Binance’s $10 Million Investment Fuels Blockchain Project: Unveiling the Future of Cryptocurrency

  • Neutron, an smart contract protocol based on Cosmos, has raised $10 million in a seed funding round led by Binance Labs and CoinFund.
  • CoinFund will contribute to the funding, which will help develop Neutron’s blockchain software and promote growth within its ecosystem.
  • The increasing market demand for layer-2 (L-2) solutions and Neutron’s support for Rust, the second most popular smart contract language, make it well-positioned to meet the needs of the market.

CoinFund has partnered with Neutron to support the development of its blockchain software and foster growth within its ecosystem. The seed funding round, led by Binance Labs and CoinFund, has raised $10 million for Neutron, a smart contract protocol operating within the Cosmos ecosystem.

Neutron Raises $10 Million in Funding Led by Binance Labs and CoinFund

Alex Felix, the Head of Investments at CoinFund, commented on the funding round, stating that Neutron will significantly address the growing market demand for layer-2 solutions:

The market demand for application chains and layer-2 solutions is rapidly increasing. Additionally, Neutron provides essential tools and supports Rust, the world’s second most popular smart contract language.

Neutron, which launched its mainnet in May, is designed to enable the creation of smart contracts using CosmWasm within the Cosmos ecosystem. It also allows developers to write code in the Rust programming language.

The company did not disclose its valuation despite raising $10 million in the funding round.

Binance Labs, the investment arm of Binance, recently announced that it has selected five projects to invest in as part of its incubation program.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Bitcoin: CEXs Record 7,918 BTC Net Outflow in 24 Hours — Coinbase Pro Drains 6,363 BTC, Binance Adds 571 BTC

COINOTAG News on September 18, citing Coinglass data, reports...

DeAgentAI (AIA) Surges 215% After Binance Alpha Launch on Sui Ecosystem, Peaks at $0.6315

On September 18, Binance Alpha announced the launch of...

BNB Market Cap Hits $139.01B — Surpasses ExxonMobil, BYD and Pfizer to Rank 156th Globally

COINOTAG News reported on September 18 that, per 8marketcap...

$BNB BREACHES $1,000 FOR THE FIRST TIME

$BNB BREACHES $1,000 FOR THE FIRST TIME Link #BNB

K33 Research: About 25% of Publicly Traded Bitcoin Treasury Companies Have Market Caps Lower Than Their Bitcoin Holdings

On September 18, COINOTAG cited K33 Research data showing...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img