PureStake “bet” $ 6 million on the dark horse Moonbeam in the technology race

PureStake “bet” $ 6 million on the dark horse Moonbeam in the technology race


2021-04-02 00:21:27

Moonbeam completed the PureStake developer $ 6 million strategic funding round. The main investor is CoinFund, which also includes the participation of Binance Labs, ParaFi, Coinbase Ventures, Fenbushi Capital, IOSG Ventures and previous seed investors.

PureStake said it will use this funding round for various development activities of the company. Intentions include hiring developers and building additional integration tools. The funding will also support third-party security audits and help Moonbeam establish a market presence in Asia. If these developments are successful, PureStake hopes to launch Moonbeam in Q3 / 2021.

Moonbeam is one of the most prominent projects in the Polkadot ecosystem. Since the launch of the testnet, dozens of projects began to integrate with the Moonbeam network, including SushiSwap. As a Polkadot parachain, Moonbeam will also benefit from the security of Polkadot’s relay chain and integration with other chains.

As a smart contract platform on the Polkadot network. What makes Moonbeam unique is its Ethereum compatibility. This makes it easy for users to build natively interactive applications. This Ethereum compatibility allows developers to deploy smart contracts written in the Solidity programming language with minimal changes.

PureStake intends to take a multistage approach to launching the Moonbeam network. This is similar to Polkadot’s process. First, PureStake launched a live testnet parachain. After that, a Moonriver beta will be deployed to the Kusama test network. Finally, PureSteak will launch the Moonbeam network for Polkadot.

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