CasperLabs , the open-source blockchain platform powered by the Correct-by-Construction (CBC) Casper proof-of-stake consensus protocol, today announced it has raised $14.5M in Series A funding led by Terren Piezer, the "Zelig of Wall Street," through his personal holding company, Acuitas Group Holdings. Other major investors include Arrington XRP Capital, Consensus Capital, Axiom Holdings Group, Digital Strategies, MW Partners, Blockchange Ventures, Hashkey Capital, and Distributed Global. The new investment will be used to accelerate product development and expand hiring of world-class engineers.
Blockchain networks today have yet to achieve widespread adoption for both businesses and consumers because they all compromise on something — speed, efficiency, cost, flexibility, and/or security. Moreover, transaction fees are climbing and already-slow transaction times are increasing as networks become more and more congested. A better platform is needed to remove barriers to mass adoption — a platform that not only solves the “trilemma” of scale, decentralization, and security, but is also developer-friendly to build and operate apps.
Enter CasperLabs, the “blockchain for builders” that’s built to scale opportunity for everyone in the blockchain ecosystem and beyond — including developers, entrepreneurs, and consumers.
"We are humbled by the enthusiasm and financial support for our Series A from leading traditional and blockchain investors to build enterprise-grade, decentralized blockchain infrastructure,” said Mrinal Manohar of ADAPtive Holdings Ltd., parent company of CasperLabs. “We look forward to delivering several interesting technical updates in the coming months and welcome any and all feedback via our open source code repository on Github .”
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