Thursday, September 14, 2017

Swirlds Scores $3M For Blockchain Alternative

Dallas-based Swirlds, a developer of peer-to-peer, distributed ledger software that seeks to act as an alternative to Blockchain, the technology behind Bitcoin, has raised $3M in a seed funding round. The funding was led by New Enterprise Associates (NEA). Swirls, led by founder and CEO Mance Harmon, says it has created a "hashgraph distributed consensus platform" which it says can be used in gaming, online collaborat‭ion, financial services, and other areas. Swirlds said that existing technologies in the area, which power Bitcoin and Ethereum, have "critical shortcomings" that it is addressing with its own technology.