NEW YORK, NY / ACCESSWIRE / August 1, 2018 / Ultrain, the next generation public-blockchain technology venture that was supported by Morningside, Bluerun Ventures, Aplus Capital and DraperDragon, announced that it has again raised a $20 million at 200 million USD valuation from global top venture capital firms and crypto funds, including Danhua Capital (DHVC), Sky9 Capital, FBG Capital, Ceyuan Venture, 8 Decimal Capital, ANMI, NGC Capital, Arrington XPR Capital, CPC Capital, Noris Capital, Du Capital, DFG, OK Gang Fund (OK Exchange Strategy Partner), Evolution Capital, Bixin Capital, Chain PE ,Consensus lab, Mix Capital, CryptoSA Capital, Sailor Capital, Norther Capital, Bitblock Capital, Spark Digital Capital, CDC Capital and more.
Founded in 2017, Ultrain is committed to resolving blockchain bottlenecks both from the consensus layer and the smart contract layer, to support tangible and real business applications as a trust computing infrastructure. It has a dominant founding team with 3 very complementary members from the technology and business side; the co-founder and CEO Ray Guo, former Director of Alibaba Security Unit in charge of data security strategy and previously 10 years at IBM GBS team; Emma Liao, Co-founder and CSO, former Managing Director of Golden Brick Capital, head of IOT investment of QIHU360 and head of China of a leading European investment bank goetzpartners GmbH focusing on cross-border M&As; and William Li, Co-founder and CTO, the former Technical Director and Chief Architect of Ant Financial Blockchain team. Recently, the team has officially invited world-renowned economist, Dr. Jin Keyu to join Ultrain as an advisor to design and build a sustainable token economy. Dr. Jin is the youngest tenured professor of the London School of Economics and Political Science and a board member of the global top Luxury group, Richemont Group.
Ultrain demonstrated its capability of generating advanced innovative theory, as well as capable engineering capacity and proficient global operation, through its recent announcement of "R-PoS consensus mechanism," "Robin Developer Framework" and the establishment of 15 local community hubs around the world. Together, innovative theory, engineering experience, and business operation ability form the competitive edge of Ultrain and a barrier to entry in the Blockchain industry.
Ultrain resolves the performance limitation with its breakthrough approach in cryptography to push the boundary of the "impossible triangle" - namely security, decentralization, and performance. Based on its R-POS consensus mechanism, performance and efficiency can be significantly improved through limited numbers of voting nodes and proposers, while random selection assures a secure environment within the decentralization network, the near target of TPS can be up to 20,000. Ultrain has achieved more than 3,000 TPS with a confirmation time less than ten seconds in it's earlier product launching this month, and there is still room for significant enhancements.
The current public chains have other significant limitations on the smart contract layer that is not often discussed, however, a major bottleneck for supporting developers and applications. Ultrain has already launched a user-friendly, efficient and compatible smart contract framework- Robin Framework, which operates on TypeScript, one of the most user-friendly language, and will be supporting the end developers and enterprise users with no limitations of code length nor complex logic. Besides, Robin Framework utilized the concept of Operating System Design; the codes will be run under multi-layer processes and cross consensus. This breakthrough is the key for any public chain to support concrete and complex business applications, and its realization by Ultrain is soundproof for its mission - creating a programmable business society.
Last but not least, Ultrain's global financial and business resources and capabilities are much needed and rare to find in other similar projects. One of the founders, Emma Liao, as Ultrain's Chief Strategy Officer, completes that part beautifully via her previous achievements in the US, Europe, Israel, and Asia, Ultrain was able to quickly install 15 international community hubs in New York, Silicon Valley, Munich, etc. All hubs are supported by top business influencers of that local market, both in the traditional world and the crypto space. It helped Ultrain with its quick recognition in the market by both investors and ecosystem candidates. Moreover, it has a unique angle to be a perfect bridge between the conventional business world to the decentralized, blockchain world with their reputation and top network in the space, to expand the scope and scale of the market to unlimited space for lots of imaginations.
Among the bearish market where dozens of projects have failed to reach their hard cap, the success of Ultrain's fundraise is a positive signal and a strong indication that the market and the investors are still supporting real top quality projects. Needless to say, a three-dimensional project with Ultrain's organic innovative theses and know-hows, top engineering capability in massive traffic and complex industrial environments, and its solid global business development skills and with strong previously successful track records, and a founding team shares entrepreneurial spirit and good value, is hard to find in today's market.
Managing Director of DHVC Kevin Ding pointed, "The founding team of Ultrain includes key members from Alibaba and Ant Financial, which demonstrates its ability on in-depth research and practical experience in the core technology of Blockchain. Meanwhile, Ultrain has an experienced co-founder handling the business operations with the top ability to established a truly global community. We are looking forward to all the positive surprises along the way."
The founder of FBG Vincent Zhou commented, "Ultrain supports a variety of potentially large-scale business applications through an innovative consensus mechanism coupled with a developer friendly and efficient smart contract engine. At the same time, its capital and business resources on the global scale can well support the future application of blockchain. We really like and trust this team and will continue to support its future developments."
The key to any technology infrastructure is to create a thriving ecosystem on top. Ultrain with the mission of creating a programmable business society - solved the most bottleneck issues from the technology side - is likely to be the most viable option to support concrete business scenarios by installing the complete and usable blockchain infrastructure.
Website: http://ultrain.io
Telegram Group: https://t.me/ultrainchain
Media Contact: [email protected]
Investors That Participated in The Latest Round of Financing
SOURCE: Ultrain
