ThunderCore Secures $50 Million For Platform Improvements And Implementation Of Blockchain
ThunderCore Raises $50 Million, Aimed To Be Used Towards Developer Platform Improvements And Implementation Of Blockchain Technology
Blockchain technology has a way of expanding to other industries and companies, primarily due to the security and transparency it offers in various transactions. Recently, leading tech company ThunderCore decided to host a funding around, which brought in $50 million to be used towards the implementation of a distributed ledger to further their efforts towards secure transactions, according to a press release from BusinessWire on February 28th.
The investors that contributed to ThunderCore include: Pantera, Huobi Capital, MetaStable, ZhenFund, Electric Capital, Arrington XRP Capital, FBG, Hashed, Kinetic, and SV Angel. These investors primarily got involved with the funding round as a result of their significant ties with the blockchain industry, which will help in ThunderCore’s to continue to “improve its nimble platform for the decentralized app developer community, addressing their increasing need for secure, fair and transparent transactions via distributed ledger technology,” says the press release.
ThunderCore’s team is run primarily by co-founder and CEO Chris Wang, along with co-founder and chief scientist Elaine Shi. While Wang has been responsible for the development of gaming company Playdom, Shi is an associate professor of computer science at Cornell University, and she was the first individual to write an academic research paper on both Bitcoin and decentralized smart contracts.
A hybrid consensus mechanism is the center of ThunderCore, aiming to improve blockchain technology. The use of this algorithm makes it possible for developers to keep the compatibility of their work with Ethereum, while perpetuating growth on the platform. This company focuses much of its efforts on meeting the needs of the developer community by gaining feedback and other data on the way that developers use the platform, continually working to support their work.
Michael Arrington, the founder of TechCrunch and a partner of Arrington XRP Capital, said in the press release,
“ThunderCore is well-positioned for long-term prosperity due to its sustained focus on scalability and its profound, mutually-beneficial relationship with developers. We’re thrilled to be on board as the ThunderCore vision and solution lead the industry into the future.”
Adding to those comments, Wang said,
“ From the start of this project, our team has worked tirelessly to ensure we are building the most thoroughly-researched and best-performing product on the market while maintaining a level of user-friendliness that appeals to the masses. We are incredibly fortunate to work with a talented roster of scientists and researchers who have made immeasurable strides in bringing blockchain to the forefront of innovation. With this new inflow of funding, we will be able to broaden our offerings and bring on additional staff, thus opening the door to even more possibilities.”
The testnet for ThunderCore is already live, and anyone that wants to participate on the platform can visit https://www.thundercore.com/. The mainnet launch date has yet to be announced through social media, but the roadmap on the official website shows that the mainnet will be launched sometime in the first quarter of this year.