Purse Announces $1 Million Funding, “Secret Bitcoin Project” Tritium

Purse, a startup specializing in helping online shoppers save when paying with 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, has secured $1 million in funding from Barry Silbert’s Digital Currency Group.

Purse lets users sell off their unwanted Amazon gift cards at a discount, in exchange for bitcoins paid by the buyer. Users have reported savings of 10% to 20% on merchandise through the service.

The funding round, reported by CoinDesk, is the startup’s second in roughly a year. Previously, it secured $300,000 in funding to build new apps and improve the user experience. Its platform has since added new merchants in addition to Amazon.

As part of the announcement, Purse mentioned a “secret Bitcoin project” called Tritium, which would bring “new value to consumers and partners.”

Tritium, in its physical definition, is a radioactive isotope of hydrogen. Its nucleus contains three components: two neutrons in addition to the standard proton.

The funding is the industry’s first this month, which is likely to be a quiet one. Crypto industry investment this quarter has been relatively sparse, continuing a downtrend that started earlier this year. $27 million in investments have been announced this quarter, versus $117.6 million in Q4 2014, according to Finance Magnates data.

Venture investment has been increasingly shifting toward Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technologies, with decreasing focus on bitcoin as a currency.