Leading Next-gen Public chain Ultrain Raises $20 Million at 200 Million Valuation
Jul 30, 2018, 08:51 ET
BEIJING, July 30, 2018 /PRNewswire/ -- 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, in order to support tangible and real business applications as a trust computing infrastructure. It has a powerful 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 at leading European investment bank goetzpartners GmbH focusing on cross boarder 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 establishment of 15 local community hubs around the world. Together, innovative theory, engineering experience, and business operation ability, common barriers to entry in the Blockchain industry, instead form the competitive edge of Ultrain.
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 own R-POS consensus mechanism, performance and efficiency can be greatly 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 its earlier product launching this month, and there are still room for major enhancements.
The current public chains have another major limitations on the smart contract layer that is not often discussed, but are 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 logics. In addition, Robin Framework utilizes the concept of Operating System Design, the codes will be run under multi-layer processes and cross consensus. This major breakthrough is the key for any public chain to support concrete and complex business applications, and its realization by Ultrain is sound proof for its own mission- Creating a programmable business society.
Last by not least, Ultrain's global financial and business resources and capabilities are 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 previously achievements in the US, Europe, Israel and Asia, Ultrain was able to quickly install 15 international community hubs such as New York, Silicon Valley, and Munich. All hubs are supported by top business influencers of that local market, both in the traditional world and the crypto space. It helped Ultrain be quickly recognized in the market by both investors and ecosystem candidates. It also has a unique angle to be the perfect bridge between the conventional business world to the decentralized, blockchain world with their reputation and top networks in the space, to expand the scope and scale of the market into one that has unlimited space for imagination.
Among the bearish market where dozens of projects have failed to reach their hard cap, the success of Ultrain's fundraiser 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, solid global business development skills, a strong track record, and a founding team that shares an entrepreneurial spirit and good value, is hard to find in today's market.
Managing Director of DHVC Kevin Ding stated: "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 expertise in establishing a true 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 support the future blockchain applications. We really like and trust this team and will continue to support its future development. "
The key for any technology infrastructure is to create a successful ecosystem on top. Ultrain with the mission of creating a programmable business society - solved critical bottleneck issues from the technology side - is likely to be the most viable option to support concrete business scenarios by installing the perfect and useable block chain infrastructure.
Website: http://ultrain.io
Telegram Group: https://t.me/ultrainchain
SOURCE Ultrain