Cryptocurrency News

Blockchain platform raised $ 12 million to create DAP like JavaScript



Reich, a blockchain development platform for decentralized applications, has raised $ 12 million from investors to pursue its goals of simplifying the DAP creation process, the company announced on May 26.

The latest funding round takes the total amount raised by Reach to $ 48 million, as the firm aims to produce a programming language such as JavaScript for use in building blockchain applications. Currently, most major blockchains launch with their own unique programming languages, which means that applications built on each platform are rarely compatible with any other.

Reach launched in 2019, and so far has achieved compatibility with Ethereum and Algorand Blockchain, with plans to extend the compatibility of its code compiler to fit any network.

Reich founder and CEO Chris Swainer said the fundraising brought the project closer to becoming the main platform for interoperable DAP development.

“This investment accelerates our path to becoming the primary method of building the world’s decentralized applications that will form the basis of global connectivity. We are thrilled by the speed we have seen so far and the unprecedented support from investors and leading networks that make blockchain mainstream To share in our vision, ”said Svenor.

Ethereum is already home to the largest percentage of blockchain developers, including twice as many As the most prominent cryptocurrency, bitcoin (B T c), According to some reports. Algorund launched in 2019 with the goal of enhancing the performance of the blockchain – a goal that has since progressed with 1,000 transactions per second and a sub-cent fee.

Algorund CEO Steve Kokinos spoke on the importance of simple programming languages ​​that are accessible to all developers – something that must be achieved in order to realize Algorund’s vision.

“We believe it is important to empower all developers with simple languages ​​that put security and accuracy at the forefront. This ties in with our vision for the future of finance where smart contract infrastructure is worth billions of dollars worldwide And will support the exchange, “Kokinos said.