Business
SatoshiPay receives R&D Grant for Pendulum
SatoshiPay receives R&D Grant for Pendulum.
About this update from Blue Star Capital Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9581A\n Blue Star Capital plc\n 07 June 2021\n \n \n \n \n 7June 2021\n \n \n \n \n \n Blue Star Capital plc\n \n \n \n \n \n (\"Blue Star\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n \n Blue Star Capital's investee SatoshiPay receives R&D grant from Stellar Development Foundation for Pendulum blockchain\n \n \n \n \n \n \n \n \n \n Blue Star Capital plc (AIM: BLU), the investing company with a focus on esports, payments, technology and its applications within media and gaming, notes the announcement by SatoshiPay, one of its investee companies, this it has received an R&D grant from Stellar Development Foundation.\n \n \n \n \n \n SatoshiPay is a fintech company supplying payment and money transfer infrastructure based on blockchain technology to digital industries and globally operating SMEs.\n \n \n \n \n \n In its blog, SatoshiPay advises that the Stellar Foundation grant will be used to kickstart the development of the Pendulum network project and develop a proof-of-concept implementation of Pendulum. After completing the initial proof of concept, it is expected that Pendulum will be further developed into a full-fledged decentralised layer 2 blockchain that will be accessible for everyone. \n \n \n \n \n \n The Pendulum network is a new second-layer blockchain that connects Stellar to the wider Deconstructed Finance (DeFi) ecosystem by adding smart contract support and bridges to Ethereum and Polkadot.\n \n \n \n \n \n In order to bring more complex features to the Stellar network without sacrificing the network's efficiency, SatoshiPay is planning to build Pendulum, a suite of open, decentralised protocols on which smart contracts can be developed and executed. The Pendulum chain acts as a second layer on top of Stellar, with additional bridges to two of the most popular smart contract platforms, Ethereum and Polkadot.\n \n \n \n \n \n The latest news further strengthens SatoshiPay's position as a leading player in Decentralised Finance (DeFi) which has emerged in the past year and is positioned to profoundly disrupt traditional financial services like trading, credit/lending and yield-generating accounts. The industry has grown over twentyfold in 2020 alone, and reached more than USD 60 billion in Total Value Lo...