Peter Thiel and Digital Currency Group invested $ 2.1 million in the cryptocurrency company Layer1

The Crypto Investment and Infrastructure Platform Layer1 announced the closing of a $ 2.1 million initial financing round, supported by such well-known investors as PayPal co-founder Peter Thiel and Digital Currency Group (DCG).

A San Francisco-based company, as its CEO Alexander Ligl says, has a long-term approach to cryptoactive assets with promising technologies and a network effect, allocating capital and resources to improve their fundamental value and support broader market acceptance.

Here's a difference. https://t.co/Vw2CGarHRp

– Alexander Liegl (@alexanderliegl) December 19, 2018

In particular, Layer1 pays increased attention to programmable money and store-of-value applications, which the company believes have the potential to create genuine values.

“We believe that the crypto-investment companies of the future will look completely different, focusing primarily on the engineering and proactive investment approach. Cryptocurrency as an open source protocol gives companies like Layer1 an unprecedented opportunity to create meaningful values. This is a fundamental difference from the possibilities that traditional asset classes have, ”said Alexander Ligl.

At the moment, Layer1 is working closely with the developers of the notorious MimbleWimble protocol and the private cryptocurrency Grin created on its basis, working to create the infrastructure that will ensure its further growth.

First introduced in 2016, Mimblewimble was initially aimed at significantly reducing the size of the bitcoin blockchain and increasing user privacy, as well as expanding opportunities for network scaling.

The plans to create their own cryptocurrency Grin were announced in September 2017, and its official launch is expected in early 2019. Also in the developers' plans are holding regular hard forks to combat ASIC miners – as stated earlier, such upgrades will be carried out every six months for two years after the launch of the main Grin network.

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