Bitmain invests in Singapore based ICO: Lambda

BTC Wires: A great feat for Chinese bitcoin mining equipment manufacturer, Bitmain, has been in the talks lately. It has been reported by Lambda, a blockchain data storage startup, that Bitmain has invested a hefty sum of capital in their enterprise. It is anticipated that the investments brought forward by Bitmain will see the startup explore more areas in relation towards developing secure blockchain-based decentralised apps or dApps. Lambda happens to be a startup based out of Singapore has apparently conducted a token sale already that got a good number of investments from names like BluHill, BlockVC, Zhen Fund and FunCity Capital. The next milestone that the startup is eyeballing is to raise about $5 million towards its ICO.

Having claimed itself as a “high-speed, secure and scalable blockchain infrastructure”, offering a several vivid modules such as trusted and secure data storage, privacy data protection, public data access and transaction, scalable dApp and blockchain support. Other services followed by Lambda include artificial intelligence data, storage and IoT. What could be interesting to see her si how the startup keeps its promise of achieving infinite scalability. In reply to this, the startup mentions that it “[logically] decouples and separate implementation of Lambda Chain and Lambda DB” to make things happen as per their plans. With regards to this, Xiaoyang He, CEO of Lambda has this to say:

“Bitmain has demonstrated its commitment to expanding strong, Dapp blockchain companies such as Lambda. This investment from a global industry leader is a significant endorsement and recognition of Lambda’s longstanding dedication in creating a world-class blockchain-based storage solution.”

On the other hand, Bitmain’s interest stems from the fact that they believe blockchain storage is an intriguing area to explore. The company has expressed positive views with respect to the the development plans that Lambda has chalked out. On being asked about their investment in the startup, Bitmain pointed out towards the Lambda’s technological vision, feasible roadmap, and present progress as the chief attractions. Bitmain’s interest in blockchain startups is not a new thing within the ecosystem. The comply has already invested $500 million toward building a data mining facility in Texas. Also, they have also harnessed a blockchain-based fraudulent prevention startup, by the name of TribeOS.

Dmitriy

Having majored in Social Psychology and Economics, I worked as a team lead of a tech and fundamental analysis lab in the Applied System Analysis Research Institute. I write financial articles for various international media. I also hold the position of a Chief Analyst at RoboForex.