It is reported that the international 5G public chain MODERN developed by Canadian independent blockchain laboratory MODERN Labs has completed a private equity financing plan of 6 million US dollars. This financing plan was led by Longbow Capital, and many investors including FBG Capital, Metastable, Jones Lang LaSalle Incorporated, Prodigy Bank, Digital Finance Group, and QUESTRADE had over-invested, which was $1 million more than the original plan. 

Olivier Roussy Newton, co-founder and team leader of MODERN Labs, said that the new funds will be used to further develop the Modern blockchain network and invest in the upcoming Modern public chain testing and later technical improvement.

In addition, Olivier Roussy Newton said, in the process of storing traditional mobile device-centric data on decentralized blockchain distributed mobile nodes, we encountered many difficulties and challenges, from overall architecture design to node coding development, from consensus algorithms to object storage, from encryption algorithms to broadcast strategies, from performance tuning to network jitter, we solved one challenge after another and implemented many innovations.

At present, Modern Public Chain has made further achievements on 5G blockchain. By using the global data transmission function of 5G base stations, Modern can position every mobile device as a secondary node of data transmission at the bottom of the blockchain, and provide effective support for the on-chain network through the transmission and storage of effective data. so as to obtain the chain data transmission and block information packaging incentives.

We believe that Modern will become the key pillar of the future mobile distributed network and promote the safer and more convenient large-scale adoption of the decentralized mobile Internet ecosystem.