Harmony to Raise $18M During Presale

Hong Kong Lemniscap VC, Australian BCA Fund, Singapore UniValues ​​Associates and Consensus Capital from Silicon Valley were among the investors
02 April 2019   491

Harmony announced the raise of around $ 18 million during token presale. Hong Kong Lemniscap VC, Australian BCA Fund, Singapore UniValues ​​Associates and Consensus Capital from Silicon Valley took part in the proccess. This writes CoinDesk.

Harmony blockchain launchs with a preminine of 12.6 billion tokens. Of these, 2.8 billion were bought by investors. Some of the remaining tokens will be used to motivate the early members of the network, including as a reward for the nodes.

The short-term goal of developers is to bring existing decentralized applications into their ecosystem. To this end, they intend to create a more efficient and scalable blockchain than Ethereum and to simplify the process of porting already functioning smart contracts. The Harmony protocol will be compatible with the Ethereum virtual machine, thanks to which project creators will have to exert a minimum of effort to switch to a new blockchain. In the long term, the company wants to use a decentralized protocol to work with personal data of the maximum possible number of users who can receive income from this.

Being an American company, Harmony is afraid of holding an ICO so as not to attract excessive attention of regulators, however, it is considering the possibility of organizing an initial exchange offering (IEO). Currently, the project is negotiating with several cryptocurrency exchanges.

Algorand to Raise $60M in 4 Hour Tokensale

The project was founded by a MIT professor and a Turing Award winner Silvio Micali and is designed to solve the problems of scalability and consensus in the DLT
20 June 2019   797

The blockchain-project Algorand, aimed at creating an “borderless economy ”, announced the successful completion of the  ALGO tokensale, during which it raised over $ 60 million, CoinDesk reports.

The campaign was held on the CoinList platform and was conducted in the format of the so-called “Dutch auction”, in which the highest price is first announced, after which it gradually decreases.

Simultaneously with the completion of the tokensale, it was announced the launch of the main network of the Algorand. The platform processes 1000 transactions per second with a delay time of less than 5 seconds, which, as noted, puts it on par with such major payment networks as Visa and Mastercard.

In his work entitled The Monetary Experiment: Algorand A Thesis For Algo Currency Markets, the head of Arrington XRP Capital, Michael Arrington writes that Algorand is a project where macroeconomics meets cryptocurrencies. He also notes that Algorand, as a blockchain-resistant Proc-of-Stake algorithm, is distinguished by a combination of advanced cryptography and a smart economic model.

The Algorand project was founded by a professor at the Massachusetts Institute of Technology and a Turing Award winner Silvio Micali. The main task of Algorand is to solve the problems of scalability and consensus in the blockchain.

As noted, the exact number of buyers who participated in the auction remains unknown, but because of high demand, the campaign lasted less than four hours. In total, 25 million ALGO tokens were distributed with a starting price of $ 10 and a closing price of $ 2.40.

Representatives of the project also stated that since tokens are distributed to customers' wallets and are not available on stock exchanges, there is no need to talk about any value of Algorand market capitalization.

Algos are being dispersed to wallet right now (for successful bids).  Therefore – there are non on exchanges. [Therefore, no market capitalization is available for Algorand, though some have speculated it sits around $6 billion.] Which is still a top 10.

Algorand Team

Earlier, the project announced plans to auction 600 million ALGO tokens per year, and in the first five years it is planned to release 10 billion tokens.

Also note that over the last year, Algorand raised $ 66 million in venture capital from investors such as Union Square Ventures and Pillar Venture Capital.