DePIN infrastructure startup DePHY completes multi-million dollar seed round financing, with participation from Paramita and others

2024-02-16 22:14:11

Collection

ChainCatcher news, DePIN infrastructure DePHY has completed a multi-million dollar seed round financing, with a valuation of 40 million dollars. Investors include Paramita, Foresight Ventures, Blockchain Builders Fund, IoTeX, FutureMoneyGroup, Waterdrip Capital, DefinanceX, PAKA, and Candaq Fintech Group. The funds raised will be used for the expansion and operation of the developer community and platform projects.

DePHY is an integrated DePIN framework that significantly reduces the costs and timeframes associated with DePIN project development. It provides open-source hardware solutions, a decentralized messaging layer, and automated tokenomics execution for all DePIN projects. The messaging layer of DePHY utilizes Trusted Execution Environments (TEE) and Zero-Knowledge (ZK) attestators to ensure data verifiability and low latency, facilitating secure, verifiable, and rapid data transmission from hardware to blockchain.

(Source Link)

Related tags

DePIN DePHY Paramita

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.

DePIN: New Trends in Old Tracks

Decentralized Physical Infrastructure Networks is not a new concept. With the current AI boom, it has gained renewed attention. What are the new trends and projects in DePIN?

Topic or theme