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‘Most Decentralized Network’ Minima Raises $6.5M in Series A Round

Published 10/26/2021, 10:00 AM
‘Most Decentralized Network’ Minima Raises $6.5M in Series A Round

  • Minima closes a Series A funding round.
  • The round raised $6.5 million.
  • The investment came from many notable investors.

The protocol built to run on smartphones — Minima, is happy to announce the closing of a Series A funding round. The round raised $6.5 million from various notable investors. In detail, these big-time investors include AGE Crypto, DEX Ventures, GSR, SMO Capital, and Vinny Lingham.

CEO of Minima, Hugo Feiler says,

We are excited to announce this oversubscribed Series A fundraise. Our Mission is to create a blockchain that no one controls and everybody owns, making it completely decentralized. This fundraising round will enable us to bring onboard the resources we need to launch Minima’s Mainnet in the middle of 2022.

These investments are no doubt an instrumental step towards the launch of Minima’s mainnet in 2022. To highlight, Minima’s innovation lies in the fact that the protocol would possibly make every user a complete node.

In addition, the blockchain protocol is currently using a variation on the Proof-of-Work (PoW) consensus mechanism. This variation requires minimal computing power and so enables the protocol to run entirely on IoT devices as well as on mobile phones.

The brand is designed to be the most immutable, scalable, and decentralized protocol in the market. In fact, Minima also gives users a secure and sustainable chain where token transfers and smart contracts are also supported.

Presently, Minima has already onboarded over 5,000 nodes across 94 countries in the last few months. It accomplished this ahead of its upcoming launch in 2022. The Series A round will further propel the project towards the finish line to hasten its release. Meanwhile, the Minima Incentive Program enables users to start earning coins in three easy ways. Specifically, users can do so by downloading the Minima app onto their Android mobiles or by running Minima on their PC, Mac, or Linux. In addition, they can earn more Minima coins if they participate as testers. To join the program, users can sign up on the waiting list.

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