ADVANCED BLOCKCHAIN AG EQS-News: Advanced Blockchain AG: Portfolio company Arweave launches new innovation and reaches a fully diluted valuation of more than $1.9 billion
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EQS-News: Advanced Blockchain AG
/ Key word(s): Product Launch
Advanced Blockchain AG: Portfolio company Arweave launches new innovation and reaches a fully diluted valuation of more than $1.9 billion
29th February 2024 – Arweave, a community-driven network for permanent data storage and portfolio company of Advanced Blockchain, has launched its latest innovation, the hyper parallel computer (ao: https://ao.arweave.dev/), enabling higher transaction scalability for their decentralized storage solutions. Advanced Blockchain AG (“AB”, Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6), a leading incubator, architect and investor for the blockchain industry, is indirectly invested in Arweave and the wider decentralized storage ecosystem, including key protocols, such as Kyve and Meson, through its participation in Permanent Ventures, owning a total of 0.7% of total Arweave token in circulation. Currently, Arweave boasts a fully diluted valuation of more than $1.9 billion.
Simon Telian, CEO of AB, comments: “Right from the start, when we first came across Arweave, we realized a great growth opportunity, given the growing demand for decentralized storage. This perspective has been completely vindicated over the last couple of months. The recent traction we observe is merely the initial phase of more positive developments to come."
Arweave has reached an impressive milestone in February 2024 with more than 593 million transactions. Its processing speed has also increased to an outstanding 600 transactions per second, making it one of the fastest transaction processing protocols.
Permanent storage as developed and offered by Arweave has many applications: from the preservation of most important data, to the hosting of truly decentralized and provably neutral web apps. The Arweave protocol is stable, mature and widely adopted. As such, its ecosystem is fully decentralized.
About Advanced Blockchain AG:
For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.
29.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Advanced Blockchain AG |
| Scharnhorststraße 24 | |
| 10115 Berlin | |
| Germany | |
| Phone: | +4930403669510 |
| Fax: | 030403669511 |
| E-mail: | info@advancedblockchain.com |
| Internet: | www.advancedblockchain.com |
| ISIN: | DE000A0M93V6 |
| WKN: | A0M93V |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1847933 |
| End of News | EQS News Service |
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1847933 29.02.2024 CET/CEST