Moonlighting, a Charlottesville, Virginia-based online marketplace for “individuals and small businesses, enabling communication between those needing a task done and those capable of fulfilling the need,” has moved over 700,000 user accounts to the EOS platform.
Founded in October 2014, Moonlighting has received $6.3 million in total funding which includes a $5 million investment round led by the FinLab EOS VC fund, an investment firm established by Block.one and FinLab AG, a Frankfurt, Germany-based fintech company.
EOS Chosen “Because It’s Scalable”
The additional funding from the latest investment round will reportedly be used to introduce new services and features on the Moonlighting platform, in order to increase its user base. The funds raised will also be used to integrate the virtual marketplace’s infrastructure with the EOS blockchain network.
Commenting on the company’s decision to partner with EOS’s development team, Jeff Tennery, the CEO at Moonlighting, remarked:
We have been exploring blockchain protocols since the end of 2017 and [have] chosen EOSIO [because of] its ability to scale transaction processing, maintain low transaction costs and enable ease of user account management.
“Real Customers, Real Traction, Bona Fide Use Case”
Meanwhile, Paul Grotowski, the COO at EOS VC, said: “We believe that Moonlighting contains the three key traits you look for in a decentralized application: real customers, real traction and a bona fide use case for blockchain technology.”
Explaining why his firm chose to partner with EOS, as it begins to upgrade its platform to meet Web 3.0 standards, Jeff Tennery, the founder and CEO at Moonlighting, stated:
We decided that we want our users to be able to port their profile to any platform and provide them a simple way to use their Moonlighting profile wherever they chose to use it.
Tennery added: “The gig economy is so fragmented, and our plan is to let freelancers control the use of their profile and provide a single sign-on, aggregated gateway.”
Notably, the developers at Moonlighting will not be transferring all the data from their existing platform to the EOS blockchain. Instead, Moonlighting’s platform data will be secured by using cryptographic hashes which can be decrypted by accessing information from the marketplace’s centralized database system.
According to Tennery: “The hashes on the blockchain provides audit-ability and validity to our freelancer profiles maintained off-chain.”