Switzerland: Cross-chain visionaries Lamden today announced that their Tau token sale will begin mid-December with a goal of raising a total of US$10 million. The Tau token can intertwine multiple blockchains and cryptocurrencies and is future proofed for potential innovations in blockchain protocols.
The team behind Lamden wants to solve the problem of the slow pace and cost of private blockchain creation for companies wanting to exchange information and value with their suppliers and partners who are on their own custom blockchains.
Along with the Tau interoperability token, they have developed a range of tools that anyone with a knowledge of programming can deploy to easily create private blockchains in days or weeks rather than months or years.
Founder and CEO Stuart Farmer said, “Modern technology companies often offer their services for free and host the systems themselves. Why is a blockchain any different? It’s because of the proof of work system that blows the processing power required through the roof, and is thus more expensive to run. By getting rid of the pointless hashing, we save costs to operate the network. A cheaper network means cheaper transactions.”
Swiss-based Lamden plans to use a portion of the capital raised during the December crowdsale to start an innovation fund for Enterprise Case Studies with pioneering Fortune 500 partners to help accelerate the deployment of blockchain technologies in large commercial organizations around the world.
Lamden’s own executive team and advisors come from a diverse set of backgrounds ranging from Fortune 500 companies to tech startups including Visa, Volkswagen, AT&T, Apple, and eBay.
The Tau token crowdsale will be announced 24 hours in advance on Lamden’s Twitter @lamdenio.
Founded in August 2017, Lamden is a software package of development tools that includes a blockchain generator, community collaboration tools, and independent chain-to-chain communication to create vast networks of blockchain applications that can transfer any asset across them.