News
Cosmos’s Informal Systems Completes $5.3 Million Financing Led By CCMC Global
Key Points:
- Informal Systems collected $5.3 million to fund its efforts as a Cosmos ecosystem core development team.
- The round was headed by CMCC Global, with participation from Nascent, Maven11, and others.
- The funds will be used to expand Informal Security, the company’s security auditing business.
Cosmos development company Informal Systems completed a financing of $5.3 million.
CCMC Global led the investment, and Nascent, Maven11, and individual investors from Celestia and EigenLayer participated in the investment.
This round of financing aims to support the work of the core development team of the Cosmos ecosystem and will be used to promote the development of the company’s security audit department, Informal Security.
After the successful introduction of Replicated Security, the Informal Systems and Cosmos teams have been working on a Living Roadmap. This roadmap contains work from Informal’s Cosmos Hub team in the deployment, implementation, or later design stages.
Informal Systems is an employee-owned company that develops a wide range of open-source software with a focus on the Cosmos Ecosystem. Informal is a key contributor to Cosmos, where we use formal verification tools and approaches to build interoperable blockchain systems.
Tendermint Core, the Cosmos-SDK, IBC, and the Cosmos Proof of Stake modules comprise the Cosmos technology stack, which is an industry-leading Go toolkit for creating, deploying, and operating blockchains. Now, this technique is being utilized to safeguard billions of dollars in crypto market value.
Informal Systems has been instrumental in building technology that supports blockchains in the Cosmos ecosystem, notably the Cosmos Hub. It contributed to the development of Interchain Security, a method enabling blockchains to rely on the Cosmos Hub for security rather than operating their own sets of validators.
The company also has a project called Collaborative Finance that aims to combine Cosmos technology with financial products to deliver company liquidity platforms. It intends to elaborate on its objectives in a future whitepaper.
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Harold
Coincu News
Author: Harold
