ThunderCore Raises $50 Million in Funding; Develops Protocol Enabling Lightning Fast Transactions on Blockchain Platform
SUNNYVALE, Calif.--(BUSINESS WIRE)--Feb 28, 2019--ThunderCore, a leading technology company specializing in decentralized solutions, today announced a successful raise of $50 million. The company, which developed an optimized protocol delivering swift and scalable blockchain transactions on its proprietary platform, accepted funds from several recognized investors in the U.S. and Asia, including: Pantera, Huobi Capital, MetaStable, ZhenFund, Electric Capital, Arrington XRP Capital, FBG, Hashed, Kinetic, SV Angel. With deep connections and substantial experience in the blockchain arena, ThunderCore’s investors will enable the company to further build and improve its nimble platform for the decentralized app developer community, addressing their increasing need for secure, fair and transparent transactions via distributed ledger technology.
With a successful track record and pioneering blockchain research credentials, the ThunderCore team is led by co-founder and CEO Chris Wang, who holds a doctorate in computer science from Carnegie Mellon University and co-founder and Chief Scientist, Elaine Shi, who wrote the first academic research paper on both Bitcoin and decentralized smart contracts. Among his myriad accomplishments, Chris started gaming company Playdom, which was acquired by Disney for $532 million. As well as her duties at ThunderCore, Elaine is also an associate professor of computer science at Cornell University.
ThunderCore’s protocol offers users, and developers in particular, a simple and elegant solution to improving blockchain as a whole. The platform utilizes a hybrid consensus mechanism, with an optimized fast path, enabling developers to easily and conveniently build on the platform while maintaining Ethereum compatibility. Constructed with the developer community’s needs at the forefront, ThunderCore collects feedback, data and insights on how developers use the platform, and how they can better support them in building decentralized apps (DApps).
“ThunderCore is well-positioned for long-term prosperity due to its sustained focus on scalability and its profound, mutually-beneficial relationship with developers,” said Michael Arrington, founder of TechCrunch and partner at Arrington XRP Capital. “We’re thrilled to be on board as the ThunderCore vision and solution leads the industry into the future.”
The beauty of ThunderCore lies in its rapid and extremely simple protocol. Every step is fully specified and backed by rigorous mathematical proofs that combine high performance with decentralized trust. Consensus nodes complete a single round of voting to confirm transactions in under a second, and the accelerator - a robust, DDoS-resilient distributed system - coordinates the network of consensus nodes.
“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,” said Chris Wang, co-founder and CEO of ThunderCore . “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.”
Interested parties can access ThunderCore’s Testnet now, while the company prepares for the launch of its Mainnet.
Developed by industry leading experts, ThunderCore is its own blockchain with its own native cryptocurrency. It is Ethereum virtual machine compatible with throughput of 1,200 plus transactions per second, sub-second confirmation times and low gas costs, making it quick and easy for decentralized apps to deploy and scale.
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PUB: 02/28/2019 09:00 AM/DISC: 02/28/2019 09:01 AM