Interestingly, Xunlei is operating the fund outside of its native China, likely to complete international investments. Now we know the firm plans to invest heavily in blockchain initiatives from business models to digital assets. Xunlei made over $47 million in revenues over the last quarter, which is a net loss of $2 million. As a US-listed company, this concern caused share prices to fall and class actions. Some investors complained this token was a ‘disguised ICO’, despite Xunlei insisting otherwise. To fund its development, Xunlei released the Linktoken in 2017 which was given to users in exchange for a contribution of bandwidth. Though its move to blockchain wasn’t entirely smooth. Meanwhile, ThunderChain supports Ethereum smart contracting language Solidity and can link to the Ethereum Virtual Machine. Its impressive transaction rate is realized through separate chains working in parallel. Released in April last year, ThunderChain focuses on high performance and interoperability.
In 2017 Xunlei moved towards blockchain and developed ThunderChain, its multichain platform, which claims to reach one million transactions per second. The firm boasts former directors of Tencent and Xiaomi on its board. The fund will be worth up to $100 million and operate independently from Xunlei’s Chinese entities.įounded in 2003, the company provides cloud computing services such as its download manager, the most popular in China, and peer to peer software. Yesterday, China-based cloud hosting firm Xunlei announced that it will establish a private equity fund for blockchain technology investments.
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