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Second State raises $3 million to grow its enterprise smart contract platform



Second State, a developer of an open-source blockchain smart contract platform for enterprises, announced it has raised $3 million in Series A funding from a number of top venture capitalists and angel investors, led by Susquehanna International Group (SIG).

The Second State BUIDL tool, a browser-based IDE, allows developers to quickly write, build and deploy all elements of a decentralized application (DApp), including smart contracts, formal rules, web3 scripts, ElasticSearch scripts, HTML, CSS, and Javascript.

BUIDL works with all Second State blockchains, as well as Ethereum-compatible blockchains.

The Second State blockchain is fully compatible with the Ethereum platform, but with its own enterprise-friendly virtual machine and programming language extension.

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Notable examples of such enterprise features include:

  • Formal rules engine and rules language in smart contracts
  • Integrated smart contract search engine services to complement web3
  • A high performance and fast finality underlying blockchain
  • One second confirmation time
  • Gas free operations

With comprehensive DevOps and container tools, Second State enables customers to create a new blockchain simply and easily. Each newly-created Second State blockchain is ready for smart contract search, data services, and BUIDL.

An enterprise-ready platform

Second State engages the open-source developer community to develop and promote the software stack, and then curate turn-key solutions for specific industries. Its subscription-based service offerings include software support and updates, production deployment and management, training and more.

“We’re providing high-quality, turn-key blockchain and smart contract solutions for businesses. Not only are Second State blockchains programmable by its enterprise customers, optimized for business use cases, and completely open-source, they are supported by commercial service agreements as well.”
– Dr. Michael Yuan, founder, and CEO of Second State

Dr. Yuan, who authored Building Blockchain Applications (published by Addison-Wesley), brings extensive experience developing and commercializing open source and decentralized software to the Second State enterprise.


Second State’s contribution to the open-source community already has been acknowledged by Ethereum developers, crediting Second State’s own Ming Chuan Lin for discovering and fixing an important bug on the Ethereum mainnet.

Moving forward, Second State aims to make major contributions to the new WebAssembly-based Ethereum 2.0 virtual machine.

Source: Second State

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