Crypto startup Harmony raises $18M in token presale

There are many cryptocurrency investors and traders that have not been excited about the price action recently, and with good reason. After all, Bitcoin Core (BTC) is currently below $5,000 (as of press time), which is a far cry from its all-time highs above $19,000. However, that apparently hasn’t changed the fact that token presales can be successful. Specifically, Harmony raised $18 million from investors on April 2, CoinDesk reported.

The Harmony blockchain aims to be an “open consensus for 10 billion people,” or at least is marketed that way, which is interesting considering that there are not even 10 billion people on Earth currently. Regardless, the project focuses on a low-latency and low-fee platform that will not only provide “open infrastructure for the world’s data” but also power and enable decentralized economies.

Many have been concerned about the ability to scale, which will be more of a focus the more that cryptocurrencies become popular. Harmony wants to address this issue specifically by allowing dApps to transfer from Ethereum to Harmony (for example) quickly and efficiently. Harmony also has an ambitious goal of allowing personal data to be placed on a decentralized protocol where individuals can actually earn money off of their own data.

Harmony has quite an accomplished team, including senior engineers from some of the most respected universities in the world, including Harvard, Stanford, UPenn, and more. In addition, many of those at Harmony have worked at some of the most respected tech companies in the world, including Amazon, Apple, and Google.

Some of the investors who helped Harmony raise $18 million include well-known funds from all around the world. This includes funds such as Consensus Capital, based in Silicon Valley, UniValues Associates based in Singapore, and Australia’s BCA Fund.