when more people start to use this platform and to create ways to verify transactions that will not require means like mining because they not only spend a lot of money but they are also very bad for the environment.

This will translate into lower transactions fees, which is good because this way the platform will be able to attract more people to use it and continue to grow.

The Spacemesh Team

Curious to know more about the founding team of Spacemesh? The chief scientist of the project is Tal Moran. He is has a postdoc at Harvard and a PhD from the Weizmann Institute of Science. Another chief scientist that works in the company is Iddo Betov, he is a postdoc researcher at Cornell University and it the author of many academic papers on both cryptography and cryptocurrency.

Other important members of Spacemesh are Yosher Lutski (core platform developer), Yuval Zalmenson (software architect), Tomer Afek (co-founder), Rami Kasterstein (co-founder), Ifat Linur (head of operations) and Aviv Eyal (co-founder).

The company is also open to receiving new members, so you can participate in Spacemesh to help the company to develop and create something new. To apply, get in touch with the members of the project.

The Spacemesh Verdict

Spacemesh looks like a remarkable project. While its ambition to become the new Bitcoin is perhaps way too far fetched, this company has plenty of chances to really be able to obtain positive results.

There is no Initial Coin Offering (ICO) being made, as most of the money will be created on people’s computers, so you do not have to worry about investing in this company, which does alleviate some of the main preoccupations that this type of company can cause.

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