Proof-of-Stake (POS) based Staking-as-a-service startup, InfStones, raises $2 million
Blockchain-based cloud service provider InfStones raises $2 million in venture capital funding. The $2 million seed round is being led by DHVC, and Plug & Play Ventures. Both the venture funds are known for their early investment in Paypal and Dropbox.
InfStones is a cloud service provider which provides Staking as a Service. With Staking-as-a-Service, InfStone works as a block producer for PoS blockchains. Staking as a Service has been gaining a lot of attention recently. It is quite tough for an individual to mine in a PoS blockchain, so they mine through Staking services such as InfStones.
The new cloud service by InfStones allows any institutional client to launch the main net or a node. Chief of its benefits is its ability to maximize the uptime of its servers and security of staked tokens or hosted main net projects, as data is distributed across three major cloud service providers. In addition, InfStones handle the infrastructure costs of its clients, while also offering technical support staff for any issues.
InfStones plans to use the seed fund to expand its team as well as provide their staking service for additional blockchains. Some of the services InfStones has planned includes, AI-based PoS algorithmic trading, and economic models reviews for blockchains along with the expansion of its team.
“We’re witnessing an increase in interest in PoS coins, and InfStones has been at the forefront by being the first to provide reliable support on our cloud infrastructure, called Infinity Stones, designed for the blockchain to support the latest main net launches,”
said Jonathan Shi, founder at InfStones. “PoS stakers are seeing the value of staking as a way to generate passive income, participate in an exciting project or more, and so to date $500 million USD is staked on InfStones’ cloud platform.”
According to our sources, InfStones has staked nodes in all 50 of the world’s largest PoS networks by market cap. Some of the blockchains include EOS, TRON, Cosmos, Tezos, and Ontology. The company also aggregates PoS token holders’ votes to participate in the block producing process of PoS chains in order to receive mining rewards.
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