This month, we have reached some important milestones in our roadmap for developing the first and only highly scalable platform without sacrificing composability that will connect thousands of native Ethereum applications with the Polkadot ecosystem.
Here are the highlights!
ParaState announces alliance with Oasis Protocol
Earlier this month, we announced our alliance with the Oasis Network, in order to support the growth of the Oasis-Eth ecosystem to achieve the milestones proposed in the product roadmap for ParaTime.
Our Cofounder Marco Chen spoke about being excited to "Join the Oasis family and partner with them to bring top-notch privacy features to our Ethereum-compatible system."
As part of its commitments, ParaState expects to bring enhancements and features to Oasis-Eth ParaTime, including support for a ROSE gateway and integration with the new Oasis ParaTime SDK.
Achievements that can demonstrate the technical capabilities of ParaState and our technical team to expand our presence in the Blockchain ecosystem!
Closed a new 5.5 M round of private fundraising
This July 14 we announced on Cointelegraph the successful closing of a new round of private fundraising in $5.5 million led by HyperChain Capital.
With these funds raised in this round, we hope to expand our core team, continue the development of the Ewasm kernel runtime (Ethereum flavored WebAssembly), the Rust SDK (SewUp), and the solidity compiler (SOLL).
In addition, with the proceeds of this round we hope to incorporate a community of developers to create applications on the ParaState infrastructure and start the ecosystem to extend the Ethereum frontier using our technology.
It is worth noting that the confidence of our new investors in this round such as Firstchain Group, OIG, DCI Capital, Moonboots Capital, AuBit, CSP DAO, Maven Capital, GD10 Ventures, Parsiq, Playcent, Its Blockchain India, Llama Ventures and Thorx Crypto; Previous investors like Kenetic, Moonwhale, Master Ventures, Taureon, Bitcoin Guru, Chronos Venture, 1 Cap, Titans Ventures, pSquare extended their trust to our project!
The first batch of ParaState testnet validators announced
This month, as part of the progress within the launch of our public testnet ‘Plato’, we have reached the first batch of Validators that interact with our Testnet.
Those selected in this first round can be verified publicly and transparently in the following tweet:
Each of these validators will be rewarded with 500 Parapoints, in addition to being able to earn rewards in our native token $STATE and be reimbursed for all node expenses in the amount of $50 / month.
This is part of the incentives to strengthen the security of the network and as a stimulus for the notification of errors and comments that allow us to help improve our test network prior to the launch of our Mainnet.
Known as Ethereum on steroids, ParaState is a multi-chain smart contract platform bridging the application and developer ecosystem between Polkadot, Substrate and Ethereum, as well as other chains wanting to provide Ethereum compatibility. While supporting the EVM pallet to provide seamless compatibility with all existing Ethereum applications, ParaState also provides developers with a next-gen smart contract implementation environment, Ethereum-flavored WebAssembly. These two infrastructures are ensured to talk to each other and share the same account system on ParaState.