Curated News
By: NewsRamp Editorial Staff
April 11, 2024

HTX Ventures Invests in Monad Labs to Support Parallelized EVMs Ecosystem

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Source News Release

TLDR

  • HTX Ventures strategically invests in Monad Labs, a high-performance blockchain platform, reaffirming its commitment to driving innovation and supporting cutting-edge Web3 solutions.
  • The Monad blockchain aims to address Ethereum's limited throughput problem by rearchitecting the Ethereum Virtual Machine, ultimately enabling decentralized applications to scale for mass adoption.
  • HTX Ventures' investment in Monad Labs supports the development of technology to tackle critical challenges in the industry, driving big changes in the Web3 ecosystem.
  • Monad Labs, founded by former team from traditional finance giant Jump Trading, raised $225 million to build a scalable smart contract distributed ledger, leveraging expertise in HFT and systems engineering.

Impact - Why it Matters

This news is important as it signifies a significant investment in the development of a high-performance blockchain platform that aims to address critical challenges facing the industry. The investment not only reaffirms HTX Ventures' commitment to driving innovation within the blockchain ecosystem but also highlights the potential for the Monad blockchain to enable decentralized applications to scale for mass adoption, ultimately impacting the future of blockchain technology and its applications.

Summary

In a strategic move, HTX Ventures has invested in Monad Labs, the team behind the development of the high-performance Monad blockchain, aiming to address Ethereum's throughput problem and enable DApps to scale for mass adoption. The investment underscores HTX Ventures' commitment to driving innovation and supporting projects within the blockchain ecosystem.

Monad Labs, founded by the former team from Jump Trading, recently raised $225 million in Series A Funding to build the scalable smart contract distributed ledger. The Monad blockchain, which will be Ethereum Virtual Machine (EVM)-compatible, is set to launch a testnet in the coming months, with the mainnet deployment planned for later this year.

Source Statement

This curated news summary relied on this press release disributed by News Direct. Read the source press release here, HTX Ventures Invests in Monad Labs to Support Parallelized EVMs Ecosystem

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