August 2nd, 2018 at 10:41 am UTC · 3 min read
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.
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 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.