Stripe Backed Tempo Announces Investment In Crypto Infrastructure Firm Commonware
Stripe-backed Tempo has announced its first venture focused move with a $25 million investment in cryptocurrency infrastructure firm Commonware. As part of the latest transaction, the stablecoin-powered blockchain, Tempo, being developed by venture firm Paradigm and payments Fintech Stripe, will leverage the Commonware Library. It will also aim to serve as a core contributor to its development. This, according to Paradigm general partner and Chief Technical Officer Georgios Konstantopoulos.
Konstantopoulos said that they were impressed by the Commonware team’s approach to implementing consensus algorithms as a library, and they now continue to look forward to their progress on the frontier of distributed systems.
They also…
