Nervos Mainnet Goes Live Following $72 Million Token Sale

Nervos Mainnet Goes Live Following $72 Million Token Sale
фото показано с : cryptobriefing.com

2019-11-16 02:21

Nervos, a proof-of-stake challenger to Bitcoin, had its mainnet go live. The release comes on the heels of its $72 million token sale.

The Nervos CKB mainnet Lina just went live. The projects is attempting to solve the scalability issues faced by proof-of-work blockchains. Bitcoin, for example, is often criticized for its relatively high transaction fees and limited throughput. Nervos also claims that it will extend the capabilities of a pure transaction cryptocurrency by building smart contracts and layer 2 scaling into its project.

“As Lina matures, Nervos will grow into the multi-layer, PoW blockchain that can truly scale and serve as the foundation for the decentralized economy,” stated the release.

Nervos launched its mainnet shortly after a successful token raise on Coinlist. In October, the company aimed to raise $50 million selling CKByte, the blockchain’s native cryptocurrency. The sale was oversubscribed and the project took in $72 million during its token sale, reported Reuters. The company also raised $28 million in series A funding, bringing its total known financing to $100 million.

Token distribution chart posted on Coinlist

The project is financed by several high-profile backers, including China Merchant Bank International, Sequoia China, Blockchain Capital, Polychain Capital, MultiCoin, and others. However, whether Nervos will legitimately challenge Bitcoin is still in question.

The post Nervos Mainnet Goes Live Following $72 Million Token Sale appeared first on Crypto Briefing.

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