HOUSTON, Sept. 15, 2020 /PRNewswire/ -- vChain Inc (www.vchain.us), the leading Open Source company for tamperproof ledger solutions, today announces the closing of a USD 4 million equity round, bringing the total raised in the last six months to over USD 11 million. New and existing investors have participated in this over-subscribed capital increase.
vChain's immutable and tamper-evident database solution restores trust and integrity in today's digital applications by giving developers an easy and secure way to store data secure from changes or tampering.
"The need for tamperproof transaction ledgers is an overriding requirement for any modern business," said Moshe Bar, CEO and co-founder. "Being able to prove irrefutably, and with cryptographic verification, who, when, and how executed a digital transaction is a top priority for any CIO. We created CodeNotary Ledger Compliance® because traditional data stores and ledger solutions are not able to give IT organizations the peace of mind about the safety of their data."
With CodeNotary Ledger Compliance®, organizations can track changes to sensitive data in their core applications, such as bank or credit card transactions, and then record those changes permanently, in an immutable, auditable, and secure database, guaranteed by the same cryptographic verification of traditional distributed ledger solutions. "CodeNotary Ledger Compliance® is today able to indelibly record millions of transactions a second, and therefore keep up with our most demanding core enterprise transactional environments. We run it on-premise, and in our cloud." said a top 10 US Bank IT executive.
The core engine of CodeNotary Ledger Compliance® is immudb (www.immudb.io), an innovative, immutable ledger database, which was released earlier this year to the public under the Apache version 2.0 license. Lightweight, and extremely fast, the immudb database for systems and applications is the first Open Source offering of this kind today. The Open Source community at large, as well as customers and partners, have received immudb with great enthusiasm, making it one of the top 10 trending projects on GitHub daily and weekly.
vChain will use the new funds to further expand sales operations in the U.S. and Europe, and to continue further development on its CodeNotary Ledger Compliance® solution, along with continued development for the Open Source immudb database.
The company was founded in late 2018 by Moshe Bar, and CTO Dennis Zimmer. Moshe Bar was previously a founder of Qumranet (acquired by Red Hat) which created the industry standard KVM hypervisor, and of XenSource, the makers of the Xen hypervisor (acquired by Citrix).
vChain employs a team with deep expertise in trust and integrity technology, cryptography, distributed ledger technologies, immutable databases, and certificate management. vChain is headquartered in Houston, TX, USA, with a team distributed in over 10 different countries.
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SOURCE vChain Inc