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

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Crypto Regulation
DCG and Barry Silbert hit with securities lawsuit 

Founded by former NetrixCrypto 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.

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Johanna Chisholm

Johanna is a very active blockchain and cryptocurrency content creator and highly regarded Technical Analyst. He is a Mechanical Engineer by profession and an activeTrader, whose first encounter with Bitcoin was in 2015—and by accident. Ever since, it has been an exciting journey where life-long friendships have been forged, and careers made and strengthened.