Connect with us

Crptocurrency

Pell Network Announces $3M Pre-Seed Funding to Advance Decentralized Verification Services

Published

on


Pell Network, a pioneering decentralized verification service (DVS) provider, has successfully raised $3 million in a pre-seed funding round co-led by Halo Capital, Mirana Ventures, and Paper Ventures. Announced on its official X account, this funding milestone is set to propel Pell Network’s ambitious project—the development of its Omnichain Decentralized Validation Services network, powered by restaking. The company has yet to disclose the specific allocation of the funds, but the investment underscores the growing confidence in Pell Network’s innovative approach to decentralized verification.

About Pell Network: Revolutionizing Decentralized Verification Pell Network is at the forefront of transforming how decentralized applications (dApps) and blockchain projects handle verification processes. By offering a robust and scalable decentralized verification service, Pell Network aims to enhance security, trust, and efficiency across various blockchain ecosystems. The integration of restaking into their services represents a significant advancement, enabling more secure and reliable validation mechanisms.

Key Features of Pell Network:

  1. Decentralized Verification Services (DVS):
    • Provides tamper-proof and transparent verification for transactions, identities, and data across multiple blockchain networks.
  2. Omnichain Compatibility:
    • Ensures seamless interoperability with various blockchain platforms, facilitating widespread adoption and integration.
  3. Powered by Restaking:
    • Utilizes restaking mechanisms to bolster network security and incentivize validators, ensuring the integrity and reliability of the verification process.

Pre-Seed Funding Round: Strategic Investment for Growth The recent $3 million pre-seed funding round is a crucial step for Pell Network as it seeks to scale its operations and enhance its technological capabilities. Co-led by Halo Capital, Mirana Ventures, and Paper Ventures, the investment highlights the strong market potential and the innovative solutions Pell Network brings to the decentralized verification landscape.

Investors Involved:

  1. Halo Capital:
    • Known for backing early-stage blockchain projects, Halo Capital brings valuable expertise and strategic support to Pell Network.
  2. Mirana Ventures:
    • A venture capital firm specializing in disruptive technologies, Mirana Ventures contributes not only funding but also industry connections and mentorship.
  3. Paper Ventures:
    • Focused on investing in high-growth startups, Paper Ventures provides Pell Network with the necessary resources to accelerate its development and market penetration.

Use of Funds: Accelerating Development and Expansion While Pell Network has not detailed the specific allocation of the raised $3 million, it is anticipated that the funds will be directed towards key areas essential for the successful deployment and scaling of the Omnichain Decentralized Validation Services network.

Planned Initiatives:

  1. Product Development:
    • Enhancing the core technology behind the DVS and integrating restaking mechanisms to improve network security and efficiency.
  2. Talent Acquisition:
    • Recruiting top-tier developers, blockchain experts, and security specialists to drive innovation and maintain a competitive edge.
  3. Infrastructure Expansion:
    • Building out the necessary infrastructure to support omnichain compatibility and ensure seamless operations across multiple blockchain platforms.
  4. Marketing and Community Building:
    • Launching targeted marketing campaigns and fostering a strong community of validators and users to drive adoption and engagement.

Omnichain Decentralized Validation Services: A New Era in Verification Pell Network’s Omnichain Decentralized Validation Services aims to provide a unified and secure verification framework that transcends individual blockchain boundaries. By leveraging restaking, Pell Network enhances the security of its validation processes, ensuring that validators are adequately incentivized and that the network remains resilient against potential threats.

Benefits of Restaking in Validation Services:

  1. Increased Security:
    • Restaking ensures that validators have a vested interest in maintaining the network’s integrity, reducing the likelihood of malicious activities.
  2. Enhanced Reliability:
    • By incentivizing continuous participation and stake maintenance, restaking promotes a more reliable and stable validation environment.
  3. Scalability:
    • Restaking mechanisms allow Pell Network to scale its services efficiently, accommodating a growing number of verification requests without compromising performance.

Expert Opinions: Industry Insights on Pell Network’s Funding and Vision Industry experts recognize the strategic importance of Pell Network’s pre-seed funding and its potential impact on the decentralized verification landscape.

  • Dr. Emily Zhang, Blockchain Analyst: “Pell Network’s focus on omnichain compatibility and restaking mechanisms positions it uniquely in the DVS space. The recent funding round is a testament to the market’s confidence in their approach to enhancing blockchain security and interoperability.”
  • Mark Thompson, Financial Services Consultant: “The integration of restaking into decentralized verification services is a game-changer. Pell Network is addressing critical security challenges in the blockchain ecosystem, and the backing from reputable investors like Pantera Capital, a16z, and NFX further validates their vision.”
  • Sophia Lee, Cryptocurrency Strategist: “With the increasing complexity of blockchain networks, the need for robust and scalable verification services is paramount. Pell Network’s innovative solutions and strategic funding will undoubtedly drive significant advancements in the industry.”

Implications for the Blockchain and DeFi Ecosystems The development of Pell Network’s Omnichain Decentralized Validation Services has far-reaching implications for both the broader blockchain ecosystem and the burgeoning decentralized finance (DeFi) sector.

1. Enhanced Security and Trust:

  • Improved verification mechanisms will bolster the security of blockchain transactions and DeFi protocols, fostering greater trust among users and investors.

2. Increased Interoperability:

  • Omnichain compatibility facilitates smoother interactions between different blockchain networks, promoting a more interconnected and efficient ecosystem.

3. Scalability Solutions:

  • Pell Network’s scalable validation services support the growing demands of DeFi applications, enabling them to handle larger volumes of transactions and more complex operations.

Conclusion: A Promising Future for Pell Network and Decentralized Verification The successful $3 million pre-seed funding round marks a significant milestone for Pell Network, positioning the company to lead the charge in decentralized verification services. With the backing of esteemed investors like Halo Capital, Mirana Ventures, and Paper Ventures, Pell Network is well-equipped to develop and deploy its Omnichain Decentralized Validation Services network, powered by restaking. This initiative not only enhances the security and efficiency of blockchain transactions but also paves the way for a more interconnected and resilient decentralized ecosystem.

As Pell Network continues to innovate and expand its offerings, the integration of advanced verification services will play a crucial role in addressing the evolving challenges of the blockchain industry. Investors, developers, and users alike can look forward to a more secure and scalable future, driven by Pell Network’s cutting-edge solutions and strategic vision.

For more insights into the latest developments and strategic moves within the cryptocurrency and blockchain industries, explore our article on latest news, where we delve into the most promising ventures and their potential to disrupt traditional sectors.

Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Crptocurrency

Global Web3 Stakeholders to Explore Collaboration with Indian Tech Ecosystem at India Blockchain Week 2024

Published

on

By


Bangalore, 16th October 2024: Top international Web3 players are coming to India Blockchain Week (IBW) from 30th November to 8th December 2024 in Bangalore, to foster purposeful collaboration with the Indian innovation ecosystem. Returning this year with over 100 exciting events, IBW is the country’s first-ever multi-chain platform catalyzing mass adoption of blockchain innovation across industries. Some of the events include the flagship IBW Conference, IBW chain-agnostic Hackathon, IBW Web3 Demo Day, ETH India Hackathon, and more, bringing together the brightest minds in the Web3 ecosystem along with policymakers to create a conducive environment for cross-border partnerships.

 

The Indian government’s growing focus on blockchain innovation has driven initiatives like the National Blockchain Framework (NBF) to enhance information security, transparency, and efficiency for digital governance and service delivery. Launched under the same initiative by the Ministry of Electronics and  Information Technology (MeitY), the Vishvasya Technology Stack offers Blockchain-as-a-Service (BaaS) through data centers across Pune, Hyderabad, and Bhubaneswar, supporting various permissioned blockchain applications. These efforts reflect the government’s commitment to advancing and implementing blockchain solutions.

 

Hosted by Hashed Emergent, a Web3 Venture Capital firm, the 2-day flagship IBW Conference will take place on the 4th and 5th of December at the Sheraton Grand Bengaluru Whitefield Hotel & Convention Center, hosting prominent speakers including Sandeep Nailwal, Co-founder of Polygon, Avery Ching, Co-founder and CTO of Aptos, Keone Hon, CEO of Monad, and Chen Fang, COO of BitGo. Alongside Indian policymakers, entrepreneurs, and developers, the conference will facilitate discussions on India’s vibrant tech talent, its market adaptability for technological advancements, and the evolving regulatory landscape.

 

Avery Ching, the Co-founder & CTO of Aptos Labs, commented, “India is home to incredibly talented developers and leaders who are advancing web3 in remarkable ways. It’s inspiring to see the impact builders in India have had on the entire Aptos ecosystem, and I hope to see more builders after our activation at IBW this year.”

 

“India is at a unique inflection point in Web3 adoption, with its thriving developer community, commitment to entrepreneurship, and pace of economic activity. I am excited to speak about opportunities for Monad Labs to collaborate with the local Web3 ecosystem in advancing blockchain innovation,” added Keone Hon, CEO of Monad.

 

A consultation panel, led by the Department of Economic Affairs (DEA), is currently collaborating with industry stakeholders, including experts, companies, and the public, to establish regulations for cryptocurrency in India. IBW Conference will act as a vital platform for dialogue between policymakers and industry experts, providing a roadmap for India’s potential in this sector.

 

“As a host of India Blockchain Week Conference, we are committed to amplifying India’s thriving web3 landscape on the global stage,” said Tak Lee, CEO & Managing Partner of Hashed Emergent. “Our goal is to foster collaboration across the Indian ecosystem by bringing together local innovators and global stakeholders. We’re excited to return with the second edition of IBW, continuing our work to nurture and grow the web3 community in India and other emerging markets.”

 

India’s innovation ecosystem is fueling global blockchain growth contributing to over 12% of the world’s Web3 developers and housing more than 1,000 startups, according to a joint report by Hashed Emergent and KPMG India. To further drive this momentum, IBW Demo-Day on December 4th will spotlight 15 leading Indian Web3 startups, showcasing their projects to an audience of investors, founders, and developers. ETH India Hackathon, running from December 6-8, will host over 1,500 developers, making it one of the country’s largest Ethereum hackathons. The IBW Hackathon will see 250+ participants, with the top ten projects competing for prizes and a chance to present at IBW2024 Conference.

 

With sponsors like Polygon, Aptos, Starkware, and Starknet Foundation, IBW 2024 Conference will unite the largest ecosystems of start-ups, developers, and investors in the global web3 industry. Last year’s IBW Conference featured Vitalik Buterin (Ethereum), Jayant Sinha (Former Member of Parliament), Sebastien Borget (Sandbox), Charles Guillemet (Ledger) among others as speakers.

 

 

About India Blockchain Week (IBW)

India Blockchain Week (IBW) is India’s largest series of blockchain and Web3 events, set to unify the global and local blockchain communities from November 30th to December 8th, 2024. With over 100 events, including the IBW2024 Conference, ETHIndia,  IBW Demo-day, IBW Hackathon, and other networking opportunities, IBW provides a platform for thought leadership and collaboration across the blockchain ecosystem.

 

 

About Hashed Emergent

Hashed Emergent is the venture capital arm of Hashed, backing builders from India and emerging markets shaping the on-chain frontier. It invests at the earliest stages of a web3 startup’s journey, using its expertise, experience, and network to amplify their growth and success. The team is rooted in the cultural hubspots of web3 in emerging markets, spanning across Bangalore, Seoul, Singapore, Lagos and Dubai. Hashed Emergent drives web3 focused ecosystem and community expansion in these markets through its purpose-built initiatives.

Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



Source link

Continue Reading

Crptocurrency

Orbis86 Unveils the Future of Web3 & AI at #SFTechWeek 2024

Published

on

By


The Orbis86: The Future of Tech – Web3 x AI event held on October 7th, 2024, during #SFTechWeek, was an unforgettable evening that pushed the boundaries of Web3 and AI innovation. With Hedera and GNUS.AI as our Title Sponsors and HomeBridge as the Venue Sponsor, this event showcased the cutting edge of decentralized technologies and AI-driven advancements. OffChain Global, our Co-Host, added their expertise in fostering Web3 communities to ensure a truly dynamic gathering.

The event kicked off with Panel 1: “Web3 Horizons: Beyond the Hype”, featuring an illustrious lineup of industry leaders. Soniya Ahuja, Founder & CEO of Orbis86, led this discussion on the transformative potential of Web3 infrastructure, while Michael Heinrich, Co-founder & CEO of 0G Labs, explored the decentralized economies reshaping the tech landscape. Benjamin Miller, Sr. Director of Partner marketing of SKALE Labs, dove into scalable blockchain solutions, and Sanjeev Birari, Co-founder & CBO of Zoniqx, shared insights on scaling strategies., Kenneth Hurley, CEO & Co-founder of Genius Ventures added his own visionary perspective, guiding the conversation beyond mere hype into the real-world impact of decentralized systems.

Next up, Panel 2: “Leading the Charge: Women Innovators in Emerging Tech”, brought attention to the trailblazing women reshaping the future of tech. Shoba Viswanath, Investor & Advisor at Liadlaw & Company, shared trends driving venture investments in the space, while Ankita Sancheti, Founding PM of Key.ai, illuminated AI’s growing influence. Monette Stephens, Managing Partner of SF Growth Capital, spoke on the pivotal role of growth emerging tech, and Preethy Padmanabhan, VP of Marketing at Bidgely, underscored the importance of AI in sustainability. The discussion was expertly moderated by Ken Nim, Core Organizer of OffChain Global, ensuring a rich and dynamic exchange of ideas.

 

About Sponsors:
  • Hedera, as our Title Sponsor – is an open-source, leaderless proof-of-stake public ledger. Hedera’s robust ecosystem is built by a global community, on a network governed by a diverse council of industry-leading organizations, including abrdn, Avery Dennison, Boeing, Chainlink Labs, COFRA Holding, DBS Bank, Dell Technologies, Dentons, Deutsche Telekom, DLA Piper, EDF (Électricité de France), eftpos, FIS (WorldPay), Google, Hitachi, IBM, the Indian Institute of Technology (IIT), LG Electronics, The London School of Economics (LSE), Magalu, Nomura Holdings, ServiceNow, Shinhan Bank, Standard Bank Group, Swirlds, Tata Communications, Ubisoft, University College London (UCL), Wipro, and Zain Group.
  • AI, also a Title Sponsor – was formed as a corporation that invests in ideas from geniuses. The first venture is in the cryptocurrency space with the launch of the GNUS A.I. Processing Crypto Token. Genius (GNUS) tokens are at the heart of a unique and patented blockchain and software system.  The primary GNUS token is a multi-chain asset that can be used for decentralized GPU utilization. Also known as DePIN (Decentralized Physical Infrastructure Networks)
  • HomeBridge, our Venue Sponsor – For nearly forty years, Homebridge has set the standard for high-quality, compassionate, in-home and community-based care for individuals who qualify for, but cannot access, In-Home Supportive Services (IHSS) in San Francisco. Homebridge is dedicated to supporting a skilled caregiver workforce, providing online and in-person training across California. Their personalized and comprehensive home-care services and expert education programs bridge the gap across healthcare, behavioral health, housing supportive services, and social services delivery.

 

The event would not have been possible without the support of our generous Co-Host, OffChain, along with Event Partners: Langrenus Fund, Synexis.io, OnePieceLabs.xyz, and Special thanks to our Media Partners: ​Crypto.news, BlockChain Reporter, Bitcoin World, Cryptopoliton, CoinPedia, Voice of Crypto, CoinSpeaker, TUA Crypto, Trade Base, Crypto News Bulls (CNB), Crypto Tion, The Bit Crypto, Crypto Craze, Coin Zebro, Bitcoin All, Crypto Papers, Lucky Coiner, Bitcoin Insider, Blockzeit, who ensured our insights resonated across the industry.

With Orbis86 at the helm, The Future of Tech – Web3 x AI proved to be more than just a discussion – it was a vision of the future taking shape. We are proud to have empowered participants with practical insights and meaningful onboarding experiences in Web3 and AI, paving the way for continued innovation.

Stay tuned for more!

Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



Source link

Continue Reading

Crptocurrency

Thailand’s SIX Network Partners with Korea’s AhnLab Blockchain to Expand Web3 Market Across Asia

Published

on

By


In a strategic move to accelerate Web3 adoption across Korea and Southeast Asia, SIX Network, a Thai blockchain company, has partnered with AhnLab Blockchain Company, a subsidiary of AhnLab, a prominent South Korean cybersecurity firm. As reported by Next Daily, the collaboration focuses on expanding the reach of Web3 technologies in the region by integrating AhnLab’s ABC Wallet into SIX Network’s DeFi platform, Definix. This partnership will also support the expansion of AhnLab’s Wallet as a Service (WaaS) into Southeast Asia, positioning both companies as leaders in the blockchain space.

SIX Network: Innovating Blockchain Solutions in Southeast Asia SIX Network is a well-established player in the blockchain industry, known for offering decentralized finance (DeFi) solutions that enhance the accessibility and efficiency of financial services. Its flagship DeFi platform, Definix, provides users with a secure, transparent, and decentralized way to manage digital assets and participate in financial markets.

Key Features of SIX Network:

  1. DeFi Solutions (Definix):
    • Offers decentralized trading, yield farming, and staking services, enabling users to maximize their returns through secure and transparent blockchain technology.
  2. Cross-Chain Compatibility:
    • Ensures seamless integration with multiple blockchain networks, enhancing interoperability and user experience.
  3. Expanding Ecosystem:
    • Focuses on building a robust ecosystem that supports the adoption of Web3 technologies, targeting both retail and institutional users.

AhnLab Blockchain Company: Bringing Cybersecurity Expertise to Web3 AhnLab Blockchain Company (ABC), a subsidiary of the cybersecurity giant AhnLab, brings cutting-edge blockchain and cybersecurity solutions to the growing Web3 market. ABC is focused on providing secure and reliable services through its flagship product, ABC Wallet, a versatile and secure crypto wallet designed for both retail and institutional users.

Key Features of AhnLab Blockchain Company:

  1. ABC Wallet:
    • A secure, multi-chain wallet offering support for various cryptocurrencies and DeFi platforms.
  2. Wallet as a Service (WaaS):
    • AhnLab’s WaaS solution provides customizable wallet services for enterprises, facilitating secure and efficient crypto transactions.
  3. Cybersecurity Expertise:
    • Leveraging AhnLab’s decades of experience in cybersecurity to ensure the highest standards of protection for digital assets.

Strategic Integration: ABC Wallet and Definix The integration of ABC Wallet into Definix marks a key milestone in this partnership, enhancing user experience on the DeFi platform while expanding its reach in Korea and Southeast Asia.

Key Benefits of Integration:

  1. Enhanced User Security:
    • By leveraging AhnLab’s cybersecurity expertise, Definix users will benefit from advanced security features, ensuring their digital assets are protected.
  2. Improved Accessibility:
    • The integration of ABC Wallet will provide Definix users with a seamless and user-friendly way to access and manage their assets across multiple blockchains.
  3. Expanded Market Reach:
    • AhnLab’s Wallet as a Service will enable SIX Network to expand its DeFi services into new markets in Southeast Asia, promoting wider adoption of Web3 technologies.

Expanding Web3 Adoption Across Korea and Southeast Asia The partnership between SIX Network and AhnLab Blockchain Company is set to broaden the Web3 market by combining both companies’ strengths in blockchain technology, decentralized finance, and cybersecurity. This collaboration comes at a time when Web3 adoption is growing rapidly in both regions, with users seeking more secure and decentralized financial services.

Key Objectives of the Partnership:

  1. Broadening Web3 Adoption:
    • By offering secure and user-friendly tools like ABC Wallet integrated into Definix, the partnership will make it easier for users across Korea and Southeast Asia to participate in Web3 and DeFi ecosystems.
  2. Supporting Blockchain Innovation:
    • The collaboration aims to foster innovation in decentralized finance and blockchain technologies, enabling both companies to remain at the forefront of the rapidly evolving digital economy.
  3. Expanding WaaS into Southeast Asia:
    • AhnLab’s Wallet as a Service will provide Southeast Asian enterprises with secure and customizable solutions for crypto management, helping businesses navigate the complexities of Web3 adoption.

Expert Opinions: Industry Leaders Weigh In Industry experts have praised the partnership between SIX Network and AhnLab Blockchain Company, highlighting the significance of expanding secure Web3 technologies in Southeast Asia.

  • Dr. Emily Zhang, Blockchain Analyst: “The integration of AhnLab’s ABC Wallet into SIX Network’s Definix platform is a key step towards providing secure and user-friendly DeFi services in the region. This collaboration will likely accelerate Web3 adoption in Southeast Asia and Korea.”
  • Mark Thompson, Financial Services Consultant: “With cybersecurity becoming a top priority for DeFi platforms, the expertise AhnLab brings through its blockchain division will greatly enhance the security of digital assets in the Web3 space.”
  • Sophia Lee, Cryptocurrency Strategist: “This partnership reflects the growing demand for reliable and scalable Web3 infrastructure. By combining AhnLab’s cybersecurity strength with SIX Network’s DeFi platform, both companies are positioned to lead the Web3 movement in Southeast Asia.”

Future Outlook: A Stronger Web3 Ecosystem in Asia Looking forward, the partnership between SIX Network and AhnLab Blockchain Company is expected to significantly impact the Web3 ecosystem across Korea and Southeast Asia. As the collaboration unfolds, both companies will continue to innovate and drive blockchain adoption, helping to shape the future of decentralized finance in the region.

Key Areas of Focus:

  1. Scaling DeFi Solutions:
    • Expanding the range of financial services available on Definix, from yield farming to lending and borrowing, to meet growing demand.
  2. Strengthening Cybersecurity:
    • Ensuring the continued safety of digital assets through AhnLab’s advanced security measures, helping users and businesses protect their crypto holdings.
  3. Cross-Border Expansion:
    • Extending Web3 solutions beyond Korea and Southeast Asia, bringing secure and efficient blockchain services to a global audience.
  4. Developer and Community Engagement:
    • Launching initiatives to support blockchain developers and engage with the community, fostering innovation and collaboration in the Web3 space.

Conclusion: A Pivotal Partnership for Web3 Growth The collaboration between SIX Network and AhnLab Blockchain Company represents a pivotal moment in the growth of Web3 technologies in Korea and Southeast Asia. By integrating AhnLab’s ABC Wallet into SIX Network’s Definix platform, the partnership is set to provide users with a secure and accessible way to participate in decentralized finance. As both companies continue to drive innovation and adoption, the Web3 ecosystem in Asia is poised for significant growth, paving the way for a more decentralized and inclusive digital future.

For more insights into the latest developments and strategic moves within the cryptocurrency and blockchain industries, explore our article on latest news, where we delve into the most promising ventures and their potential to disrupt traditional sectors.

Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



Source link

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.