Blockchain platform raised $12 million to build JavaScript-like DApps

The company announced on Wednesday that Reach, a blockchain development platform for decentralized applications, has raised $12 million from investors to further its goal of simplifying the process of creating DApps.

The latest round of financing brings the total funds raised by Reach to 48 million US dollars, as the company aims to produce a JavaScript-like programming language for building blockchain applications. Currently, most major blockchains are launched with their own unique programming language, which means that applications built on each platform are rarely compatible with each other.

Reach was launched in 2019 and has achieved compatibility with Ethereum and Algorand blockchain so far, and plans to expand the compatibility of its code compiler to adapt to any network.

Chris Swenor, founder and CEO of Reach, said that fundraising has brought the project closer to becoming a major platform for interoperable DApp development.

“This investment has accelerated our pace of becoming the world’s primary method of building decentralized applications, and these methods will form the basis of global interaction,” Swenor said. “The momentum we have seen so far and the unprecedented support provided by investors and pioneering networks who share our vision of mainstreaming blockchain are exciting to us.”

Ethereum is already home to the largest percentage of blockchain developers, More than twice As the most important cryptocurrency, Bitcoin (Bitcoin), according to some reports. Algorand was launched in 2019 with the goal of expanding blockchain performance-since then, the goal has taken a step towards the reported 1,000 transactions per second and a fee of 1 cent.

Algorand’s CEO Steve Kokinos talked about the importance of a simple programming language that all developers can use-this must be achieved in order to realize Algorand’s vision.

“We believe that it is vital that all developers can use simple language to ensure safety and correctness as the top priority. This is consistent with our vision for the future of finance. In smart finance, smart contracts The infrastructure will support billions of dollars in value and transactions worldwide.”