The RChain Cooperative raises $29.7 million from a private community sale and signs deals with Pyrofex, Reflective Ventures and Pithia Inc. to accelerate the launch of the RChain platform.

RChain is building a scalable, secure and transparent platform to deliver content at a global scale.

The RChain Cooperative has recently completed its first membership Governance Forum and announced to the general public that it raised $29.7 million from a private community sale. The funding will be used continue building the RChain platform, invest in blockchain startups and drive adoption of RChain with relevant enterprise companies.

RChain is the brainchild of Greg Meredith, a mathematician and software engineer who has previously worked at several high tech companies including Microsoft. The Board and Cooperative includes Vlad Zamfir, lead researcher for The Ethereum Foundation’s Casper Proof of Stake protocol, Alexandr Bulkin, co-founder of Coinfund and a notable technologist, Kenny Rowe, co-founder of MakerDAO, and David Currin, notable Ethereum developer working with MakerDAO and DappHub.

RChain Co-op members who participated in the private token sale for members include industry veterans who have worked for companies like Microsoft, IBM, Google, Amazon, Facebook, Bain & Co., Bain Capital and Dropbox.

Watch RChain president, Greg Meredith and Pyrofex CEO, Nash foster sit down with epicenter to discuss the project.

Learn more about The RChain Cooperative here: rchain.coop.

The RChain Cooperative also announced partnerships with Pyrofex, Reflective Ventures and Pithia Inc. Pyrofex is cofounded by Mike Stay and Nash Foster, ex-Googlers who worked on security and the ads platform. Pyrofex has dedicated their full team of 20+ world class developers and mathematicians to build and support the development of the RChain platform.

Reflective Ventures was founded by Greg Heuss, David Otto and Steve Careaga to invest in blockchain startups; The RChain Cooperative is their first limited partner and has invested 100M RHOCs, (RHOCs are the current tokens, which will be converted to the native RChain utility token “REV” when the platform launches). Reflective Ventures intends to invest in at least 12 startups committing to build on top of RChain’s platform.

Pithia, “The RChain Venture Company”, outlined their plans to use 100M RHOCs to invest in RChain companies across several dimensions. Pithia invests in concept stage and mature blockchain companies that are dedicated to or enable RChain. This includes concept stage companies that are building for the first time, mature companies desiring to move to RChain, and existing software companies adding blockchain to their technology stack.

RChain has also created the RChain Research working group dedicated to future-proofing the RChain platform in a way that will realize RChain’s full potential as the public information utility of this millennium; including 1) Quantum consensus considerations 2) Artificial Intelligence 3) Correct-by-Construction Casper and 4) Innovation on the Logic as Distributive Law (“LADL”) algorithm.

Today, blockchain platforms lack industrial grade scalability and speed. RChain is natively concurrent because the model of computation is designed to be concurrent from the ground up. It includes a new virtual machine called the Rho Virtual Machine, a new concurrent programming language called Rholang, and a new proof-of-stake consensus protocol being built by Vlad Zamfir and Michael Birch. In early February, the RChain SDK was publicly released as the team continues to work towards Mercury, the platform’s mainnet launch. To test out the SDK and stay updated on RChain’s progress, join the community here: https://developer.rchain.coop.

“When the Apple App Store launched they launched with 500 apps ready and waiting to wow their customers. When Mercury launches we aren’t going to have 500 apps already made. What we lack in quantity we will make up for in quality. The Cryptofex tool suite is going to knock blockchain developers’ collective socks off and the Resonate performance centered music services is going to rock all around the globe. Perhaps more importantly, Pithia and Reflective Ventures are set up to attract those who are harboring dreams we could never have imagined and are ready to reshape the world by making them real.” — Greg Meredith, RChain Cooperative President

“Pyrofex is thrilled to be a part of the RChain ecosystem and we’re all looking forward to working with Reflective and Pithia. We’re very impressed with the teams they’ve put together and will be excited to interact with the startups they fund.” — Nash E. Foster, Pyrofex CEO

“We are committed to funding and ultimately building the next generation of blockchain innovation. In contrast to traditional models associated with early stage venture capital investing that typically lack supportive oversight, our firm’s senior leadership will leverage its experience to evaluate, staff, and build each incubated company’s technology team, as well as train and provide hands-on access to the RChain blockchain platform.” — Greg Heuss, Managing Partner, Reflective Venture Partners

“Pithia, the bridge from the blockchain world to the real world, is committed to investing in and furthering companies in the RChain ecosystem with partners from industry, education and finance communities. We’re pleased to announce we’ve launched our first Working Group in Identity to aid in development of blockchain standards. “ — Lawrence I Lerner, CEO Pithia, Inc.

To join The RChain Cooperative, please go to member.rchain.coop. Based on the great collaborations at the recent Governance Forum, this portal will be re-engineered to better suit the governance requirements necessary for the Cooperative to scale. Each member gets one vote, net redistributed surplus of REVs spent for applications, and early access to DApp token sales from partner projects. Once you join as a member you can contribute to code, marketing and other activities and get rewarded in RHOC tokens for member-approved work. Developers can get started with RChain by going to the developer website and reviewing the Getting Started Tutorial. Developers can also begin playing around with an early version of the SDK and setting up test nodes.

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About Pyrofex

At Pyrofex, we build high-performance distributed development tools that are easy to use, secure, and continuously reliable. Large-scale distributed computing should be easier and more accessible. We intend to make it that way.

About Reflective Ventures

Based in Seattle, WA, Reflective Venture Partners is a privately owned and managed venture firm that originates from an ongoing strategic partnership with RChain Cooperative, a next generation blockchain applications platform that is currently in development. With a mandate to grow the RChain ecosystem, Reflective Venture Partners provides strategic financing and designs token generation events (TGEs) for innovative blockchain specific dApps and complementary technologies that have strong growth potential for the RChain blockchain ecosystem. For more information, visit www.reflectiveventures.io.

About Pithia, Inc.

Headquartered in Washington State, Pithia (formerly RChain Holdings) is a venture firm. Pithia is “The RChain enabler,” founded by the creators of RChain to invest in and develop the ecosystem. One of the more valuable benefits we offer is a deep network to help CEOs grow their blockchain companies. We fund companies at the concept stage and mature companies moving to RChain. Our leadership is broadly connected to global technology and consumer companies, educational institutions, and a diverse entrepreneur and engineering community. We’re building the FinTech network of entrepreneurs, Limited Partners and business leaders to enable the latest generation of blockchain. Join us at www.pithia.com

Other Resources

Official Website — rchain.coop

Blog — https://medium.com/rchain-cooperative

Developer Portal — developer.rchain.coop

Membership Portal — member.rchain.coop

Livestreams and Recorded Media — RChain YouTube

Twitter — @rchain_coop