PeerNova Gets $5 Million Investment from Overstock

Overstock.com has invested $5 million in 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 software startup PeerNova.

The investment is the second tranche of a Series A round. Combined with another $8.6 million secured last December, it brings total debt and equity financing to $19 million.

PeerNova formed last this year when mining hardware maker HighBitcoin merged with CloudHashing, which sold mining contracts. It has since evolved into blockchain software, with the eventual aim to develop innovations like decentralized applications, smart property, smart contracts and e-currency software-as-a-service (SaaS) applications.

For Overstock, it is its first major 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 industry investment. The company has been digging further into the cryptocurrency space ever since it started accepting bitcoin roughly 15 months ago. Said CEO Patrick Byrne, an ardent cryptocurrency advocate:

"With our knowledge of PeerNova’s projects and Overstock’s suspicion of society’s reliance on centralized systems, we believe that this collaboration forms a win-win. I believe such crypto technologies will solve many social problems that flow from our society’s reliance on centralized systems."

The funding will go toward accelerating the development of two core enterprise products focused on data security and financial applications, as well as expanding the PeerNova team.

For a detailed list of recent investment and M&A activity in the crypto industry, please visit the DC Magnates Crypto Deal Table.