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The Separation of Time and State

By Ryan Gentry

July 16, 2019 | 18 minute read

Numerous smart contract platforms (e.g. Ethereum 2.0, Polkadot, Dfinity, Near Protocol, Algorand, Kadena, Spacemesh, and Solana) are launching in the next year or two. Each team is pursuing a unique scaling strategy. Most of these approaches, however, do not address one of the fundamental problems with distributed computing systems in Byzantine environments: the clock problem.

Our Investment in Torus

By Kyle Samani

July 9, 2019 | 5 minute read

Today I’m excited to announce that Multicoin Capital has led a $2M seed round in Torus with, including participation from Binance Labs, Coinbase Ventures, Accomplice, Sixth Horizon, and Terminal.

Our Investment in dfuse

By Kyle Samani

June 26, 2019 | 3 minute read

I’m excited to announce that Multicoin Capital has co-led a $3.5M investment in dfuse with Intel Capital, including participation from Diagram Ventures.

Our Investment in Helium

By Tushar Jain

June 12, 2019 | 7 minute read

I’m extremely excited to announce that Multicoin Capital co-led a $15M financing in Helium with our friends at Union Square Ventures. The Helium vision is the most ambitious we have seen in the blockchain space since the advent of smart contracts on Ethereum: Helium represents a fundamentally new approach—one with a radically reduced cost structure—to deploying and managing wireless networks at scale.

The Unbundling Of Ethereum

By Kyle Samani

May 24, 2019 | 10 minute read

Today, Ethereum is the leading smart contract platform. While the trust-minimization properties of Ethereum are compelling, many developers are realizing that Ethereum simply cannot support the applications they want to build. Because of this, developers are choosing to build on other chains at an increasing pace. What applications are being unbundled from Ethereum, what applications are increasingly bundling around Ethereum, and what are the long-term implications for ETH’s monetary premium?

Inside the Room at the Spring 2019 Multicoin Summit (Videos)

By John Robert Reed

May 14, 2019 | 5 Minute Read

The Multicoin Summit is an invite-only event that brings together some of the brightest minds in crypto to discuss the most important trends and topics shaping the industry. Though our events are primarily for our LPs and industry partners, we strive to make the ideas discussed as accessible as possible to you, our readers.

Crypto Mega Theses

By Kyle Samani

April 24, 2019 | 16 minute read

Open, distributed ledgers and permissionless, censorship-resistant, trust-minimized computation are going to reshape massive sectors of the global economy. This belief led us to found Multicoin Capital in 2017, and after spending two years with entrepreneurs, business leaders, and investors in this space, we’ve developed more conviction in this thesis than ever before.

On Value Capture at Layers 1 and 2

By Kyle Samani

March 14, 2019 | 8 Minute Read

Among the crypto development and investor communities, the most popular term is “protocol,” and for good reason. Everyone is building a protocol (and presumably these protocols offer investors and employees some way to generate returns).

Binance Coin ($BNB) Analysis and Valuation

By Tushar Jain

February 19, 2019 | 5 Minute Read

Binance is the crypto exchange that best exemplifies Bezos’s famous quote. The industry leading exchange charges the lowest fees in the industry as a strategy and competitive advantage.

Our Investment in The Graph

By Kyle Samani

January 28, 2019 | 3 Minute Read

I’m proud to announce that Multicoin has led a $2.5M seed round in The Graph. We believe that The Graph is going to be one of the most important protocols in the Web3 stack.

The Separation of Time and State

By Ryan Gentry

July 16, 2019 | 18 minute read

Numerous smart contract platforms (e.g. Ethereum 2.0, Polkadot, Dfinity, Near Protocol, Algorand, Kadena, Spacemesh, and Solana) are launching in the next year or two. Each team is pursuing a unique scaling strategy. Most of these approaches, however, do not address one of the fundamental problems with distributed computing systems in Byzantine environments: the clock problem.

Our Investment in Torus

By Kyle Samani

July 9, 2019 | 5 minute read

Today I’m excited to announce that Multicoin Capital has led a $2M seed round in Torus with, including participation from Binance Labs, Coinbase Ventures, Accomplice, Sixth Horizon, and Terminal.

Our Investment in dfuse

By Kyle Samani

June 26, 2019 | 3 minute read

I’m excited to announce that Multicoin Capital has co-led a $3.5M investment in dfuse with Intel Capital, including participation from Diagram Ventures.

Our Investment in Helium

By Tushar Jain

June 12, 2019 | 7 minute read

I’m extremely excited to announce that Multicoin Capital co-led a $15M financing in Helium with our friends at Union Square Ventures. The Helium vision is the most ambitious we have seen in the blockchain space since the advent of smart contracts on Ethereum: Helium represents a fundamentally new approach—one with a radically reduced cost structure—to deploying and managing wireless networks at scale.

The Unbundling Of Ethereum

By Kyle Samani

May 24, 2019 | 10 minute read

Today, Ethereum is the leading smart contract platform. While the trust-minimization properties of Ethereum are compelling, many developers are realizing that Ethereum simply cannot support the applications they want to build. Because of this, developers are choosing to build on other chains at an increasing pace. What applications are being unbundled from Ethereum, what applications are increasingly bundling around Ethereum, and what are the long-term implications for ETH’s monetary premium?

Inside the Room at the Spring 2019 Multicoin Summit (Videos)

By John Robert Reed

May 14, 2019 | 5 Minute Read

The Multicoin Summit is an invite-only event that brings together some of the brightest minds in crypto to discuss the most important trends and topics shaping the industry. Though our events are primarily for our LPs and industry partners, we strive to make the ideas discussed as accessible as possible to you, our readers.

Crypto Mega Theses

By Kyle Samani

April 24, 2019 | 16 minute read

Open, distributed ledgers and permissionless, censorship-resistant, trust-minimized computation are going to reshape massive sectors of the global economy. This belief led us to found Multicoin Capital in 2017, and after spending two years with entrepreneurs, business leaders, and investors in this space, we’ve developed more conviction in this thesis than ever before.

On Value Capture at Layers 1 and 2

By Kyle Samani

March 14, 2019 | 8 Minute Read

Among the crypto development and investor communities, the most popular term is “protocol,” and for good reason. Everyone is building a protocol (and presumably these protocols offer investors and employees some way to generate returns).

Binance Coin ($BNB) Analysis and Valuation

By Tushar Jain

February 19, 2019 | 5 Minute Read

Binance is the crypto exchange that best exemplifies Bezos’s famous quote. The industry leading exchange charges the lowest fees in the industry as a strategy and competitive advantage.

Our Investment in The Graph

By Kyle Samani

January 28, 2019 | 3 Minute Read

I’m proud to announce that Multicoin has led a $2.5M seed round in The Graph. We believe that The Graph is going to be one of the most important protocols in the Web3 stack.

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Multicoin Capital is a thesis-driven investment firm that invests in cryptocurrencies, tokens, and blockchain companies reshaping trillion-dollar markets.

Blog post

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The Separation of Time and State

Our Investment in Torus

Our Investment in dfuse

Featured

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Crypto Mega Theses

$100 Trillion

The Web3 Stack

Podcasts

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Podcast: Tushar Jain and Jake Brukhman Talk Generalized Mining With Laura Shin on the Unchained Podcast

Podcast: Tushar and Kyle on Invest Like the Best Podcast With Patrick O'Shaughnessy

Podcast: Tushar and Dhruv Discuss ASIC Mining, Chia, and Mining Decentralization

Videos

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Inside the Room at the Spring 2019 Multicoin Summit (Videos)

Multicoin Summit Panels: Fall 2018

Multicoin Summit: the State of Dapp Development