During the Bitcoin Cash Anniversary Global Summit on August 1st, Hantao Qian, CTO of public chain company ASCH, announced that recently ASCH has received 50 million RMB ($7.5 million USD) investment from Bitmain, the world’s biggest crypto company. ASCH accomplished cross-chain operation for BTC and BCH two months ago, which means both BTC and BCH can be used on ASCH’s mainnet.
Everything Is Now in Place
Bitmain founder Jihan Wu said of the investment deal:
“I have always admired ASCH’s solid technology and geek culture. Soon after ASCH’s accomplishment of cross-chain technology, Bitmain decided to invest in ASCH. We will soon start cooperations in aspects of R&D, community building and overseas marketing. Our collaboration will greatly expand the usage of BCH and accelerate its growth”.
There are at least a dozen active projects on ASCH’s platform, which include BlockDino, a digital dinosaur pet game, Koumei Cottage, a prediction market place, and Dream World, a VR game developed based on real world geography.
ASCH also strives to “reform” traditional industries with blockchain technology. It recently made its first step with Fangjinsuo, a loan consulting service provider which can potentially bring 3 million loan agents in China. Fangjinsuo has completed its DApp development on ASCH and begun private beta testing.
ASCH’s Two-Year Effort
ASCH’s founder Qingfeng Shan said of Bitmain’s investment:
“I really appreciate the investment from Bitmain, the world renowned enterprise with a strong blockchain ecosystem. The investment is a recognition of ASCH team’s efforts of past two years, and the cooperation will definitely boost our strengths in R&D and marketing. We will strengthen our cooperation in all aspects, and look forward to a bright future together.”
ASCH, founded in 2016, is a public chain platform based on cross-chain technology and multi-chain architecture.
Its mainnet has been running smoothly and safely for two years, with the token XAS listed on exchanges including OKEx, Kucoin, and Bit-z.
ASCH is a technology-driven project excelling in security, efficiency, flexibility, and cost. By providing an easy-to-use SDK and API and providing interoperability, ASCH is committed to lowering the barrier for developing a DApp (decentralized app) and building a solid foundation for the blockchain ecosystem.
Bitmain, both the biggest bitcoin mining equipment manufacturer and Bitcoin mining pool around the globe, recently managed to close a Series B funding round and has a current $12 billion USD valuation. It is the largest blockchain company in the history of Bitcoin and cryptocurrency, with its equipment powering over 38 percent of the Bitcoin blockchain’s hashpower.