{"id":30464,"date":"2020-10-21T18:15:46","date_gmt":"2020-10-21T15:15:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=30464"},"modified":"2025-08-27T22:25:38","modified_gmt":"2025-08-27T19:25:38","slug":"mina-blockchain-protocol-developer-raises-10-9-million-from-prominent-asian-investors","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/mina-blockchain-protocol-developer-raises-10-9-million-from-prominent-asian-investors\/","title":{"rendered":"Mina blockchain protocol developer raises $10.9 million from prominent Asian investors"},"content":{"rendered":"<p>The team at O (1) Labs, behind the Mina blockchain project (formerly the Coda protocol), raised $10.9 million in funding. The round was led by Hong Kong&#8217;s Bixin Ventures and Singapore&#8217;s Three Arrows Capital, <a href=\"https:\/\/www.coindesk.com\/o1-labs-mina-protocol-funding-round-three-arrows\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">CoinDesk<\/a> reports.<\/p>\n<p><!--more--><\/p>\n<p>HashKey Capital, NGC Ventures and Fenbushi Capital also participated in the round.<\/p>\n<p>Total investment in the project now stands at $29.4 million: the team <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-companies-attracted-about-900-million-in-venture-capital-funding-in-the-third-quarter-of-2020\">attracted<\/a> $3.5 million in a seed round in May 2018 and $15 million in a Series A in April 2019 from Coinbase Ventures and Paradigm.<\/p>\n<p>The Mina mainnet launch is planned for early 2021. The protocol <a href=\"https:\/\/minaprotocol.com\/tech\" target=\"_blank\" rel=\"noopener noreferrer\">uses<\/a> zero-knowledge proof technology (zk-SNARKs), allowing proof of ownership of certain information without revealing it.<\/p>\n<p>Mina is distinguished by its exceptionally lightweight architecture \u2014 storing a copy of the Coda blockchain requires only 22 KB.<\/p>\n<p>The solution can interact with layer-one protocols and, it is claimed, is designed to address the problems of popular blockchains such as Bitcoin and Ethereum, which over time push users out of the competition.<\/p>\n<p>CEO of O (1) Labs, Evan Shapiro, noted that the Mina blockchain can be used to verify personal data or financial information. Third-party developers will have the ability to build decentralized applications that ensure privacy and computational efficiency.<\/p>\n<p>In Q3 2020, twelve cryptocurrency and blockchain startups <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-companies-attracted-about-900-million-in-venture-capital-funding-in-the-third-quarter-of-2020\">attracted<\/a> a total of about $897.7 million in venture capital. The average size of early deals was $7 million, seed rounds\u2014$2.1 million.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The team at O (1) Labs, behind the Mina blockchain project (formerly the Coda protocol), raised $10.9 million in funding. The round was led by Hong Kong&#8217;s Bixin Ventures and Singapore&#8217;s Three Arrows Capital, CoinDesk reports.<\/p>\n","protected":false},"author":1,"featured_media":30465,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[25,52,1179],"class_list":["post-30464","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain","tag-investments","tag-layer-2-solutions"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/30464","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=30464"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/30464\/revisions"}],"predecessor-version":[{"id":30466,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/30464\/revisions\/30466"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/30465"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=30464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=30464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=30464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}