‘Most Ambitious’ Blockchain Project Since Ethereum Raises $15M from Top Venture Funds


Published 1y ago via coinspeaker.com

‘Most Ambitious’ Blockchain Project Since Ethereum Raises $15M from Top Venture Funds
Coin Speaker via coinspeaker.com

According to Multicoin Capital, Helium is the most ambitious crypto venture since Ethereum. A blockchain project Helium has completed a fundraising round where it managed to get $15 million from such investing funds as Multicoin Capital, Khosla Ventures, FirstMark, GV (formerly Google Ventures), and MunichRE Ventures.

With the LongFi protocol, any device can broadcast a message within the coverage area of the Helium network and have their message relayed to the destination chosen on the public internet for a low fee. Speaking about costs on network, Tushar Jain said: Helium aims to undercut the cost structure of existing cellular networks and compared with traditional telecom companies, its business model does not depend on extracting margin on hardware, that’s why Helium is less expensive to build, deploy, and manage.

Read in Full
CoinMarkets is an automated news aggregation service. All copyrights belong to their respective owners. Images and text owned by copyright holders are used in reference to and promotion of those respective parties.