StarkWare is a business that focuses on making major advancements in the various blockchains. This Israeli blockchain startup carries out its functions using STARK technology. With this technology, it succeeds at enhancing both privacy and scalability in the various blockchains. The startup says it has already completed its $30 million financing round.
Current state of affairs
Reports indicate that the business obtained funds from major industry players such as Sequoia and Intel Capital. Since its establishment, StarkWare has been focusing on the development of hardware and software.
This startup focuses on a wide range of applications such as the off chain computation and transparency privacy in line with the various blockchains. Asides from that, it also pays focus to increased transaction throughput. The company takes the blockchain field with the seriousness that it deserves. That is the reason it seeks to address all the challenges to do with scalability and privacy.
An official working with the company says that they focus a huge deal in the provision of zero-knowledge protocol STARK. It is all about looking into the various scalability and privacy matters associated with the blockchain field. The startup seeks to resolve all the challenges before it amicably.
A closer outlook
Market observers applaud the startup upon the recent completion of the $30 million financing round. Fred Ehrsam happens to be one of the cofounders of Coinbase. Sources indicate that Coinbase is the one that runs a crypto hedge fund called Paradigm. This crypto hedge according to a person well conversant spearheaded this financing round.
Semantic Ventures, Collaborative Fund and Atomico participated in the round. This particular funding comes shortly after another one completed way back in May involving a $6 million seed funding round. Bitmain, Da Hongfei of Neo and Arthur Breitman of Tezo were the big names in the round.
The past few years have witnessed Sequoia showcase its great support to the various blockchain and cryptocurrency startups. This company channeled its funds to Poly Capital which pays focus to making investments in blockchain businesses. It undertakes its business operations through Initial Coin Offerings.