Seed Funding Worth 20 Million USD

Colin Baseman

AMD along with another company known as ConsenSys managed to raise twenty million USD. The partners obtained this massive sum of money through the sale of convertible notes.

The two giants have finally received more than twenty million USD in funding. According to recent reports, the companies announced that they obtained the mentioned funds through the sale. This involved convertible notes that went to the founding firms. Besides several firms, they also reached a few family offices located in the United Arab Emirates. The official representatives of AMD confirmed that parallel and distributed computing that concentrates on blockchain usage instances is a segment that has lately been actively developing and enhancing the entire industry.

AMD is responsible for the creation and design of the most advanced hardware technologies whose main feature is high performance. These innovations are required for the optimization of the decentralized infrastructure related to computing. At the same time, ConsenSys will find out various software solutions aimed at blockchain. The company will also engage in development and carry out thorough research projects.

Ecosystem Needs Infrastructure to Grow Further

Some experts explain that the ecosystem requires an infrastructure of an industrial grade. Only then will it be able to reach mass application. They also note that the cloud infrastructure used nowadays is not optimized yet which makes ETH transactions impossible. Analysts also include decentralized workloads that need the same approach and patterns. The developers admit that currently, the company is capable of working on other blockchains. However, the network’s size and the number of people it attracts make the team reconsider their previous views.

The first finding cycle will provide certain finance to the partners so that they could develop the first data centers. This infrastructure is useful for the platform and will help its ecosystem develop further. The modern market opts for robust data centers that can scale. Economies that are decentralized need dedicated centers that can cater to the current permissionless and trustless structure. The innovation will unite the GPU producer and the blockchain creator to establish the computing infrastructure that would, later on, be applied to the blockchain economy.

Blockchain Services Are Available on Cloud Platforms

Crypto analysts predict that the firm intends to offer the right form of infrastructure. They also note that the companies can apply the GPU approach to several other traditional areas. Their main priorities are storage, video transcoding as well as rendering and machine learning. W3bcloud, as many specialists believe, will find many customers and some of them are already in negotiations.

Fortunately, progress continues to cover more and more territories and we can see several cloud platforms that are ready to offer blockchain services. Adoption is steadily growing and many areas find this new technology quite efficient and useful. One of the first users became Google – its marketplace found it necessary to add development software of ONT.

The mentioned cryptocurrency known as Ontology is corporate-oriented and has been functioning since 2019. Even though the project is relatively new, it has found plenty of areas where companies can apply it and make their businesses more successful.