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Skale Labs Raises $10 Mln Investment from Multicoin Capital to Boost Ethereum Scalability

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Thu, 10/04/2018 - 11:35
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Yuri Molchan
Skale Labs gained slightly under $9 mln by using a Simple Agreement for Future Tokens sale (SAFT) from Multicoin Capital. Last year they received almost $800,000 mln
Skale Labs Raises $10 Mln Investment from Multicoin Capital to Boost Ethereum Scalability
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In the media statement, the company reps mentioned that they had gained slightly under $9 mln by using a Simple Agreement for Future Tokens sale (SAFT) from Multicoin Capital. Besides, last year they received almost $800,000 mln from investors, too. Apart from Multicoin Capital, other large companies also took part in the sale.

Skale intends to come up with an open-source permissionless open ledger that would allow dApp makers to build them on Ethereum, thus boosting the scalability of Vitalik’s Blockchain. The platform is meant to be connected with the Ethereum Virtual Machine on the Plasma chain for executing smart contracts. This would, Skale claims, allow performing millions of operations per second at a tiny bit of the price relevant today.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.