Sperax is Aiming to Enable Decentralized Financial Services

While the global economy is being severely impacted by the coronavirus crisis, Sperax, a Silicon Valley-based blockchain company, is aiming to build a trusted infrastructure for a decentralized economy that may provide far greater efficiency, flexibility and self-governance than the traditional economic model.

With its innovative BDLS consensus protocol, Sperax offers a high-performance module that is more secure than other BFT based consensus protocols, such as Cosmos Tendermint, Polkadot Grandpa and Ethereum Casper. To facilitate token economy integration, Sperax introduces an embedded financial layer, which allows developers to create more decentralized use cases, applications and business models that connect with financial transactions in the physical world.

After seeing the severe lack of user friendliness in blockchain-enabled decentralized financial applications as well as the big disconnect between the traditional financial industry and the cryptocurrency world, Sperax team believes that scalable blockchain applications should not require end users to interact with blockchain itself, while enjoying the benefits of the underlying technology. Through partnerships with regulated financial service operators and payment integrators, applications built on Sperax infrastructure can connect the traditional finance world with the cryptocurrency world. Sperax is currently working with a Hong Kong licensed virtual bank to support cross-border transactions based on the stablecoin network and offer more competitive transaction fees.

Sperax released its BDLS consensus module on GitHub in March 2020 and plans to release its testnet in June 2020. “Sperax.io is going to surprise a lot of people this year when they launch,” said Ryan Zurrer, the former partner of Polychain Capital and Web 3 Foundation, who joined Sperax as an advisor for token economics and governance design.

Sperax closed a 6+ million USD seed funding round in January 2020, with leading investors including Outlier Ventures, FBG Capital and NewStyle Capital.

On March 18, 2020, Sperax launched its first public sale on Cobak, Korea’s largest cryptocurrency community, with a 200,000 USD allocation sold out in less than 20 minutes.

About Sperax

Sperax is a blockchain infrastructure company focused on enabling decentralized financial services. Sperax is headquartered in Menlo Park, CA with teams in Silicon Valley, Beijing and Singapore. Learn more at https://sperax.io/. Follow Sperax on Medium, Telegram, Twitter.

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