ParallelChain Secures $50M Commitment to Advance Enterprise-Focused Blockchain Use

Blockchain’s disruptive capabilities have penetrated multiple industries seeking to leverage the technology’s decentralization and beneficial attributes. Yet, enterprise adoption is one area where blockchain has struggled to gain traction, primarily due to demands from commercial applications for greater scalability, interoperability, and data concealment. To answer these needs, layer-1 blockchain ecosystem ParallelChain addresses the shortcomings of existing blockchain technology while unlocking a diverse range of real-world applications. The blockchain ecosystem is highly customizable and consists of two layer-1 platforms: a public mainnet and private networks. By combining these two network types, ParallelChain grants enterprises the ability to create permissioned networks that satisfy their data security and scalability constraints.