Consensus Algorithm Tendermint Raises $9 Mln in Series A Investment Round

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Blockchain consensus algorithm and peer-to-peer (P2P) networking protocol Tendermint has raised $9 million in a Series A investment round, according to a blog post published on March 14.Tendermint has raised $9 million in the Series A investment round led by cryptocurrency investment company Paradigm, with contribution from Bain Capital and 1confirmation among other investors.Part of the funds will purportedly be allocated to support of further development of the Cosmos Network and its ecosystem. The company also plans to spend the funds on the building staff and creating a sustainable business model.The round closing follows the Cosmos Hub mainnet launch — so called “The Internet of Blockchains,” developed by Tendermint — on March 13. The developers believe that Cosmos may contribute to solving blockchain’s scalability and interoperability problems.Salil Deshpande of Bain Capital reportedly said that “we envision a future where multiple blockchains serve specific use-cases  —  store of value, privacy, general…

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