Interchain Foundation raised 16.8 Millions in 28 Minutes
Blockchain, Bitcoin, Ethereum, Crowdfunding
On April 6th, 2017, the Interchain Foundation based in Zug, Switzerland has raised in a record time of 28 minutes Bitcoins and Ethers in the amount of 16.8m USD for the funding of the Cosmos Network. With this result, the Interchain Foundation has performed one of the most successful blockchain-based fundraising events in history.
Interchain Foundation will be building a network of blockchains to solve some of the biggest problems facing the blockchain industry, such as the lack of interoperability, poor performance, and scalability. The Cosmos Network will be based on the ground-breaking Tendermint consensus algorithm, and is scheduled to be released in Q4 2017. A key component of the Cosmos Network is the Interblockchain Communication (IBC) Protocol, which allows moving assets between blockchains. Bridges to existing major blockchains Bitcoin and Ethereum are being developed, which will allow moving bitcoin and ether on to the Cosmos Network.
Interchain Foundation shapes up to play a key role in the rapidly evolving blockchain ecosystem by addressing the key problems of interoperability and scalability. Through creating an internet of blockchains, it will make it possible for digital value on different blockchains to be transferred and exchanged with ease.
MME is proud to support the Interchain Foundation with all its legal, tax and compliance matters.
Please find more information about the Cosmos Network here: http://www.cosmos.network/
* MME Crypto Team
In need of legal or tax advice? We look forward to contacting you.
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