Coin Labs invests $30 million in new cryptocurrency

MobileCoin is a new privacy-centric cryptocurrency. The company announced that Coin Laboratories will provide $30 million in financing for this.

This blockchain technology incubator associated with cryptocurrency exchanges is leading a $30 million investment in Bitcoin and Ethereum- denominated prices. According to TechCrunch reported, the new cryptocurrency can "enjoy priority" because it is related to the currency as part of security. In addition to cooperating with Coin Labs, MobileCoin also has geinious like Moxie Marlinspike. As a technical consultant, he is the founder of Signal, an crypto-messaging application. Shane Glynn has served as a product consultant for Google since 2010 and served as legal counsel to ensure that MobileCoin complies with crypto regulations.

In the MobileCoin White Paper released in December 2017, the creators of the project described their intention to develop a "quick, private, and easy-to-use cryptocurrency that can be deployed in a resource-constrained environment for a long time. Users who cannot reliably maintain the key within the time do not need to give up control of the payment processing service." According to reports, MobileCoin will use the Star Consensus protocol to synchronize to the crypto network, ensuring scalability and speed, and the final product Will be integrated into mobile communications applications.

MobileCoin is designed to allow mobile communications applications such as WhatsApp, Facebook Messenger or Signal to be integrated with MobileCoin wallets." Coin Labs commented on the funding: "Mobile priority, user-friendly, crypto currency , such as MobileCoin, in driving the mainstream crypto currency.