Bloomberg Protocol and Moov Reach $10 Billion Market Cap
Earlier this week, the Bloomberg Protocol, a decentralized autonomous organization (DAO) that facilitates the exchange of assets across the blockchain, raised $35 million in a new round of funding led by Tiger Global. Now, the company has announced that it has reached a market cap of over $10 billion. Here we will discuss about Blockchain Near 10bhuetbloomberg Protocol 350m Tiger.
Also Read: australia ndis gets app with blockchain
Funding round led by Tiger Global
Moov, a data-fueled marketplace for used manufacturing equipment, closed a $41 million Series A funding round led by Tiger Global. The investment will help the company hire executives and expand its domestic presence.
Tiger Global Management has committed $1 billion to seed funds, marking its first such commitment in the private market. The fund will invest in internet-enabled enterprise software, consumer startups and India. It will make investments over the next two years.
Tiger Global has led or co-led two seed rounds this year, including its lead investment in RareCircles, an all-in-one NFT membership platform for powerful NFT memberships. It has also invested in digital health startups, including Parallel, which matches students with care teams.
Tiger Global’s private portfolio declined in the third quarter. It’s also set to close its PIP 16 fund in January. The fund will have a 1.75% management fee. It will also write down the value of its private portfolio. The firm initially told clients it planned to raise $8 billion for a new fund.
Co-founder Illia Polosukhin discusses layer one protocol’s rapid growth
During a recent interview, Co-founder of NEAR Protocol, Illia Polosukhin, discussed the protocol’s growth and the NEAR token’s market cap. He also discussed what he considers to be the protocol’s best features and what to look out for as we move forward.
There’s no denying that the NEAR Protocol has enjoyed a healthy surge in popularity, attracting over 1,700 monthly active developers. In fact, the native NEAR token has doubled in value in the last four weeks. In addition, the community has also been making headway in several regions, with plans for regional expansion underway.
One of the most notable features of NEAR is the composability factor. The network allows messages to be passed between shards, enabling contracts to work in parallel. Also, there’s the Rainbow Bridge, which lets users transfer assets for free.
NEAR is also a good example of how scalability can be achieved without sacrificing composability. To illustrate, NEAR’s smart contract can hook into tooling to make editing videos on the blockchain a breeze.
NEAR’s market cap is more than $10 billion
Founded by Erik Trautman, NEAR is a proof-of-stake protocol with an eye on scalability. It uses Nightshade technology, a variation of sharding, to achieve near-instant finality. It also uses Doomslug, a proof-of-stake algorithm that allows transactions to be processed in parallel across multiple sharded chains. Its main goal is to become the world’s first true sharded network.
Its current native token, the NEAR, has fallen by the wayside over the past few weeks. Still, it’s a nifty little coin that’s worth a look. A recently released non-custodial mobile wallet, Sender, has garnered more than 300k downloads.
While NEAR isn’t the first company to use sharding, it is the first to make it happen on a large scale. Its network has processed 70 million transactions and supports over 2.3 million accounts. It’s also built a bridge to Ethereum.
The NEAR protocol also has a few other major claims to fame. It’s the first to use a proof-of-stake consensus mechanism that’s scalable enough to handle a million transactions a second. It’s also the first to achieve near-instant transaction finality.
Company’s decentralized autonomous organization (DAO) partnerships
Using the decentralized autonomous organization (DAO) concept, a number of entrepreneurs are handing over ownership of their projects to the community. These communities are organized around a set of rules enshrined in code and enforced by the blockchain.
These rules remove the hierarchy, which was present in traditional organizations. They also allow all stakeholders to participate in the process. Proposals are voted on by the community. This process can be faster than passing a resolution in a corporation.
However, these organizations are still in their infancy. They are not yet recognized as legal entities in the United States. This could affect participation by businesses and institutional investors.
DAOs could also replace intermediaries in certain sectors. For example, a DAO could replace an intermediary financial institution in cross-border money remittances. It could also replace patient-history management in the healthcare industry.
However, the DAO market is still in its early stages. It needs to be addressed before it expands.
