Blockstream
Notes
Founded: 2014
Founders: Adam Back, Matt Corallo, Alex Fowler, Mark Friedenbach, Francesca Hall, Austin Hill, Gregory Maxwell, Erik Svenson, Jorge Timón, Jonathan Wilkins, Pieter Wuille
Technology: Sidechains
Customers/Partners:
Description:
Blockstream’s core area of innovation is sidechains, a technology focused on improving on the blockchain, the most powerful public utility for distributed trust systems.
Sidechains are blockchains that are interoperable with each other and with Bitcoin, avoiding liquidity shortages, market fluctuations, fragmentation, security breaches and outright fraud associated with alternative crypto-currencies.
The extension mechanism of sidechains, the company’s initial area of focus, allows any number of so far unthought of developments to happen in an open and interoperable way. A champion of Bitcoin’s ethos, Blockstream supports values of decentralization, end-to-end security, user control, and open, permissionless innovation.
Blockstream’s major technology release is Sidechains Elements, functioning code and a testing environment for working with sidechains.
Blockstream has raised $76 million in venture capital in two rounds from 18 different investors. In November 2014, Blockstream received $21 million in a seed round led by Real Ventures and including AME Cloud Ventures, Blockchain Capital, Danny Hills, Embrase, Flight Ventures, Future Perfect Ventures, Innovation Endeavours, Khosla Ventures, and Mosaic Ventures. The startup’s Series B round closed in February 2016 adding $55 million and new investors, AngelList, AXA Strategic Ventures, Data Collective, Digital Garage, and Horizons Ventures.
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