Gem Gets Another $1.3 Million, to Accelerate Feature Development

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term wallet and API provider GEM has secured another $1.3 million in funding. Combined with an earlier round in September, which coincided with the hiring of a former PayPal exec as COO, the Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term has now secured a total of $3.3 million.

The round was led by KEC Ventures, with other investors including First Round Capital, RRE Ventures (also a participant in the first round) and early Facebook investor Robert Wolfson.

According to its website, Gem provides Bitcoin application developers with pre-built, full-stack Bitcoin API, multisig wallet and security functionality. With this out of their way, developers can focus on the application’s unique components and potentially complete it with just a few lines of code.

It also says to have built out a "redundant infrastructure", allowing developers to offer 100% uptime. Recently, the startup released an API for its multisignature wallet, which was also recently enhanced by the addition of Hardware Security Modules (HSMs) from payment security provider Thales e-Security.

The latest investment will go towards accelerating feature development and scaling its offering for developers.

There has been a recent surge in the creation of tools for Bitcoin application developers, with a number of startups racing to get their offerings to the market, some receiving substantial sums of capital in the process.