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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?

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.

What P2P Markets are Better Decentralized?

By Kyle Samani

January 8, 2019 | 10 Minute Read

Over the last 20 years, a lot of companies have built large online marketplaces to connect buyers and sellers. Amazon, eBay, Uber, and AirBnb typically come to mind as the most obvious examples. But there are many more.

Questions From the Crypto Idea Maze

By Kyle Samani

December 20, 2018 | 10 Minute Read

As 2018 comes to a close, we’ve been thinking about some of the big questions that crypto still needs to answer.

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?

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.

What P2P Markets are Better Decentralized?

By Kyle Samani

January 8, 2019 | 10 Minute Read

Over the last 20 years, a lot of companies have built large online marketplaces to connect buyers and sellers. Amazon, eBay, Uber, and AirBnb typically come to mind as the most obvious examples. But there are many more.

Questions From the Crypto Idea Maze

By Kyle Samani

December 20, 2018 | 10 Minute Read

As 2018 comes to a close, we’ve been thinking about some of the big questions that crypto still needs to answer.

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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

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