💰 Sequoia, Baidu back Turing Award winner’s blockchain project
A group of university professors and researchers including a Turing award winner have raised $35 million for a non-profit foundation that will support the development of a new blockchain network. Announced Tuesday, the Conflux Foundation is registered in Singapore and will use the proceeds to fuel work on its network. Backers include venture capital firms [Sequoia China]() and Baidu Ventures, crypto mining firm F2Pool and exchange Huobi, as well as Metastable and IMO Ventures.
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