Blockchain-Based 'Internet Computer' Gets $61M from Andreessen Horowitz and Polychain
Blockchain is now being used to build an “Internet computer.”
Top Silicon Valley venture capital firm Andreessen Horowitz and Polychain Capital, a cryptocurrency hedge fund, have invested $61 million in Dfinity Foundation, a firm that intends to connect multiple computers together using blockchain to build an “Internet” computer.
The investment is Polychain Capital’s largest to date. Both investors will receive tokens in the network after its launch later this year. In an introductory video last year, Dfinity Foundation’s founder Dominic Williams explained more about the technology behind his company. “This applies new cryptography to public blockchain technology that is faster and more secure than anything around today,” he said. When the network was tested last year, it was 600 times faster than the prevailing speeds in ethereum’s network at that time.