Andra Capital, a San Francisco based venture capital firm have been given the go-ahead to issue their Silicon Valley Coin (SVC) via a Security Token Offering (STO).
SVC will utilize TokenSoft’s issuance platform and be built on the Tezos blockchain.
Andra Capital is an open-ended technology fund that allows investors to invest in a blockchain-based token, in this case, Silicon Valley Coin.
The Fund plans to invest in blockchain technology the investment has coincided with a spike in price for the $XTZ Tezos Token.
Developed by ex-Morgan Stanley analyst Arthur Breitman. Tezos (XTZ) is a multi-purpose platform that supports dApps and smart contracts.
It aims to combine a self-correcting protocol and on-chain governance to manage network modifications.
Tezos is powered by XTZ, which is created through ‘baking’.
Bakers put up deposits and are rewarded for signing and publishing blocks. Witnesses then validate the blocks.
Dishonest bakers lose their XTZ deposits. Tezos uses delegated proof-of-stake (DPoS) and supports Turing complete smart contracts.
Tezos is implemented in the OCaml programming language, which is said to offer ‘functional, imperative, and object-oriented styles’.