San Fransisco based blockchain scalability platform has raised $17.1m in capital led by prominent crypto investors including Arrington XRP Capital, ConsenSys Labs, Multicoin Capital, and Winklevoss Capital.
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Ethereum Scaling Project SKALE Raises $17.1 Million for Mainnet Launch
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“Skale has grown tremendously over the past year in almost every aspect,” Kyle Samani, managing partner of Multicoin Capital, told CoinDesk via email, adding: “There’s a lot to like, and we’ve been impressed by their ability to set strategy, design spec, and execute. The product is also clearly hitting a nerve. I expect a majority of the smart contracts in the Ethereum ecosystem to eventually leverage Skale.” The funding will be used to seed and stabilize SKALE’s proof-of-stake network and increase its security, as well as adding more people to the 20-person engineering team, O’Holleran said.
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