Binance Labs Invest in NGRAVE Crypto Wallet Producer
Posted On 21/11/2022
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Binance Labs, the accelerator and the venture capital division of Binance, informed on Monday that it has invested in NGRAVE, a hardware cryptocurrency wallet maker. Additionally, the crypto exchange is leading the upcoming Series A financing round. The value of the investment has not been disclosed to the public.
According to the press release, NGRAVE was founded four years ago in Belgium and is currently offering a connectionless hardware wallet with a touch-screen dubbed ZERO. On top of that, the company is providing the LIQUID mobile app allowing users to connect with blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term in real-time and GRAPHENE for safe crypto key encryption and storage.
NGRAVE ZERO is the only crypto wallet that obtained the highest possible certification of security, EAL7. The Evaluation Assurance Level (EAL1 do EAL7) has been used in IT systems and product evaluation since 1999. The higher the level, the higher the confidence that the system’s security features are reliable and correctly implemented.
“Security remains one of the biggest hurdles for crypto adoption. Self-custodial wallets are one of the most secure methods for storing digital assets and through our investment in NGRAVE, we are looking to continue backing innovative startups that enhance user security,” Yi He, the Co-Founder of Binance and Head of Binance Labs, commented.
Binance Labs Has Supported the Industry Since 2018
Binance decided to launch its accelerator
Accelerator
An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing helps extend equity style investing to a wide range of industries. Different Types of Startup AcceleratorsThere are multiple types of accelerators, which have evolved to reflect a new form of investing assistance to entrepreneurs.This includes hardware accelerators, AI accelerators, Biotech accelerators, and China cross-border accelerators.Of note, startup accelerators do differ from incubators, which are another component of the fintech lifecycle.In particular, the application process is open to anyone for startup accelerators, though very competitive. Furthermore, the focus for startup accelerators is on small teams not an individual founder. The rational for this is that a singular individual is not sufficient to handle this entire volume of work.Seed investments in the startups are also made in exchange for equity, starting as low as $20,000 in some instances.Finally, startup accelerators are usually given a rigid deadline, usually targeting upwards of three months. This time is associated with intensive mentoring and training, and as the name suggests, an accelerated evolution of the program.Startup accelerators are not even obligated to occupy a physical space, though it is common for them to.
An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing helps extend equity style investing to a wide range of industries. Different Types of Startup AcceleratorsThere are multiple types of accelerators, which have evolved to reflect a new form of investing assistance to entrepreneurs.This includes hardware accelerators, AI accelerators, Biotech accelerators, and China cross-border accelerators.Of note, startup accelerators do differ from incubators, which are another component of the fintech lifecycle.In particular, the application process is open to anyone for startup accelerators, though very competitive. Furthermore, the focus for startup accelerators is on small teams not an individual founder. The rational for this is that a singular individual is not sufficient to handle this entire volume of work.Seed investments in the startups are also made in exchange for equity, starting as low as $20,000 in some instances.Finally, startup accelerators are usually given a rigid deadline, usually targeting upwards of three months. This time is associated with intensive mentoring and training, and as the name suggests, an accelerated evolution of the program.Startup accelerators are not even obligated to occupy a physical space, though it is common for them to. Read this Term program and venture capital arm in 2018. For the last four years, the institution was able to support 200 projects, 50 of which were discovered due to the Binance Labs Incubation Program.
By the numbers, Binance Labs is currently the biggest cryptocurrency venture capital in the niche, with Assets Under Management (AuM) exceeding $7.5 billion.
In November, the VC made a $4 million investment in the Web3 sports game platform dubbed Ultimate Champions. Binance wants to support the rapidly growing Web3 gaming industry and help build a F2P fantasy sports platform.
A month earlier, Binance Labs led the pre-seed funding round for Ancilla, an automated threat detection solution in the blockchain space.
Binance Labs, the accelerator and the venture capital division of Binance, informed on Monday that it has invested in NGRAVE, a hardware cryptocurrency wallet maker. Additionally, the crypto exchange is leading the upcoming Series A financing round. The value of the investment has not been disclosed to the public.
According to the press release, NGRAVE was founded four years ago in Belgium and is currently offering a connectionless hardware wallet with a touch-screen dubbed ZERO. On top of that, the company is providing the LIQUID mobile app allowing users to connect with blockchain
Blockchain
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others.
Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamper with. The Evolution of BlockchainBlockchain was originally invented by an individual or group of people under the name of Satoshi Nakamoto in 2008. The purpose of blockchain was originally to serve as the public transaction ledger of Bitcoin, the world’s first cryptocurrency.In particular, bundles of transaction data, called “blocks”, are added to the ledger in a chronological fashion, forming a “chain.” These blocks include things like date, time, dollar amount, and (in some cases) the public addresses of the sender and the receiver.The computers responsible for upholding a blockchain network are called “nodes.” These nodes carry out the duties necessary to confirm the transactions and add them to the ledger. In exchange for their work, the nodes receive rewards in the form of crypto tokens.By storing data via a peer-to-peer network (P2P), blockchain controls for a wide range of risks that are traditionally inherent with data being held centrally.Of note, P2P blockchain networks lack centralized points of vulnerability. Consequently, hackers cannot exploit these networks via normalized means nor does the network possess a central failure point.In order to hack or alter a blockchain’s ledger, more than half of the nodes must be compromised. Looking ahead, blockchain technology is an area of extensive research across multiple industries, including financial services and payments, among others. Read this Term in real-time and GRAPHENE for safe crypto key encryption and storage.
NGRAVE ZERO is the only crypto wallet that obtained the highest possible certification of security, EAL7. The Evaluation Assurance Level (EAL1 do EAL7) has been used in IT systems and product evaluation since 1999. The higher the level, the higher the confidence that the system’s security features are reliable and correctly implemented.
“Security remains one of the biggest hurdles for crypto adoption. Self-custodial wallets are one of the most secure methods for storing digital assets and through our investment in NGRAVE, we are looking to continue backing innovative startups that enhance user security,” Yi He, the Co-Founder of Binance and Head of Binance Labs, commented.
Binance Labs Has Supported the Industry Since 2018
Binance decided to launch its accelerator
Accelerator
An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing helps extend equity style investing to a wide range of industries. Different Types of Startup AcceleratorsThere are multiple types of accelerators, which have evolved to reflect a new form of investing assistance to entrepreneurs.This includes hardware accelerators, AI accelerators, Biotech accelerators, and China cross-border accelerators.Of note, startup accelerators do differ from incubators, which are another component of the fintech lifecycle.In particular, the application process is open to anyone for startup accelerators, though very competitive. Furthermore, the focus for startup accelerators is on small teams not an individual founder. The rational for this is that a singular individual is not sufficient to handle this entire volume of work.Seed investments in the startups are also made in exchange for equity, starting as low as $20,000 in some instances.Finally, startup accelerators are usually given a rigid deadline, usually targeting upwards of three months. This time is associated with intensive mentoring and training, and as the name suggests, an accelerated evolution of the program.Startup accelerators are not even obligated to occupy a physical space, though it is common for them to.
An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing helps extend equity style investing to a wide range of industries. Different Types of Startup AcceleratorsThere are multiple types of accelerators, which have evolved to reflect a new form of investing assistance to entrepreneurs.This includes hardware accelerators, AI accelerators, Biotech accelerators, and China cross-border accelerators.Of note, startup accelerators do differ from incubators, which are another component of the fintech lifecycle.In particular, the application process is open to anyone for startup accelerators, though very competitive. Furthermore, the focus for startup accelerators is on small teams not an individual founder. The rational for this is that a singular individual is not sufficient to handle this entire volume of work.Seed investments in the startups are also made in exchange for equity, starting as low as $20,000 in some instances.Finally, startup accelerators are usually given a rigid deadline, usually targeting upwards of three months. This time is associated with intensive mentoring and training, and as the name suggests, an accelerated evolution of the program.Startup accelerators are not even obligated to occupy a physical space, though it is common for them to. Read this Term program and venture capital arm in 2018. For the last four years, the institution was able to support 200 projects, 50 of which were discovered due to the Binance Labs Incubation Program.
By the numbers, Binance Labs is currently the biggest cryptocurrency venture capital in the niche, with Assets Under Management (AuM) exceeding $7.5 billion.
In November, the VC made a $4 million investment in the Web3 sports game platform dubbed Ultimate Champions. Binance wants to support the rapidly growing Web3 gaming industry and help build a F2P fantasy sports platform.
A month earlier, Binance Labs led the pre-seed funding round for Ancilla, an automated threat detection solution in the blockchain space.
