MIT Professor's Blockchain Protocol Nets $62 Million in New Funding

MIT Professor's Blockchain Protocol Nets $62 Million in New Funding

Algorand, the blockchain protocol founded by MIT professor and Turing Award winner Silvio Micali, has raised $62 million in new funding.

The investment comes from a "broad global investment group representing the venture capital, cryptocurrency and financial services communities," according to a press release published Wednesday.

The company told CoinDesk in an email that, with the new capital, it's now planning to further expand its engineering team as it moves towards the protocol's launch.

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