“Lightning Fast” ThunderCore Blockchain Raises $50 Million

“Lightning Fast” ThunderCore Blockchain Raises $50 Million

ThunderCore, a technology company based in Sunnyvale, California, has raised $50 million to fund the development of its “lightning fast blockchain platform.”

Investors from the U.S. and Asia, including Pantera, Huboi Capital, Arrington XRP Capital, and Kinetic have bought into the project.

Ethereum Virtual Machine (EVM) Compatible

Underpinning and driving the current market-leading Ethereum blockchain is the Ethereum Virtual Machine (EVM) which is responsible for all smart contract executions.

ThunderCore is an EVM-compatible public blockchain that supports programming languages such as Solidity and Vyper, as well as JSON RPC tools like MetaMask, to allow Ethereum DApps to run on ThunderCore.

The company claims that ThunderCore provides higher throughput than Ethereum with faster confirmation times and lower costs simplifying DApp deployment and scaleability.

According to the project’s website, the chain returns confirmation times of 1-2 seconds with peak transactions of over 1,200 per second.

Founded by computer scientist Chris Wang and Elaine Shi, an associate professor of computer science at Cornell University, the company are creating a blockchain that operates a “hybrid consensus mechanism, with an optimised fast path, enabling developers to easily and conveniently build on the platform while maintaining Ethereum compatibility.”

Michael Arrington, founder of TechCrunch and partner at Arrington XRP Capital, believes that “ThunderCore is well-positioned for long term-prosperity due to its sustained focus on scalability and its profound, mutually-beneficial relationship with developers.”

ThunderCore’s Testnet went live last summer and a public launch of their Mainnet is scheduled for Q3 2019.