Yesterday, China-based cloud hosting firm
Xunlei announced that it will establish a private equity fund for blockchain technology investments. The fund will be worth up to $100 million and operate independently from Xunlei’s Chinese entities.
Founded in 2003, the company provides cloud computing services such as its download manager, the most popular in China, and peer to peer software. The firm boasts former directors of
Tencent and Xiaomi on its board. In 2017 Xunlei moved towards blockchain and developed ThunderChain, its multichain platform, which claims to reach one million transactions per second.
Released in April last year, ThunderChain focuses on high performance and interoperability. Its impressive transaction rate is realized through separate chains working in parallel. Meanwhile, ThunderChain supports Ethereum smart contracting language Solidity and can link to the Ethereum Virtual Machine.
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