Hashgraph Raises $100 Million, Now Valued at $6 Billion

Hedera Hashgraph, a company using an improved blockchain version that claims to be faster, securer, and more scalable than existing blockchain networks raised $100 million in a private, funding round.

As reported by VentureBeat on August 1, 2018, the Dallas-based Hashgraph raised funds via a futures contract sale worth $100 million to undisclosed institutional investors.

The company believes institutional investors realize the gap filled by Hashgraph.

Hermon added the presence of more clusters on the Hashgraph network could potentially scale up to and support "Millions of transactions per second."

For the uninitiated, the Hashgraph whitepaper describes a novel approach to distributed consensus - or verifying transactions without the need of trust between participants - circumventing protocol methods used by the likes of Bitcoin and Ethereum.

So the latest Hashgraph valuation is SIX BILLION DOLLARS. pic.

As mentioned earlier, Hashgraph aims to utilize much of the raised funds towards developing its micropayments system while augmenting its network of node clusters.

Referring to the rise of blockchain-based games, Hermon stated Hashgraph finds use in gaming applications requiring a high output of data, such as multiplayer games.

Interestingly, Hashgraph started out as an independent project for Hermon in 2014, before a group of 39 companies joined hands in 2017 to form the Hedera Hashgraph Council.

Harmon stated the massive $100 million raise is unlike traditional ICOs, as Hashgraph fully intends to issue tokens at a later date.