Sequoia Makes a Big Bet on Web3, Leading $450 Million Investment in Polygon Blockchain

  • 📰 nbcchicago
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 51%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Hype around Web3 has attracted some of the biggest names in venture capital, including Andreessen Horowitz and Tiger Global.

Over the years, the Ethereum blockchain has become congested as more and more users have piled in, resulting in slower transaction times and higher processing fees. This has led to the creation of so-called"Layer 2" network like Polygon, which aim to take a load off the main blockchain.power-intensive crypto mining

Polygon co-founder Sandeep Nailwal says he sees the company becoming a decentralized version of Amazon Web Services, the e-commerce giant's cloud computing arm. Polygon's grander ambitions form part of a movement in the crypto world known as"Web3."Web3 is a hazy concept in tech that refers to efforts to build a more decentralized version of the internet based on blockchain technology.in Silicon Valley.

So far, Sequoia has stayed relatively quiet about its interest in crypto, while Andreessen has its own dedicated fund for investing in the sector. Now, Sequoia is becoming more vocal. It echoes a similar deal involving Solana Labs, the start-up behind Ethereum-rival Solana, which raised $314 million in a private token sale backed by Andreessen Horowitz.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 545. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Will this ever reach 1k? Wake me up

Cnbc. Shilling lol

CNBC talking about something else besides BTC. 🤣

Judy!!!邀请您围观一场精彩直播。

Judy!!!邀请您围观一场精彩直播。

Couple of months ago I came across a recommendation about Arnoldnike93 wealth how he helped investors to earn lots of money with their investments. and I decided to give a trial with the little I have. Now my little has turned into something great which was not my expectation

Government: banned. Rip 450m 🤣

Singapore Singapore Latest News, Singapore Singapore Headlines