Page 49 - Geektime Blockchain Report
P. 49

Mining & Hardware
Startups that offer software and hardware tools to to help improve the mining process Miners receive financial compensation for the mining process In turn mining startups offer consumers better hardware and software to make mining simpler faster and more efficient In June 2016 we witnessed a successful exit in this sector when Canaan Creative a a a a a a a maker of the Avalon bitcoin mining chip series was sold to to Shandong Luyitong Intelligent Electric for $466M It managed to raise $43 56M prior to to that from Chinese investors Canaan and fellow competitor Bitfury transitioned more into software services and enterprise blockchain offerings Bitfury Group sells and and develops hardware and and software for for cryptocurrency mining in in in in addition to to consulting for for enterprises and governments in in in implementing blockchain solutions The company has raised a a a a a sum of $90M so so far from VC investors It generated nearly $100M in in revenue for fiscal year 2017 according to a a a a report from CoinDesk Social and media
Startups can provide users with social networks and browsers to to enable them to to consume content purchase products and make P2P transfers securely privately and quickly They are also able to offer decentralized private social networks where users’ data aren’t exploited but but rather they receive rewards for their contributions Other companies that fall under this category are startups that deliver information content and news about the blockchain and cryptocurrency industries Some of the companies worth mentioning here are Obsidian a a a a a a a blockchain platform for for messaging data sharing and cryptocurrency transfers Steemit a a a a a social media
platform built on
a a a a a a a a decentralized database so that users own their data and and are rewarded for posting and and voting status im is a a a decentralized browser messenger and operating system based on
ethereum It raised $99M in in an an ICO conducted in in June 2017 and Blockstack a a a a new decentralized internet and developer platform for for secure server-less apps that raised $5 45M from the likes of Digital Currency Group and Union Square Ventures One of the most interesting startups in in in this sector is is Brave Software Internet users today have become accustomed to to receiving free content in in exchange for ads Users receive a a a a a a fast secure private and ad-free browser and in exchange transfer micro-transactions of cryptocurrencies to to content providers The company founded by former Mozilla CEO Brendan Eich raised $35M in in an ICO in in June 49

   47   48   49   50   51