Koinos Group, the Philadelphia, PA-based developer behind the free-to-use Koinos blockchain, raised $500K in Seed funding.
The round was led by Blockchain Founders Fund with participation from Splinterlands.Founded in 2020 and led by CEO Andrew Levine, Koinos Group is advancing, Koinos a general purpose blockchain that enables developers to create free-to-use decentralized applications (dApps) using any programming language, lowering the barriers to entry for decentralized innovation. This makes it easier and faster to launch high-performance applications with user experiences on par with Web2 applications. Having successfully launched the Koinos main net, the roundwill enable Koinos Group to develop Koinos Pro, a subscription product that helps developers build and scale decentralized applications with no barriers to entry.The Koinos main net is a thoroughly decentralized network that went live on November the 5th and was launched without an Initial Coin Offering, pre-mine, or any other early distribution to insiders. Its novel “Mana” system makes it free-to-use, allowing users to create accounts, transfer tokens, create NFTs, and execute smart contracts, all for free. Mana is not a token, but a unique property of the KOIN token which allows free usage of the network and can be delegated to others, enabling those who don’t hold any tokens at all to use the highly accessible blockchain. 19/01/2023
