Pharos Secures $8M in Seed Funding to Accelerate Development of its Ultra-Fast Full Stack Parallel Layer 1 Blockchain.

MH Ventures is proud to support Pharos' mission to build a scalable, high-performance Layer 1 blockchain. The seed funding round closed at $8M and was co-led by Lightspeed Faction and Hack VC. Additional top-tier investors include Reforge, Dispersion Capital, Hash Global, Generative Ventures, Legend Star, Zion, and Chorus One.

‍

Our investment in Pharos aligns with our commitment to back innovative blockchain projects that are building the foundations of Web3. We believe Pharos has the potential to revolutionize layer 1’s architecture to enhance liquidity across all assets, and provide developers with tools to create the best interoperable dApps.

‍

Pharos stands out with its full Ethereum Virtual Machine (EVM) and WebAssembly (WASM) compatibility, allowing for seamless integration with existing Ethereum dApps and broader developer inclusivity. With support for multiple virtual machines, Pharos promotes seamless interoperability across blockchains, enabling developers to build dApps that leverage the best of various ecosystems. 

‍

‍

The Blockchain for Payments, RWA, and GameFi

‍

Pharos achieves exceptional speed through a parallel, asynchronous processing model, enabling it to handle high transaction volumes with one-second finality and strong security. This makes it ideal for large-scale DeFi and real-world asset (RWA) applications. Its innovative architecture, designed with five degrees of parallelism, enables ultra-fast transaction speeds and scalability to support billions of users.

‍

Leveraging real-time secure payment networks, Pharos is optimized for high-frequency trading and gaming, offering minimal fees. The platform also introduces advanced features like zkDID attestation and a hybrid credit system to revolutionize digital identity and credit management on the blockchain.

‍

‍

Web3 Strategic Partnerships

‍

MH Ventures supports Pharos' strategic partnership with ZAN, the Web3 division of Ant Digital Technology. As an active investor, we look forward to helping the team create a strong network primed to drive adoption. With Pharos’ proven experience in the Fintech industry, we are confident that the team will build the future of blockchain and be a leading chain for dApp development. 

‍

The Pharos team is dedicated to driving mass adoption through efficient blockchain technology. By removing the silos of programming languages, Pharos aims to unlock the full potential of Wbe3. Backed by a strong team and string investors, MH Ventures is excited to be apart of the journey.

Want to learn more about Pharos and their vision for the future of blockchain? Be sure to follow them on social media or visit their website.

Twitter: @pharos_network 

Website: https://pharosnetwork.xyz/