Assembly’s Significant Funding Boost
In a jaw-dropping announcement on a Friday, Assembly, a decentralized layer one smart contract network operating under the Iota umbrella, declared that it has successfully raised a staggering $100 million from various private investors. Big names like LD Capital, HyperChain Capital, and Huobi Ventures led the charge, proving that the crypto world is still bolstered by a healthy infusion of cash even as market turbulence sways many.
The Game Plan: What Will the Funds Support?
So where’s all that cash going? The funds are set to turbocharge the development of decentralized finance (DeFi) protocols, non-fungible tokens (NFTs), and even play-to-earn crypto games. After all, why just watch your money grow when you can flip it into pixels and characters that can stack up on your digital mantle?
Iota and Its Unique Technology
Now, let’s dive into the intricacies of Iota itself, which is more than just an average blockchain. It’s designed specifically for Internet-of-Things transactions, utilizing a series of decentralized acyclic graphs. You see, one block can validate two others—kind of like a social network where every friend can like two posts at once. This innovative approach results in no transaction fees and minimal energy usage. Because who needs high fees when you can just have a party of free transactions?
Looking Ahead: Assembly’s Mainnet Launch and Community Incentives
Mark your calendars for early 2022 because that’s when Assembly’s mainnet is expected to launch. In a heartwarming twist of decentralization, 70% of the native ASMB tokens are earmarked for developer incentives and community-governed decisions. Talk about putting the “power” back in the hands of the people!
The Visionary Behind Assembly
In a recent chat with Cointelegraph, Dominik Schiener, one of the founding fathers of the Iota Foundation, had some scathing remarks for the current landscape of Ethereum Virtual Machine (EVM) blockchains. He stated that ultimately, these platforms would face similar challenges, but Assembly is different. “Each smart contract chain can be fully tailored to meet the project’s needs,” he noted, emphasizing flexibility as the key. Coupled with full EVM compatibility and support for languages like Go and Rust, Assembly is positioning itself as more than just an alternative; it’s a customizable playground for developers.
The Future’s Bright: Investor Confidence
Billionaire investor Stelian Balta from HyperChain Capital shared his excitement, stating, “We always needed a feeless, highly scalable network. Assembly does that.” This underlines the strong belief in Assembly’s potential to change the game for developers eager to create scalable applications in the crypto universe. Given their history since 2015, many are betting on their vision for the decade ahead.
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