TrendsWide
Contact US
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
  • Home
  • Trending
  • Health
  • Life Style
  • NBA
  • Reviews
No Result
View All Result
TrendsWide
No Result
View All Result
Home Cryptocurrency

Cross-chain DEX Portal takes Bitcoin-based DeFi mainstream after successful $8.5M funding round 2021

by souhaib
September 21, 2021
in Cryptocurrency
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


Cross-chain DEX and self-hosted Layer 2 wallet Portal, which ensures quick, private, and secure atomic swaps between Bitcoin (BTC/USD) and other digital assets, closed an $8.5 million funding round to build a non-censorable, self-sovereign DeFi on Bitcoin. The announcement precedes their public token sale on Republic.co launchpad next month.

Funding round was led by Coinbase

The Coinbase Ventures-led funding round saw participation from Republic.co, Shima Ventures, LD Capital, ArringtonXRP Capital, OKEx, Monday Capital, GenBlock, Taureon, B21 Capital, Autonomy Capital, Krypital, the founders and senior executives of Ethereum (ETH/USD), DFINITY, Galaxy Digital, Bitcoin.com, MobileCoin, Republic, Hedera Hashgraph, Centre.io, Polymath, 4K, and more.


Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

Portal CEO Eric Martindale said,

“By bringing a fast, peer-to-peer, Layer 2 exchange — with the speed of centralized exchanges but with privacy — Portal is delivering on the promise of self-sovereignty for everyone. The current centralized exchanges, false “decentralized” DEXs, custodially wrapped tokens, and censorable ecosystems all threaten Bitcoin’s promise of self-sovereignty. Fabric technology enables Layer 3 privacy on cross-chain transactions and eliminates the need for centralized custodians.”

Brain Johnson of Republic Capital said:

“Interoperability is a necessity for blockchain to bridge into the mainstream finance world. Republic Capital invested in Portal with this future in mind. Utilizing Bitcoin’s security as an anchor, we believe the Portal and its team are in a unique position to build one of the leading bridges in DeFi.”

Combining trust minimization with liquidity and speed

Portal combines the trust minimization guarantees of Bitcoin and the liquidity and speed of centralized platforms. The DEX decentralizes finance using options, spot markets, and p2p lending and borrowing through peer to peer, on-chain contracts without any third party control or custody.

Michael Arrington, founder of ArringtonXRP and TechCrunch, said:

“Decentralized cross-chain bridging is one of the hardest problems in crypto right now, especially as multiple blockchains gain real traction. We’re excited to see Portal’s Bitcoin-native approach to multichain transfers go live and provide an alternative bridging mechanism to the growing number of active on-chain users.”

Cutting edge Fabric technology at core

Fabric, the Layer 2 and Layer 3 technology at the core of Portal, is an open-source toolbox for layering censorship resistance on top of the Bitcoin base. Fabric makes it possible to execute smart contracts for liquidity, P2P swaps, asset issuance, staking, and more privately and off-chain. Portal uses Bitcoin’s “hash time-locked contracts” to prevent fund loss and counterparty risk.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker,

eToro






10/10

67% of retail CFD accounts lose money



Source link

You might also like

Where to Buy ETH Online?

Identifying a Suitable Platform from Biggest Cryptocurrency Exchanges

Fantom(FTM), Loopring(LRC) Price Eye Another 20% Upswing, While Avalanche(AVAX) May Witness a 10% Plunge! – Coinpedia – Fintech & Cryptocurreny News Media 2021

Share this:

  • Twitter
  • Facebook
  • More
  • Pinterest
  • Telegram
  • Email
Share30Tweet19
Previous Post

Brazil’s BTG Pactual rolls out a crypto-trading platform titled Mynt

Next Post

How Will Cryptocurrency Help The Private Sector 2021

souhaib

Recommended For You

Where to Buy ETH Online?

by souhaib
March 21, 2022
0
Where to Buy ETH Online?

Have you decided to invest money in ETH? It’s a good choice as Ethereum is a leading coin in the crypto market. It has a great potential to...

Read more

Identifying a Suitable Platform from Biggest Cryptocurrency Exchanges

by souhaib
March 8, 2022
0

There are some biggest cryptocurrency exchanges in the market that are known and used all around the globe. However, these platforms offer various services and are not suitable...

Read more

Fantom(FTM), Loopring(LRC) Price Eye Another 20% Upswing, While Avalanche(AVAX) May Witness a 10% Plunge! – Coinpedia – Fintech & Cryptocurreny News Media 2021

by souhaib
February 7, 2022
0

With the Bitcoin price gaining huge strength, the entire crypto space is gaining a good bullish momentum. And hence as the Ethereum price comfortably hovering above $3000, the...

Read more

Where to buy SuperFarm (SUPER) coin: it is up 24% today after Coingecko listing 2021

by souhaib
February 7, 2022
0

The price of the SuperFarm (SUPER) coin has been rising since mid-January and the bullish momentum gathered momentum after today’s listing on Coingecko. To help investors and traders...

Read more

Cardano(ADA) Looking for a Breakout, A Scalp to $1.23 May be Extremely Possible! – Coinpedia – Fintech & Cryptocurreny News Media 2021

by souhaib
February 7, 2022
0

The Cardano(ADA) price had plateaued after falling down from a huge mountain. The top 6th crypto asset in recent times has accumulated significant gains and may continue surging...

Read more
Next Post

How Will Cryptocurrency Help The Private Sector 2021

No Result
View All Result

Recent Posts

  • Donald Trump never learns his lesson (analysis)
  • In the United States, the poor results of the large distribution increase the probability of a recession
  • Moody’s warns that cryptocurrencies could fragment the payment system
  • NBA superstar Giannis Antetokounmpo fires up George Kambosos as Devin Haney lands Down Under
  • Marilyn’s dress designer says it was ‘a mistake’ for Kim to wear it

Browse by Category

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Categories

  • Australia
  • Automotive
  • Business
  • Celebrity
  • Cryptocurrency
  • Deals
  • Economie
  • Education
  • Euro
  • Forex
  • Gaming
  • Health
  • Life Style
  • NBA
  • News
  • Reviews
  • Sports
  • Switzerland
  • Trending
  • U.S.
  • Uncategorized

Pages

  • Contact US
  • Newsletter
  • Privacy Policy
  • Terms & Conditions

© 2021 - TrendsWide

No Result
View All Result
  • Home
  • Contact US
  • Privacy Policy
  • Trending
  • U.S.
  • Economie
  • Deals
  • Reviews
  • Cryptocurrency
  • Health
  • Life Style
  • NBA

© 2021 - TrendsWide

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.