Ex-employees of Besixcrypto raised $1.3 million for web3 startup

by
Crypto Regulation
DCG and Barry Silbert hit with securities lawsuit 

Founded by former BesixCrypto specialists, startup Scal Labs has raised $1.3 million in a seed round from Redpoint Ventures and other investors. The funds will be used to build infrastructure to keep node operators running smoothly, The Block writes.

Mysten Labs and Howard University also provided funding.

According to the founders of Scal Labs, the startup can speed up the "ultra-complex" process of updating nodes from eight hours to "less than 20 minutes."

This is possible by using a platform that does all the internal work and provides direct links for updates. The App Store does the same thing.

Scal has developed a monitoring dashboard that provides real-time updates.

Read more about

Jon Kelvey

Jon is a blockchain reporter skilled at synthesizing all crypto-related information to make articulate texts easy for anyone to grasp. With a beginners level certificate in Financial Analysis, Julius can read, interpret and report crypto findings to help investors exercise the best judgment in their decision-making process. When he is not caught up in the crypto frenzy, Jon likes playing a game of FIFA with his online buddies.