BlockCypher raises USD 3.1 mln in funding

Bitcoin’s collapse may have little impact on BlockCypher, since the company’s technology works for any cryptocurrency.

In its first applications the company focused on a way to reduce the transaction time for processing a Bitcoin with a predictive tool to determine whether the blockchain would approve a transaction.

Among the investors there are companies like Coinalytics, which is building analytics and insight into what’s happening on the bitcoin blockchain, the Singaporean exchange CoinHako or Palarin, a remittance company from the Philippines.

Other investors in the round include Foundation Capital, New Enterprise Associates, Jerry Yang (through AME Cloud Ventures), Upside Partnership, Streamlined Ventures and Fenox Venture.