CasperLabs announced the results of its series A funding, a whopping $14.5 million. The first round was led by Terren Piezer. An international financier who serves as the chairman of the Acuitas Group Holdings. An investment company based in Los Angeles.

Terry Piezer, popularly known as the Zelig of Wall Street; had previously announced that the funding would help the company develop further products and hire more engineers. Other investment firms that took part in the funding included; Arrington XRP Capital, Digital Strategies, MW Partners, Axiom Holdings Group, Blockchange Ventures, Distributed Global and Hashkey Capital. 

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<h2>CasperLabs Ethereum  Proof-of-Stake Consensus</h2>
The Blockchain startup, CasperLabs is attempting to transform the Ethereum algorithm; by developing the correct by construction Casper <a href="https://www.investopedia.com/terms/p/proof-stake-pos.asp">Proof-of-Stake consensus</a>. CasperLabs plans to allocate the new funds into the project and help further development of the concept.

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The Chief Executive of ADAPtive Holdings Ltd,Mrinal Manohar stated how humbled they were to be part of the Series A funding of a blockchain leader. ADAPtive Holdings is the  parent company of CasperLabs. Nevertheless, Manohar noted the following;

We look forward to delivering several interesting technical updates in the coming months and welcome any and all feedback via our open source code repository on Github.”

Terren Piezer also added similar sentiments and stated that they have been waiting for an innovation that could strengthen and decentralize aspects of the public chain; with security, scalability and speed of a next generation platform. 

“Scalability of a product and company is the leading driver of value creation. Consistently, the most proficiently scalable company becomes the industry leader.”
<h2>Bottom Line</h2>
Meanwhile, it is worth noting that CasperLabs hired <a href="https://medium.com/@Vlad_Zamfir">Vlad Zamfir</a>, a Foundation Researcher for Ethereum as the lead architect for the consensus protocol.Meanwhile in March, Zamfir publicly stated that Ethereum isn't safe, scalable and referred to it as an immature technology. Furthermore, the researcher went ahead to urge the public to not rely on the <a href="https://www.cryptoknowmics.com/crypto/ethereum-mixing-service-could-be-used-to-vote-anonymously-in-a-dao/">Ethereum</a> platform for critical application, especially when its use could be avoided.

Blockchain Firm CasperLabs Raises $14.5 Million in Series A Funding

CasperLabs announced the results of its series A funding, a whopping $14.5 million. The first round was led by Terren Piezer.

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience.

Blockchain Firm CasperLabs Raises $14.5 Million in Series A Funding

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