Blockchain chip startup Chain Reaction completes $70 million funding, led by Morgan Creek Digital

ChainCatcher news, blockchain chip startup Chain Reaction has completed a $70 million financing round, led by Morgan Creek Digital.

Alon Webman, co-founder and CEO of Chain Reaction, stated that the company will begin mass production of its blockchain chip Electrum in the first quarter of this year. The chip is designed to execute blockchain operations known as "hashing" very quickly and efficiently, and can also be used for mining digital currencies such as Bitcoin. (Reuters)