In a significant move, IDG Blockchain, a leading venture capital firm focused on blockchain technology, announced a co-lead investment in U2U Network's seed round. This investment underscores IDG's commitment to accelerating the mass adoption of DePIN technology.
What is DePIN?
DePIN stands for Decentralized Physical Infrastructure Networks. It's a novel approach that leverages blockchain technology to create a universally accessible network of computing resources. This market is expected to reach $3.5 trillion by 2028 and U2U Network is at the forefront of this exciting new frontier.
U2U Network's Technology
U2U Network is building a comprehensive ecosystem for Web3 developers. Their core offering is a Modular Layer-1 Network with a DePIN Ecosystem. They are revolutionizing how digital resources are shared and utilized through their innovative Subnet Technology.
U2U Subnets: Scalability
U2U Subnets are a solution that enables unlimited scalability. These independent blockchains operate around the U2U Mainnet, ensuring uninterrupted functionality even during downtime on the mainnet. Additionally, each Subnet focuses on specific tasks, maximizing performance. Transaction verification occurs directly on the Subnets, enhancing security and efficiency.
U2U Network: DePIN Marketplace
U2U Network envisions a future with a decentralized marketplace for digital resources like internet bandwidth, storage space, and valuable data. This DePIN Marketplace will cater to a wide range of users, from small businesses to large government entities. By facilitating resource exchange, U2U Network unlocks new economic opportunities and drives efficiency across various sectors.
Team
U2U Network boasts a team of over 120 members and 40 contributors with experience at leading companies like Kardiachain, Google, and Infina. Their advisor team includes experts from prestigious universities like Stanford and RMIT.
Strategic Partnerships
IDG Blockchain's investment extends beyond just capital. They will specifically support U2U Labs' research and development efforts to refine the Subnet Protocol and create developer engagement tools. This collaboration will also accelerate the development and integration of DePIN technologies, including user-friendly hardware devices.
The Future
U2U Network and IDG Blockchain share a vision of widespread adoption and innovation in DePIN. This strategic partnership combines IDG's financial resources and expertise with U2U Network's cutting-edge technology to propel DePIN development forward. This investment marks a significant step towards a future powered by decentralized physical infrastructure networks.
About U2U Network:
U2U Network is a pioneering modular chain built on top of DAG and compatible with EVM. Setting sights on becoming a comprehensive ecosystem for Web3 builders, U2U Network is dedicated to delivering a robust infrastructure emphasizing a Modular Layer-1 Network and a DePIN Ecosystem. Leveraging the innovative Helios Consensus mechanism, U2U Network's Modular architecture bring an impressive throughput of 17,000 transactions per second (TPS) and a finality time of approximately 350 milliseconds, ensuring high performance, efficiency, and Ethereum Virtual Machine (EVM) compatibility. All this makes our network structure a perfect fit for DePIN.
Website: https://u2u.xyz/
X Account: https://twitter.com/uniultra_xyz
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About Investor
Investor: IDG Blockchain
Description: IDG Capital has been sculpting the future of innovation in Vietnam since 2004. With over 20 years of experience, a new fund with a focus on Blockchain, AI and other frontier technologies has been established. IDG look for early-stage, high-potential startups that can draw on their expertise to take on new challenges of the future.
Website: https://idgblockchain.vc/
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