[ad_1]
Decentralized blockchain platform based on China and Ultrain received investments from NEO Global Capital (NGC).
Financial details have not been disclosed
Financial details have not been disclosed, but this follows previous investments from Arrington XRP Capital, Draper Dragon and DHVC. Ultrain plans to use the funds to build its cloud infrastructure.
Emma Liao, co-founder of Ultrain, stated that "traditional public blockchains do not meet the high demands of tomorrow's applications" and its cryptography "addresses security concerns and uses the computing power released to create real value for the new economy ".
Founded in 2017 in Hangzhou, Ultrain's founding team is made up of cryptographers and technicians from Alibaba and Ant Financial, including former security manager Alibaba, Ray Guo; head of the IOT investment of Qihoo 360 and head of China of goetzpartners, Liao; former technical chief and chief architect of Ant Financial's blockchain team, William Li; former core architect of Alibaba's Cloud OS team, Yufeng Shen; and former cryptology expert at Ant Block's blockchain team, Husen Wang.
The company claims to have taken a hybrid approach to improve the performance of the technology. Incorporating the artificial intelligence (AI) and internet of things (IoT) protocols into its platform, Ultrain aims to create an end-to-end ecosystem for decentralized applications (dApps) in a variety of industries, such as logistics, entertainment, medical care and finance.
Through the development of cryptography, Ultrain explains that it has also created a new consensus mechanism that can increase the performance of the public blockchain by 1,000% compared to traditional work trial networks.
[ad_2]Source link
