Heuristically Enhanced Asynchronous Transactions (HEAT), a self-appointed blockchain 3.0 platform, has raised 1632 BTCs (over $900k at current exchange rate) worth of various cryptocurrencies in the crowdfunding drive which started on July 11 and closed midnight August 9, CoinReport reported.

According to the ICO page of HEAT’s website, the breakup of the amount raised is as follows: BTC: 608.45; ETH: 16,124.99; FIMK: 255,621,021; NXT: 6,220,425.

Developed by Finnish startup Heat Ledger Ltd, HEAT uses a new P2P incentive mechanism called Proof of Presence, the technology being based on splitting blockchain to small files and distributed via standard nodes and torrents. The system has achieved transaction processing boost rates of up to 50,000 transactions per second, close to the maximum throughput of VISANet.

The Proof of Presence mechanism coupled with fast transaction rates will facilitate corporate adoption of Heat Ledger’s financial technology software and asset-2-asset exchange. This will enable custom asset high frequency trading and blockchain crowdfunding by fiat currencies via joint venture partnerships with licensed money transmission operators with the EU.

“It’s our goal in Heat Ledger Ltd to finally bring blockchain tech down to earth, for mass scale usage with all sorts of trading applications on both the public HEAT blockchain and custom corporate solutions,” said Heat Ledger project leader Svante Lehtinen in an email to CoinReport. “The successful funding round has given us a perfect base to pursue that goal and get the required technical and human resources quickly on board”.

In November, free company stock options will be granted to HEAT token investors, with the options entitling holders for a discounted price for company shares to be released in a public offering of the company stock in late 2016.

“Heat Ledger Ltd will arrange public share offering of stock equity in late 2016. New company shares will be released to constitute 20% - 25% of total company equity, in order to raise between 500k to 1.5M EUR funding to further develop company operations. HEAT token holders will receive options that entitle for 50% minimum rebate from IPO share price”, the ICO page reads.