Horizen Labs Raises $4 Million to Build Sidechain-as-a-Service Platform

cryptocuser 2 min read 163

Horizen Labs received $ 4 million in Digital Currency Group — an trading firm focused on cryptocurrencies, seed stage fund Liberty City Ventures, along with independent investors and initially aimed to increase $ 2 million in seed funding, however overshot its goal.

Based on Barry Silbert, founder and CEO of Digital Currency Group, stated that the sidechain merchandise gives allows businesses”to incorporate customized electronic ledger technologies in their operations, removing a substantial barrier to blockchain adoption and progressing the industry as a whole.”

Horizen Labs — a technology firm that helps businesses build spread ledger platforms — has raised $4 million in funding, according to a blog article published on April 11.

Another study released in January, showed that 40% of institutional Americans surveyed think that blockchain”would be the most transformative technology since the net.” In addition, just under a third of investors interviewed believed businesses would want to discover a head of blockchain over the next five decades in their boards. 38 percent believed companies would need to show their strategy to investors in that time frame to the technology.
48 percent of executives believe blockchain is very likely to change the way they do business in the next three decades as a poll by Big Four audit company KPMG published in February demonstrated. 41% of respondents stated they’re most likely to use the technologies when asked about the chance of implementing blockchain in their companies.
The company plans to create sidechain-as-a-service products. Sidechains may be deployed to handle blockchain usage, performing tasks dispersed accordingly to increase productivity or efficiency.