BlockDAG Launches Layer-1 Network with $200 Million in Presale Funding

According to information shared with us, BlockDAG has raised nearly $200 million in its presale period, entering the cryptocurrency market as Bitcoin trades around $100,000. The new blockchain network offers both mining capabilities and smart contract functionality.

The platform's mining system does not require ASIC hardware, which is typically used in Bitcoin mining. During the presale phase, the company has sold $6 million worth of specialized crypto miner equipment. This approach differs from Bitcoin's current mining structure, which is dominated by large-scale mining operations.

The network uses a hybrid consensus mechanism that combines blockchain technology with Directed Acyclic Graphs (DAGs). According to the project documentation, this architecture aims to process transactions faster and handle higher volumes than traditional blockchain networks while maintaining lower transaction fees.

The platform includes smart contract capabilities for developing decentralized applications, similar to existing networks like Ethereum and Solana. BlockDAG has formed a partnership with Inter Milan as part of its development plans. The cryptocurrency market in 2025 has seen increased activity, with Solana experiencing growth partially attributed to memecoin trading on pump.fun.

The platform enters the market as institutional investors and governments show increased interest in cryptocurrency technology. For example, Abu Dhabi's sovereign wealth fund Mubadala recently invested $437 million in BlackRock's spot Bitcoin ETF, while the total U.S. spot Bitcoin ETF market now exceeds $100 billion in net assets. This shift represents a change from the early 2010s, when cryptocurrency participation typically required extensive technical knowledge.

The current cryptocurrency market includes new participants who seek to trade and mine without extensive blockchain expertise. BlockDAG's network operates alongside established platforms, offering an additional option for cryptocurrency mining and smart contract deployment.