CasperLabs, the startup working to improve Ethereum 2.0 scalability without sacrificing decentralization or speed, has raised $14.5 million in Series A funding, reported Cointelegraph on September 10th.
Investors in the Series A include Arrington XRP Capital, Consensus Capital, Blockchange Ventures and Axiom Holdings Group, among others. The new investment will be used to accelerate product development and expand hiring of world-class engineers.
CasperLabs said it is working to solve the “scalability trilemma,” as well as building a developer-friendly platform to build and operate decentralized apps (dApps). The effort is being led by one of Ethereum’s lead researchers, Vlad Zamfir, who joined the firm earlier this year.
CasperLabs’ robust, open-source blockchain platform is built to provide comprehensive software, services and support that scale sustainable opportunities for developers, entrepreneurs, investors and consumers. Key benefits include, scale without sacrifice fully decentralized, truly scalable blockchain services made for real world speed and security. CasperLabs is more efficient, optimizing resources to put more processing power toward actual transactions all while maintaining decentralization. Built for flexibility since not all transactions require the same speed, CasperLabs enables customization to serve a wide range of applications and markets. CasperLabs is constructed with security mechanisms in place to punish bad actors, verifying and safeguarding every transaction and computation in ways today’s businesses expect at every scale, every time. In addition it is open to the World through A public and permissionless software platform developed with radical transparency.