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Ethereum, Cardano Foundations among top 50 blockchain firms in Crypto Valley

Mark Prestwood

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Ethereum, Cardano Foundation among the top 50 blockchain firms in Crypto Valley
Source: Unsplash

Built on scientific philosophy and peer-reviewed academic research, the “third-generation” blockchain platform, Cardano, has often been touted as one of the best blockchains in the cryptocurrency space. Working alongside IOHK, a tech startup founded by Charles Hoskinson and Jeremy Wood, Cardano’s journey from the early stages of Byron to the most recent development of the Shelley stage, the roadmap seems to be strong.

Adding a feather to its cap, Cardano made it to the top 50 blockchain organizations in a recent report by an investment firm, Crypto Valley Venture Capital [CV VC], in Zug, Switzerland, for the third time.

The top 50 companies by industry sector in the Crypto Valley also included big names like mining firm, Bitmain and interestingly another Charles Hoskinson’s co-founded, second-generation blockchain, Ethereum. The open-source blockchain platform Ethereum Foundation was recently reported to have $19 million of its funds allocated to towards Ethereum 2.0-specific rollouts such as client development, state channels & plasma, formal verification, and EWASM.

Source: CV VC

The CV VC report read that the current bullish trend in the valuation of cryptocurrencies drove the market cap of the 50 largest Blockchain companies in Switzerland and Liechtenstein from $20 billion in the late December 2018 to more than $40 billion in July 2019.

Cardano Foundation Chairperson, Nathan Kaiser, on the latest achievement, commented,

“This positive development indicates maturity and growth, and we are proud to be a part of it. What we need next is to continue collaborating and working together with others in the industry towards a favorable regulatory and business environment.”

Talking about the incessant crypto winter that led to significant declines in the price of cryptocurrencies and pushed many promising projects to closure, Mathias Ruch, Founder, and CEO of CV VC, stated that firms with “strong fundamentals” and “emerging use cases” had considerably increased valuations.

Mark is a full-time member of the Editorial team of AMBCrypto. With his five-year experience as a business editor for one of the largest dailies in the US, Mark brings sanity and order to our editorial team. Mark is a business major and loves building automotive parts when he's not working. Email him at [email protected] or [email protected]