An early-stage venture capital firm, Krypton Capital, has decided to invest in IOTW, an IoT-centric blockchain venture by AnApp Technologies.
Krypton Capital, a specialist seed-stage venture firm founded by Ilan Tzorya, is a primary investor in blockchain startups with extensive experience in several other sectors, including software and media. Since the company’s inception last year, Krypton Capital has already invested in and helped develop a number of prospering crypto businesses including CoinAdmin and TokenBackers.
The agreement with AnApp involves Krypton Capital purchasing a pre-designated amount of IOTW - AnApp’s new ‘micro-mineable’ IoT cryptocurrency that has already attracted a lot of attention from the wider crypto community because of its revolutionary Proof-of-Assignment consensus mechanism. The IOTW micro-mining protocol is a highly energy-efficient algorithm that uses a fraction of the computational power needed to run the more prevalent Proof-of-Work and Proof-of-Stake network mechanisms that most coins on the market utilize.
Krypton Capital’s agreement to invest in the development of this new IoT cryptocurrency highlights a clear recognition of the great potential that IOTW has in the evolving fintech and big data markets; both of which are growing at an exponential rate. According to last year’s figures, globally, we are creating over 2.5 quintillion bytes of data per day and that statistic is set to rise as the IoT market develops.
AnApps’ impressive progress in this field so far, establishing strategic partnerships with iKeyhome and Consta Mobile, has helped forge this new partnership with Krypton Capital, which is also working hard to drive the tech industry forward.
When asked about the new deal, Krypton Capital Founder Ilan Tzorya spoke highly of this new partnership and the hard working-team behind AnApp Blockchain Technologies Ltd,
“At Krypton Capital, we are very particular about the ventures we invest in and support. Our partnership with AnApp to invest in IOTW represents our commitment towards innovation and the mainstream adoption of cryptocurrencies. Given how rapid the IoT market grows, we believe IOTW has immense potential to make a lasting impact due to AnApp’s capable team, robust product and experienced leadership.”
AnApp is a Hong Kong-based blockchain company that is developing the new IOTW virtual currency. Focusing on the growing ‘Internet of Things’ market, the new IOTW asset can be easily mined using a wide range of IoT devices, thanks to its cost-effective micro-mining software and new ‘Proof-of-Assignment’ consensus mechanism.
You can learn more about IOTW by visiting their official website or following the project on Twitter and Telegram for updates.