O(1) Labs’ lightweight blockchain project Mina, formerly known as Coda Protocol, has raised $10.9 million in a funding round co-led by Hong Kong-based Bixin Ventures and Singapore-based Three Arrows Capital.
Mina was set for mainnet launch in Q4 but O(1) Labs CEO Evan Shapiro told CoinDesk it has been delayed to early next year because “launching a blockchain near the holiday season is never a good idea.”
"Mina addresses the failure of legacy blockchains like Bitcoin and Ethereum which, over time, pushes users out of participation," Shapiro said.
“Mina presents a lightweight layer one blockchain solution to the cryptographic trilemma of decentralization, scale and security,” Three Arrows Capital co-founder Kyle Davis said in a statement. “As daily blockchain users ourselves, we are particularly excited to support the Mina team and ecosystem.”
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