Cryptocurrency News

GEM Digital commits $50M to ParallelChain Lab for L1 protocol development

2022.09.22 13:05

[ad_1]


GEM Digital commits $50M to ParallelChain Lab for L1 protocol development

Digital asset investment firm GEM Digital Limited (GEM) has committed $50 million to finance ParallelChain Lab following the launch of its mainnet and native token listing, XPLL, in Q4 2022.

As a proof-of-stake (PoS) layer-1 protocol, ParallelChain aims to bridge the infrastructure divide between centralized (CeFi) and decentralized finance (DeFi). The soon-to-be-launched ParallelChain mainnet is open source and based on a PoS consensus mechanism dedicated to maintaining a fair distribution of power.

Continue Reading on Coin Telegraph

[ad_2]

Source link

Related Articles

Leave a Reply

Back to top button