China Crypto Venture Firm to Invest in US Startups

Node Capital will set up a U.S. office with a local team aimed to increase its portfolio of blockchain startups from the Silicon Valley
28 June 2018   1208

A Chinese venture company working in the field of blockchain opens an American unit and intends to invest 200,000 Ethereum or about $ 86 million into local blockchain start-ups. This is reported by CoinDesk.

The firm explained that it is opening an office in the US to increase the presence of blockchain-startups from the Silicon Valley in its portfolio. The company did not specify the time of the launch of the new division.

To date, the Peking Venture Company has been involved in financing 160 crypto-currency start-ups, 80% of which are located in China, said Du Jun, the founder of Node Capital, speaking at the event.

Among the most notable start-ups in Node Capital's portfolio the are Coldlar hardware wallets manufacturer and Jinse Finance, one of the largest crypto-currency portals in China. The company also sponsored about 20 crypto exchanges, including FCoin, which recently attracted attention thanks to the "mining with commissions" model.

Du Jun is also one of the first Chinese investors to start discovering the sphere of crypto-currency. He co-founded the Huobi exchange in 2013 with Li Lin, who now holds the post of CEO of Huobi Group.

We Need 100k Transactions\Sec, - Buterin

During the conversation with the head of Abra Vitalik noted that the developers are focused on several main issues - scalability, privacy and ease of use
21 March 2019   122

The founder of Ethereum, Vitaly Buterin, expressed the opinion that for the network of the second most capitalized cryptocurrency, it is vital in the long run to achieve a throughput of 100 thousand transactions per second. It is reported by The Daily Hodl.

During the conversation with the head of Abra, Bill Barkhidt, Vitalik noted that the developers are focused on several main issues - scalability, privacy and ease of use.

As far as the big problems, my top three at this point are probably scalability, privacy and usability. So scalability – the Ethereum blockchain right now can process 15 transactions per second. Really, we need 100,000.
 

Vitalik Buterin

Creator, Ethereum 

According to him, in the context of solving the problem of scaling, the Ethereum team has high hopes for sharding.

There are two major kinds of strategies that we’re working on for scalability. One is layer-one scaling and the other is layer-two scaling. Layer-one scaling basically means improving the blockchain protocol itself to process a larger set of transactions. And the main bottleneck with blockchains right now is basically every user has to download the whole blockchain. Which basically means the blockchain can’t hold more transactions than one guy’s computer can store.

And our solution to this, called sharding, basically means that you split up the different transactions to randomly selected, different groups of computers. And this basically means that the blockchain can process way more things than one single computer can hold. And that can increase scalability by maybe a factor of 1,000 or so, but then potentially even more, much later down the road
 

Vitalik Buterin

Creator, Ethereum 

According to Vitalik, Ethereum developers also continue active work on second-level scaling solutions.

So there’s two major classes of systems we’re working on in this regard. One is called state channels. And there’s a bunch of teams working on this. There’s a team called L4 in Toronto that’s done some really good work. And another project is Plasma. And there’s a lot of work that’s been done on that. OmiseGo is this decentralized exchange that’s building on plasma. There’s TheMatter. There’s more and more of these projects. And then, there’s one of our researchers, Karl Floersch, who has been working on implementation of a reasonably complete Plasma prime specification, which is the latest version of Plasma – which has some really cool features in terms of increasing scalability and reducing the amount of data you have to store.
 

Vitalik Buterin

Creator, Ethereum 

Discussing the problem of scaling, Buterin mentioned Bitcoin. According to him, developers should achieve a significant increase bandwidth of Ethereum network. Otherwise, the second cryptocurrency capitalization will not be actively involved in everyday transactions and a significant market share will remain behind BTC.

If Bitcoin wishes to just be a store of value, then realistically it’s probably fine, though I think they should switch to proof-of-stake. If they want to actually be a currency that people use for transactions, then I do think base-layer scaling, and also speeding up the blockchain and reducing block times at the base layer, is also something which is very important.
 

Vitalik Buterin

Creator, Ethereum 

On the last day of winter hardfork Constantinople hardfork took place on the Ethereum network.