VC Draper Goren Holm has invested in open-source blockchain firm CasperLabs. According to the company, CasperLabs is building a platform that is powered by “Correct-by-Construction (CBC) Casper Proof-of-Stake consensus protocol.” CasperLabs is said to be designed for real-world applications with better usability, scalability and security. CasperLabs launched its Testnet in March with 20+ participating validators including HashQuark, Staked.Fish, SNZ Pool, and others.
CasperLabs is attempting to succeed where many others have struggled as most blockchain networks have failed to accomplish widespread adoption. The company states that its protocol is built for “decentralization, speed, and security with no compromises and includes features such as predictable platform economics to scale as you scale, familiar languages, and workflows that enable frictionless building, upgradeable infrastructure, and versioning, and more.”
Mrinal Manohar, CEO of CasperLabs, commented on the investments:
“We are humbled and excited about the support from legacy venture studio Draper Goren Holm. We look forward to delivering several more interesting technical updates in the coming months and welcome any and all feedback.”
Alon Goren, founding Partner at Draper Goren Holm, said the team at CasperLabs has built an essential platform for real-world applications.
Draper Goren Holm is co-founded by Goren, Josef Holm, and prominent billionaire Tim Draper.