A series B funding round for a new layer-1 blockchain has successfully raised a significant amount of funding, with tech giant Samsung and multiple crypto venture capital firms among the investors.
Berachain (BERA), a blockchain platform focused on decentralized finance (DeFi), has announced that it raised an astounding $100 million in its latest funding round. The round was led by Brevan Howard Digital and Framework Ventures.
Notable companies such as Samsung Next, HashKey Capital, Animoca Ventures, and Nomad Capital also participated in the funding round.
Smokey The Bera, co-founder of Berachain, stated in an interview with Bloomberg, “We see this raise as a major validation of our approach to building a blockchain that’s based on feedback from real users and developers, and delivering value to those who are actively contributing to the network’s growth.”
According to Berachain’s website, the platform is designed to have some compatibility with Ethereum (ETH) smart contracts and tools. However, it does not fully replicate the Ethereum Virtual Machine (EVM) environment.
Berachain offers a certain level of compatibility with ETH, making it easier to transfer applications and assets. EVM-compatible chains may support Ethereum’s smart contract languages and tools to some extent, but there may be differences in functionality, performance, and security features.
Berachain is an EVM-compatible layer-1 blockchain built on top of the Cosmos-SDK. It supports the same tooling and operations as Ethereum and adds additional functionality optimized for proof-of-liquidity and typical use-cases like decentralized exchanges and Oracles.
The blockchain will introduce three assets: the BERA token, which will be used for transactions on the chain; the BGT token, which will serve as the governance coin; and HONEY, the protocol’s collateralized stablecoin.
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