QED Protocol, a Hong Kong-based zk-native execution layer empowering the Web3 ecosystem rising on Bitcoin, raised $6M in funding.
The spherical was led by Blockchain Capital.
The corporate intends to make use of the funds to broaden operations and its growth efforts.
Based by Carter Feldman, QED is Bitcoin’s native execution layer, designed to handle the challenges of Web3 growth. Its platform is constructed for builders and customers alike, supporting purposes from DeFi to NFTs and past. Moreover, with its horizontally scalable structure, it sidesteps completely the standard tradeoffs with safety and scalability by utilizing its breakthrough structure that makes use of fast-recursive zero-knowledge proofs and a PARTH state mannequin which mix to allow hyperscalable Web3 purposes equivalent to orderbook exchanges, in addition to Web2-scale purposes and video games.
The corporate has raised greater than $10M, securing earlier this yr a pre-seed funding spherical of $3.25M that was led by Arrington Capital and included different notable traders equivalent to Starkware, Draper Dragon, Blockchain Builders Fund, UTXO, Lbank Labs, Paper Ventures, Valhalla Capital, Edessa Capital and Anagram Ltd.
FinSMEs
04/07/2024
