Jihan Wu’s Bitmain Invests In Blockchain Data Storage Startup Lambda

On 17th August 2018, bitcoin mining giant Bitmain reportedly staked an undisclosed amount towards the development of a “secure” blockchain-based infrastructure and decentralized applications on Lambda, the Singaporean startup revealed.

Bitmain’s Lambda investing marks the company’s latest move to grow its blockchain-based infrastructure and decentralized applications (dApps).

Although Bitmain’s input is a big boost to Lambda, it is not the only company with interests to invest in the startup. FunCity Capital, BlockVC, BlueHill, and Zhen Fund are among other institutions that have been pulled by the company’s tokenized private sale. The startup is reportedly gearing for an initial coin offering (ICO) and plans to raise $5 million towards the initiative.

According to Xaioyang He, the CEO of Lambda, Bitmain’s push to expand dApp blockchain companies like Lambda demonstrates the company’s commitment to recognize and endorse leading blockchain-based storage solutions.

Xaioyang said, “Bitmain has demonstrated its commitment to expanding strong, dApp blockchain companies such as Lambda.” The CEO continued by saying “This investment from a global industry leader is a significant endorsement and recognition of Lambda’s longstanding dedication in creating a world-class blockchain-based solution.”

The Singaporean startup has recently made headlines as a “high-speed, secure and scalable blockchain infrastructure.” The organization is emerging as a center for trusted and secure data storage, public data access and transaction, privacy data protection, infinite scalable dApp and support for blockchain. Lambda’s blockchain infrastructure is also defined for IoT and artificial intelligence data.

While the entire concept by Lambda is an applicable solution to the ever-growing technology in the modern world, its subject on infinite scalability has attracted a huge following. The startup says that it “logically decouples and separate implementation of Lambda Chain and Lambda DB” in order to achieve ‘infinite scalability.’

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Disclaimer: This is not a recommendation to buy or invest in any cryptocurrency or asset mentioned in this article. Traders should do their own research before investing.

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