Monday March 08, 2021
Bitcoin (BTC) $49,993.00   Ether (ETH) $1,692.49
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Capital Raising

Decentralized exchange DEXON from COBINHOOD gets USD $20 million boost

Published by CryptoNinjas.net
08/13/2018
Decentralized exchange DEXON from COBINHOOD gets USD $20 million boost

The DEXON Foundation, which guides the development of the decentralized exchange, DEXON, today announced it received a $20 million private placement led by IDG Capital. IDG Capital is a venture capital firm that has had more than 150 successful exits and manages more than $20 billion in assets; portfolio companies include App Annie, 5Miles, and WeCash.

DEXON was founded by the leadership team of COBINHOOD, a crypto exchange ecosystem with zero fees, which launched in December of 2017. Besides IDG, the DEXON private placement was joined by angel investors who understand the potential of a lightning-fast decentralized protocol.

“Clearly, investors believe in DEXON’s ‘blocklattice’ protocol, which is underpinned by consensus algorithms that allow for transaction speeds competitive with major credit card companies. In fact, we hope to partner with these institutions, as we’re now able to offer the same processing power without a need for centralization. Other than DEXON, current blockchain protocols can only process a few secure transactions per second, leaving them unable to keep pace with traditional solutions.”

Popo Chen, founder of both COBINHOOD and the non-profit DEXON Foundation

Along with the funding news, DEXON is concurrently announcing the results from its first test of transaction speeds, which clocked 50 blocks per second with 25 nodes – an estimated one million transactions per second given a block size of 2MB and an average transaction size of 100 bytes.

Through the use of a blocklattice structure along with a total-ordering consensus algorithm, DEXON is able to make decentralized transactions scalable for the exacting demands of real-world usage. Unlike traditional blockchain systems that build encrypted blocks linearly, DEXON’s blocklattice features multiple blockchains that work together in parallel, making it easier to scale automatically and energy-efficiently.

“With its fundamentally new architecture, the DEXON network is poised to become the world’s first mainstream blockchain. Investors are recognizing that there is a problem with current blockchain technology and that the protocol most focused on throughput and scalability will form the basis of blockchain 4.0. These tests prove that the blocklattice works and this funding is proof that investors trust DEXON’s strategy over the long term.”

Wei-Ning Huang, co-founder of COBINHOOD
31
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Founder of crypto exchange COBINHOOD Popo Chen: “This is no exit scam”
Crypto Exchanges

Founder of crypto exchange COBINHOOD Popo Chen: “This is no exit scam”

05/30/2019
COBINHOOD’s decentralized exchange DEXON launches testnet
Crypto Exchanges

COBINHOOD’s decentralized exchange DEXON launches testnet

11/12/2018
COBINHOOD moving to ERC20 USDT; integrating ACHAIN, EOS, IOTA
Token Offerings/Listings

COBINHOOD lists 4 stable coins including GUSD, DAI, PAX and TUSD

11/08/2018
Crypto exchange COBINHOOD adds margin trading and lists XRP and NEM
Crypto Exchanges

Crypto exchange COBINHOOD adds margin trading and lists XRP and NEM

10/18/2018
COBINHOOD to support ICO of e-commerce verification platform simplyBrand
Token Offerings/Listings

COBINHOOD to support ICO of e-commerce verification platform simplyBrand

10/16/2018
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

03/04/2021
Creators of crypto wallet Exodus files with SEC to allow purchase of its stock with bitcoin

Creators of crypto wallet Exodus file with SEC for $75M public offering

03/03/2021
SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

03/02/2021
Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

03/01/2021
DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

03/04/2021
Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

03/05/2021
P2P crypto escrow platform Escaroo adds staking function from Moonstake

P2P crypto escrow platform Escaroo adds staking function from Moonstake

03/05/2021
SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

03/05/2021
NFT platform Curio closes seed funding of $1.2M to fuel expansion

NFT platform Curio closes seed funding of $1.2M to fuel expansion

03/05/2021
IOTA token added as collateral asset on Bitfinex Borrow

IOTA token added as collateral asset on Bitfinex Borrow

03/05/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version