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Alephium raises USD 3.6 Million to grow its sharded and energy-efficient blockchain platform

Tuesday 5 October 2021

High-performance sharding-based blockchain company Alephium has pre-sold tokens for over USD 3.6 million to several major funds and a large number of small buyers.

Lausanne-based Alephium is the first operational sharded blockchain bringing secure smart contracts, scalability, and energy efficiency to Bitcoin's proven core technologies (UTXO & Proof-Of-Work) while offering better performance.

The USD 3.6 million pre-sale was led by Alphemy Capital, with participation from White Paper Capital and Archery Blockchain. A significant portion of the pre-sale was funded by individuals, with 76% providing less than USD 50,000 and 91% less than USD 100,000. Over half of the purchasers were Swiss residents.

“After over 3 years focused exclusively on research and development, we are proud and humbled by the success of the pre-sale achieved without any marketing or active online presence,” said Cheng Wang, Co-founder of Alephium. “It is rewarding to see the interest raised by our technology, and we are excited to have this pre-sale kick-off the expansion of the Alephium blockchain and create the grounds for a broader community.”

Addressing scalability and energy efficiency in the blockchain industry

Geneva-based Alphemy Capital focuses exclusively on technologies that will constitute the fundamental infrastructure of the global economy, particularly those which safeguard decentralization to the benefit and for the sustainable growth of the future web ecosystem. 

“Blockchain technologies need to address scalability and energy consumption issues to reach mass adoption. Alephium proposes a unique approach to sharding and smart contracts on the Bitcoin technology stack while tackling energy concerns with its Proof of Less Work algorithm. It is a really promising project in the sharding blockchain domain and we look forward to seeing how it will develop,” said Alphemy Capital.

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