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ThunderCore, a technology company specializing in decentralized solutions, has raised $50 million in the latest funding round.
Pantera, Huobi Capital, MetaStable, ZhenFund, Electric Capital, Arrington XRP Capital, FBG, Hashed, Kinetic, and SV Angel participated in the round.
Founded in 2017, ThunderCore is its own blockchain with its own native cryptocurrency. According to its website, it is Ethereum virtual machine (EVM) 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 (DApps) to deploy and scale.
“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.”
ThunderCore said that the funding will enable it to further build and improve its platform for the DApp developer community, addressing their increasing need for secure, fair and transparent transactions via distributed ledger technology.
In its official release, ThunderCore explained that its 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. It collects feedback, data and insights on how developers use the platform, and how they can better support them in building DApps.
“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.
“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.”
