Posted 9 months ago | by Ben Armstrong

Binance Invests in HOPR as it Prepares to Launch its Public Testnet

The cryptocurrency exchange continues its expansion by investing $1 million through its Binance Labs program in data privacy startup HOPR as it gets ready for the launch of its first public testnet.

Binance has been increasing its investments and acquisitions as its expansion continues, bringing new features and benefits to the platform that will make the experience better for its users. To take advantage of everything Binance has to offer, make sure to click here to sign up.

HOPR Will Provide Privacy and Security in Any Data Exchange

HOPR is a Web 3 data privacy-protecting startup that received the investment ahead of its token sale as well as the launch of both the testnet and community support program on July 16th.

Binance’s Strategy Officer, Gin Chao, commented on regards to this investment:

“As Web 2.0 showed that companies and corporations are in control of a user’s information and data, the team at HOPR has shown us how their decentralized network achieves privacy guarantees on the metadata level and gives power back to the people. We’re very excited to lead this investment round in HOPR, and support a talented and experienced team of developers, cryptographers, and scientists, led by Dr. Sebastian Bürgel, one of the leading decentralized application architects.”

HOPR’s protocol is the first open incentivized privacy and data protection platform, ensuring that users of a network can communicate privately while protecting their metadata in any kind of data exchange that takes place.

Get Rewards for Helping to Protect Privacy

Anyone will be able to run a HOPR Node and expand the network, earning rewards in the form of HOPR tokens as well as being able to stack them while increasing the privacy for the network’s users.

HOPR token holders will also be able to participate in the decentralized governance of the network as it will have a Decentralized Community-enabling Governance (DeCEnGov) which the startup ensures will allow a legally established body to govern the collective efforts.

With blockchain technology and cryptocurrencies heavy focus on increasing privacy and creating autonomous decentralized systems, the privacy that the HOPR network offers perfect synergy with crypto’s philosophy.

Binance Labs has also recently invested in other startups like Focus Labs, Spark Digital Capital, Caballeros Capital, and Synaitken, as the platform expands its horizons into multiple sectors of the industry.

Articles on Bitboy may contain affiliate links that help us to remain profitable. It might come as a surprise, but all these great articles aren't cheap to produce. If you don't mind helping us out, please click on the links!