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Porta Network was a London-based company that focused on developing blockchain products for the general public so everyone would have access to understanding how to use the blockchain. It was founded in 2020 by Shane Benjamin and had an additional four people on the team. Porta Network raised $1,500,000 during a pre-seed funding round in April 2021 from investors such as Block Dream Fund and X21 Digital. In March 2022, the company abruptly shut down, citing a lack of funds due to a robbery of company funds that allegedly took place in November 2021.
Porta Network was a substrate-based, proof-of-stake (POS) blockchain network.The main product launched was the relay chain testnet. It allowed users to get set up as validators. After becoming validators, users could earn $KIAN, the cryptocurrency of Porta Network, as rewards. The company stated on its website that it had goals to release other blockchain-related products, such as a cryptowallet and a smart contract creation tool. Those products were never released due to the closure of the company.
Porta Network Introduction
