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The investment departments of cryptocurrency exchanges Binance and Coinbase have invested in the development of the Sui blockchain.
On September 8, the firm Mysten Labs, which is working on the creation of the Sui network, reported on the successful completion of the next round of fundraising, in which the startup received $ 300 million.
Investors will receive not only Shares of Mysten Labs, but also the native cryptocurrency of the Sui blockchain.
The new network will be distinguished by high performance, low commission for making money transfers and fast speed of processing operations. The developers of Sui are going to achieve this with the help of the transaction parallelization function, which is described in the research paper “The theory of parallelism in blockchains”.
A fairly large amount of capital investment that Mysten Labs managed to attract indicates that institutional investors are not worried about the bearish trend that prevails in the cryptocurrency market. Contrary to the crypto winter, in the first half of 2022, startups received $ 30.3 billion from venture funds, which exceeds the figure recorded for the whole of 2021.
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