In line with a recent announcement ‘published‘ on its official web blog post, Waves – Global blockchain platform has raised over $120 Mln in a private funding round for its new project called ‘Vostok’.
The Vostok project is a ‘universal blockchain solution’ that mixes 2 basic components — its own private blockchain platform, along with the Vostok system integrator, a tool for developing and optimizing the platform.
The Vostok blockchain is targeted on the development of Waves technologies for business and government IT systems. The new product can reportedly facilitate the Waves Platform to develop new technologies like AI [Artificial Intelligence], Internet of Things [IoT], and blockchain so as to “support a very open and decentralized web.”
This Private funding spherical was led by London-based monetary services firm “Dolfin,” as ‘reported‘ by news web-site ‘Finance Magnates’. Waves started developing Vostok earlier in 2018 and is reportedly planning to launch the platform in early 2019, targeting European and Asian markets at the initial launch stage.
The chief operating officer of Dolfin ‘Denis Nagy,’ commented that attracting private funding within the blockchain phase is “often problematic due to lack of economic infrastructure.” In line with Nagy, the recent private funding spherical is predicated on a model that’s “familiar to private equity investors,” and was developed together with Vostok.
Founded earlier in 2016, the Waves Platform is a blockchain based platform that permits users to make their own custom tokens and is touted to become the “fastest blockchain within the world.” In line with Finance Magnates, the platform is quicker in comparison to Bitcoin [BTC] and Ethereum [ETH] blockchains, processing 6.1 Mln transactions daily at its ‘peak‘.
Following the funding news, the Waves [WAVES] token saw a worth spike of around 30% earlier on yesterday. However, at the time of reporting, Waves [WAVES] is ranked at the 19th position, presently trading at a price around $3.84 USD which is 10.58% lower than yesterday with market capitalization of around $384 Bln.