Cryptocurrency Exchange COBINHOOD Launches Decentralized Blockchain Platform DEXON With Investment From IDG

Investment Will Allow DEXON To Focus On Mass Adoption From The Banking Industry

Founder of COBINHOOD Launches The Infinitely Scalable Permissionless Distributed Ledger Technology, DEXON, To Eliminate Existing Blockchain Technology That Does Not Make for Practical Market Adoption

Today, COBINHOOD, a leading cryptocurrency service platform and zero-fee exchange endorsed by Richard Sherman, announced it has launched DEXON. The team also announced the project is backed by IDG Capital, a VC firm that has had 150+ successful exits and manages more than 20 billion in assets. Some of their portfolio companies include; App Annie, 5Miles and WeCash. DEXON is also backed by other top VCs in the world.

DEXON is the fastest blockchain available on the market aimed at guiding mass adoption within the banking industry and real-world application requirements. The new blockchain technology uses parallel blockchain systems that work together to form an infinitely scalable, low-latency decentralized transaction processing engine.

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“Blockchain is still in its early stages, though many industries are looking to implement blockchain and talk constantly about its benefits, it has yet to reach rapid adoption,” said Founder of DEXON, Popo Chen. “Factors like speed of transactions have been a crucial inhibitor in allowing this technology to be implemented into the real-world banking ecosystem. The innovation surrounding blocklattice architecture like DEXON, will enable use cases such as everyday banking, stock and cryptocurrency exchange, micropayments and other markets.”

Through the use of a blocklattice structure, DEXON is able to make decentralized transactions more scalable than ever before. Unlike traditional blockchain technology systems that build encrypted blocks linearly, DEXON’s blocklattice, features multiple blockchain systems that work together in parallel, making it easier to scale automatically and energy-efficiently.

Prior to DEXON technology, blockchain could only scale a few secure transactions per second, making it unable to keep pace with traditional banking technology and other real-world’s needs. However, with this new architecture, the DEXON network is ready to compete with credit card companies and bank transactions through the use of highly secure blockchain technology. DEXON will head industries in making the revolutionary shift of blockchain implementation and adoption.

To learn more about DEXON, please visit – https://dexon.org/

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