The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
All Alt Coin

Solana Labs Announces $314 Million Fundraise from Polychain Capital and Andreessen Horowitz

by Miki 06/10/2021
by Miki 06/10/2021 0 comment

Solana will use these funds to expand its blockchain ecosystem. It plans to have its own venture capital arm besides having its dedicated trading desk.

On Wednesday, June 9, Solana blockchain developer Solana Labs announced a $314 million fundraise in the private token sale. Solana said that it will use this fundraise to build a decentralized finance (DeFi) ecosystem atop the Solana blockchain network.

Giants like Polychain Capital and Andreessen Horowitz led the private token sale and participation from players like Coinfund, CMS Holdings, ParaFi, and others. Venture firm Alameda Research was also one of the major backers of the project. The firm also backed Project Serum, one of the most popular decentralized exchanges on the Solana blockchain network.

Solana is a Proof-of-Stake (PoS) blockchain that aims to address key issues of speed and scalability. Emerging as an Ethereum-competitor, Solana has become one of the largest platforms for decentralized projects and applications (DApps). Besides, its lower fees and faster processing times have made it the natural choice for many market players.

Just for comparison, the Ethereum network can process 15 transactions every second whereas Solana 50,000 transactions per second. Similarly, Ethereum’s average transaction fee is around $6 while for Solana it is around $0.00001. Anatoly Yakovenko, co-founder and CEO of Solana Labs said:

“We are convinced that scalability and throughput in blockchain are now a solved problem. The next phase is onboarding a billion users. That’s the whole purpose of the space: it’s empowering everybody with cryptography so there’s no middleman anymore, it’s just a super-connected network”.

Solana to Use Money Received as Fundraise for Further Expansion

With the latest fundraise, Solana Labs is planning to launch an incubation studio along with its own venture investing arm. Besides, it also plans to have a trading desk that’s dedicated to the Solana ecosystem. With the goal of attracting more users to its ecosystem, Solana will continue supporting the development of DApps on its platform.

The number of Projects on Solana has also been increasing sharply. There are over 90 projects currently hosted on the Solana ecosystem with some of the most notable being Serum, Raydium, and Pyth network. However, in terms of the DeFi game, Solana is quite behind Ethereum as of now. The total value locked (TVL) of Ethereum DeFi projects is $59 billion while that of Solana is less than $1 billion.

Polychain Capital’s managing partner Olaf Carlson-Wee is confident that Solana can “massively scale” the DeFi ecosystem. “In our view, Solana is a compliment to Ethereum,” he said. “We’re thrilled to see strong developer activity and a continually expanding community grow around the project.”

next Altcoin News, Blockchain News, Business News, Cryptocurrency news, Investors News

Thank you!

You have successfully joined our subscriber list.

Subscribe to our telegram channel. Join

Source link

Views: 2
AndreessenAnnouncesCapitalFundraiseHorowitzLabsmillionPolychainSolana
Share
0
FacebookTwitterPinterestEmail
previous post
Here’s what ‘Cardano doesn’t care’ about and is eager to…
next post
Stay Alert to Crypto Wallets Protection from Quantum Computer Attack

Related Posts

Are Solana’s bulls really strong enough to halt...

12/29/2021

IXFI Announces Launch of New-Age Exchange Platform

12/29/2021

Litecoin repeating history will have this effect on...

12/28/2021

More than just a game – what GameFi...

12/28/2021

Even as network hits one million users, FTT...

12/28/2021

Fintech Expert Makes Six Bold Predictions for Crypto...

12/28/2021

A recovery rally in play for Sushiswap, as...

12/28/2021

SEC Accused of Deliberately Trying to ‘Kill’ XRP...

12/28/2021

Recent gains may finally boost Aave’s dominance in...

12/28/2021

Santa Floki Price Rallies 5,000% after Elon Musk’s...

12/28/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Dogecoin (DOGE) Is Not Good For The Crypto Market, Says Ripple CEO

  • ConstitutionDAO’s PEOPLE token pulls off dramatic rally after exchange listings

  • Dogecoin Community Believes $DOGE Whale Wallet That Held 28% of Supply Belongs to Robinhood

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,967.00-1.08%
  • ethereumEthereum(ETH)$2,034.51-2.27%
  • tetherTether(USDT)$1.010.41%
  • usd-coinUSD Coin(USDC)$1.010.82%
  • binancecoinBNB(BNB)$299.24-1.27%
  • rippleXRP(XRP)$0.420929-2.08%
  • cardanoCardano(ADA)$0.572.34%
  • SolanaSolana(SOL)$54.151.98%
  • Binance USDBinance USD(BUSD)$1.010.56%
  • polkadotPolkadot(DOT)$10.99-0.86%
  • dogecoinDogecoin(DOGE)$0.088657-1.17%
  • AvalancheAvalanche(AVAX)$33.56-3.10%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,961.00-0.79%
  • Lido Staked EtherLido Staked Ether(STETH)$2,007.52-1.58%
  • tronTRON(TRX)$0.069417-1.14%
  • Shiba InuShiba Inu(SHIB)$0.000012-1.83%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • daiDai(DAI)$1.000.58%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • CronosCronos(CRO)$0.190662-0.87%
  • litecoinLitecoin(LTC)$67.59-2.01%
  • LADZLADZ(LADZ)$0.0686894.36%
  • matic-networkPolygon(MATIC)$0.68-0.97%
  • NEAR ProtocolNEAR Protocol(NEAR)$6.76-0.77%
  • leo-tokenLEO Token(LEO)$4.980.67%
  • FTX TokenFTX Token(FTT)$32.030.71%
  • HederaHedera(HBAR)$0.389473-3.44%
  • bitcoin-cashBitcoin Cash(BCH)$202.69-3.12%
  • RareRare(RARE)$0.0461220.00%
  • chainlinkChainlink(LINK)$7.44-1.54%