As a seasoned researcher with a deep interest in blockchain technology and its applications, I find the recent $15 million Series A funding round for Chainbase, an omnichain data network for web3, particularly noteworthy. The involvement of industry giants like Tencent Investment Group, Matrix Partners, and Hash Global speaks volumes about the potential of this project.
Tencent, the massive tech company from China, has successfully raised $15 million through its Series A investment in Chainbase. Chainbase is a versatile data network specifically designed for the web3 sector.
Based on information from a press announcement obtained by crypto.news, Tencent Investment Group, Matrix Partners, and Hash Global were among the distinguished investors who took part in the funding round.
Chainbase is the world’s largest omnichain data network. The project aims to create a comprehensive on-chain data infrastructure for the web3 space.
Accessing and utilizing blockchain data becomes more convenient for developers through this means, fostering a transparent and equitable environment. This enhancement significantly contributes to the functionality of numerous applications within the web3 realm, such as cryptocurrencies and smart contracts.
Using newly obtained funds, Chainbase intends to introduce a trailblazing cryptocurrency framework to enhance data analysis on the blockchain and broaden the scope of artificial intelligence (AI) in all their applications.
Approximately 8,000 active projects are being managed on the platform at present, while more than 15,000 developers utilize it. Collectively, the network processes over 500 billion data requests.
As a researcher studying Coinbase’s future plans, I can tell you that they aim to bring in millions of developers and retail users into their platform in the upcoming years. Additionally, they are committed to creating standardized tools for developing on-chain data and implementing machine learning techniques.
Chris Feng, the co-founder and COO of Chainbase, described the latest fundraising event as a significant turning point. He further explained that the raised funds would be instrumental in constructing “the initial framework for the Cryptocurrency Universe Model.”
Feng shared with crypto.news that our team is currently constructing a cutting-edge mainnet – a four-layered, dual consensus omnichain network for the AI era. The network’s architecture is intentionally designed to uphold openness, permissionlessness, transparency, and top-notch security. Data processing is expected to occur instantaneously from its inception. We anticipate releasing the test net by August.
As a crypto investor, I’m excited about the partnership between Chainbase and the Open Network (TON) Foundation and Tencent Cloud last year. This collaboration aimed to boost web3 adoption in the Asia-Pacific region. I’m particularly intrigued by the successful launch of Chainbase’s first data indexing product on TON as part of this venture. It’s a significant step forward for both parties, and I’m looking forward to seeing how it unfolds.
Additionally, the TON blockchain can be deployed quickly and dependably as an enterprise-grade node through the platform’s offering.
As a researcher studying the development of technology in China, I’ve observed that Tencent joined the metaverse working group spearheaded by the Ministry of Industry and Information Technology (MIIT) this year. The objective of this initiative is to set industry-wide standards for the metaverse.
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2024-07-18 16:08