Validation Capital invests in Fetch.ai as a commercial validator
May 24, 2021
Marks the latest in a series of strategic partnerships Fetch.ai has made this year following their Mainnet 2 launch on March 31.
Fetch.ai and Validation Capital would like to officially announce that Validation Capital has on-boarded as a validator and is investing an undisclosed amount in Fetch.ai.
Validation Capital provides secure node infrastructure and investment capital to blockchain networks, with a focus on networks primed for commercial adoption. Fetch.ai’s recent collaboration with the Catena X automotive alliance featuring Mercedes Benz, Volkswagen, BMW, and other large automotive companies, points to a rapidly growing institutional and enterprise interest in the Fetch.ai ecosystem.
This investment will be instrumental in bringing Fetch.ai’s vision of AI and blockchain-based applications closer to commercialization. Fetch.ai will allocate the funds towards research and development of DeFi applications as well as further development of existing use cases.
”Validation Capital is excited to partner with Fetch.ai and will help grow the network as a validator and investor. The Fetch.ai team are leaders in decentralized machine learning and are building a platform that will empower limitless commercial applications.”
– Alex Altman, COO and Co-founder of Validation Capital
Validation Capital will continue to operate an institutional-grade validator node and support Fetch.ai’s ecosystem as it expands to a broader community.
“We at Fetch.ai are excited to work with Validation Capital as a strategic partner. Their expertise in network infrastructure and crypto-advisory will enable Fetch.ai to deliver industry-leading innovations”
– Jonathan Ward, CTO, Fetch.ai
The v2.0 of Fetch.ai Mainnet which launched on 31.03 is a major step towards building an AI-powered blockchain that allows businesses and individuals to deploy Autonomous Economic Agents (AEA) for DeFi applications such as Stop-Loss agents and Agent based Oracles that are interoperable with many chains such as Polkadot, Cosmos, Harmony and more.
The Fetch.ai v2.0 ledger is being built using the Cosmos-SDK and will offer full interoperability between Fetch.ai’s native token (FET), other IBC-compatible chains, and the ERC-20 token via a Gravity-based interchain bridge. The Fetch.ai ledger is set to include a decentralized random beacon (DRB), and the integration with Tendermint will result in secure consensus, compact multi-signatures for reducing storage costs, and a slot Proof-of-Stake consensus (sPoS) that reduces computational burden and protects validators from operating nodes at a loss.
Fetch.ai’s overall goal is to transition from the current centralized, siloed economy, based on a network of intermediaries implying a lost of costs, and on a lot of error-prone and time wasting manual operations, to a smarter, automated ecosystem and economy, based on intelligent machine-to-machine communication and payment system. The ecosystem to come will be more efficient and more convenient, quicker, cheaper for everyone, and let people focus on what really matters for them and what only humans can do.
Besides Validation Capital, several other experienced validators have also agreed to operate the Fetch.ai network with links to their company websites displayed in our block explorer.
Further information can be found in the following articles:
- How to delegate your stake to the validators to begin staking on the Mainnet 2.0.
- The roadmap for the next six months, and most importantly the tokenomics of the blockchain and how staking will evolve over the coming months.Our launch validators, the role of the foundation on the mainnet and how we plan to expand our validator pool in the future
Fetch.ai is building a decentralized machine learning platform based on a distributed ledger, that enables secure sharing, connection and transactions based on any data globally.
And for anyone to be able to bring their part to building this decentralized ecosystem and economy better and faster, it also provides the right open-source infrastructure and development tools to do so.
About Validation Capital
Validation Capital (“VCC”) is an infrastructure and investment firm for blockchain networks. VCC provides secure node infrastructure, investment capital, and advisory to industry leading networks including Chainlink, VeChain and Flow, among others. VCC’s team brings a blend of Wall Street and engineering talent. VCC’s finance team has more than 25 years of capital markets and investing experience from firms including CIBC and BMO. The engineering team brings enterprise best practices in cybersecurity and network architecture from Deloitte.