BusinessCoinFundMoonbeamPolkadotPureStake

Moonbeam Lands $6M in Funding Round Led by CoinFund

Several big hitters are backing PureStake to bring Moonbeam to the market. 
PureStake Raises $6 Million 
PureStake, the blockchain development company building Moonbeam, has closed a $6 million funding round led by CoinFund. 
The sum will be used for hiring, building integrations and developer tools, auditing, and growing a market in Asia ahead of Moonbeam’s launch later this year. Binance Labs, ParaFi, Coinbase Ventures, Fenbushi Capital, IOSG Ventures, and a host of venture capital firms all joined CoinFund in contributing to the round. 
Jake Brukhman, CEO of CoinFund, shared his thoughts on Moonbeam’s place within the rapidly growing Polkadot ecosystem. He said: 
“Moonbeam is setting the state of the art of Ethereum compatibility on Polkadot as well as developing a robust smart contracting facility in the new network. We are pleased to be able to support the Moonbeam team as they continue to make incredible technical progress in this space.”
Moonbeam is one of the most promising parachains forming in the Polkadot network. It runs on Parity’s Substrate infrastructure and is designed to read smart contracts in Solidity, the programming language used in Ethereum. Its compatibility with Ethereum means that it could allow developers to move their projects across two chains. It also has a bridge to Bitcoin. 
SushiSwap, Balancer, Ocean Protocol, IDEX, Seascape, and Linear Finance have planned or live integrations on the network. 
Moonbeam, the Ethereum-Compatible Parachain 
PureStake is currently working on developing Moonbeam ahead of a mid-2021 launch. It’s expected to roll out in multiple …
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