HOPR Announces Binance Labs is Leading $1M Investment Round

July 10, 2020      Vandana Malik

HOPR, a data-privacy protecting firm has recently announced along with Binance that Binance Labs is currently leading the $1 million investment round. This news is coming right before the token sale of the company. In the announcement, it has been mentioned that this is the first investment of Binance Labs, this year. It led the investment round along with Caballeros Capital, Focus Labs, Synaitken and Spark Digital Capital.

HOPR provides tools and frameworks for Web3 ecosystem 

HOPR provides a proper framework and tools for its Web3 ecosystem. This ecosystem is there to provide proper privacy to the users while making sure their data and identity are protected while navigating. Gin Chao, the strategy officer at Binance has said that his firm is extremely excited to lead this investment round. He said that the firm is delighted to support the team of cryptographers, scientists and the developers who are quite talented and experienced. The major purpose of this investment round is to work on the development of new technology of the firm. Along with this, it will also help the firm to recruit more team members to do the same.

First open incentivized mixnet

As the main function of HOPR is protecting privacy, it provides network-level and metadata privacy features to different data exchanges. Along with this, it has also introduced the first open incentivized mixnet which provides tokens to users for running nodes. Dr Sebastian B├╝rgel, co-founder of HOPR has said that in the world of decentralized finance, there is a high need for a new privacy foundation. The firm is building up a layer-0 privacy infrastructure which will help to safely transmit the information. This is going to take the privacy-protecting feature of the firm at another level. He has also said that his firm is grateful to have great investors like Binance Labs and many others for their investment round.

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Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.