Sovereign Labs Raises $7.4 Million For Developers To Create New ZK-rollups
Key Points:
- Sovereign Labs raises $7.4 million to help developers construct new ZK-rollups.
- Haun Ventures is leading the seed round. 1kx and Robot Ventures are two other investors.
- Sovereign Labs is now attempting to address this issue by developing a software development kit (SDK) that allows developers to design new ZK rollups by leveraging open-source reusable components
Sovereign Labs raised $7.4 million in a round headed by Haun Ventures to let developers deploy zero-knowledge (ZK) rollups more simply.
According to a corporate announcement, investors in the seed round, which will close in November 2022, include 1kx, Robot Ventures, and Maven 11. Celestia Labs’ head of communications, Ekram Ahmed, serves as a strategic advisor.
A ZK proof is a cryptographic technique that certifies whether a statement is true or incorrect without revealing its contents. ZK rollups use this technology for blockchain scaling, which makes blockchains run cheaper and faster by combining transactions together, verifying them off-chain, and returning a confirmation that they are all legitimate.
According to Preston Evans, co-founder and chief technology officer at Sovereign Labs, implementing ZK rollups can be a time-consuming and challenging procedure for developers.
Sovereign Labs is attempting to address this issue by developing a software development kit (SDK) that allows developers to design new ZK rollups by leveraging open-source reusable components, making it easy to deploy on a number of blockchains.
The SDK is presently in the research and development phase, but it hopes to support a variety of blockchains in the future. It will supply all boilerplate information, allowing developers to concentrate on business logic. Celestia for data availability and Risc Zero for testing are included in the present prototype.
So far, Ozer and Evans have been in charge of developing the SDK. They intend to use the funds from the current campaign to hire more employees and grow the team to roughly seven people.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
Author
News
Sovereign Labs Raises $7.4 Million For Developers To Create New ZK-rollups
Key Points:
- Sovereign Labs raises $7.4 million to help developers construct new ZK-rollups.
- Haun Ventures is leading the seed round. 1kx and Robot Ventures are two other investors.
- Sovereign Labs is now attempting to address this issue by developing a software development kit (SDK) that allows developers to design new ZK rollups by leveraging open-source reusable components
Sovereign Labs raised $7.4 million in a round headed by Haun Ventures to let developers deploy zero-knowledge (ZK) rollups more simply.
According to a corporate announcement, investors in the seed round, which will close in November 2022, include 1kx, Robot Ventures, and Maven 11. Celestia Labs’ head of communications, Ekram Ahmed, serves as a strategic advisor.
A ZK proof is a cryptographic technique that certifies whether a statement is true or incorrect without revealing its contents. ZK rollups use this technology for blockchain scaling, which makes blockchains run cheaper and faster by combining transactions together, verifying them off-chain, and returning a confirmation that they are all legitimate.
According to Preston Evans, co-founder and chief technology officer at Sovereign Labs, implementing ZK rollups can be a time-consuming and challenging procedure for developers.
Sovereign Labs is attempting to address this issue by developing a software development kit (SDK) that allows developers to design new ZK rollups by leveraging open-source reusable components, making it easy to deploy on a number of blockchains.
The SDK is presently in the research and development phase, but it hopes to support a variety of blockchains in the future. It will supply all boilerplate information, allowing developers to concentrate on business logic. Celestia for data availability and Risc Zero for testing are included in the present prototype.
So far, Ozer and Evans have been in charge of developing the SDK. They intend to use the funds from the current campaign to hire more employees and grow the team to roughly seven people.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
Other Posts
Related Posts
Latest
Crypto PAC Fairshake Continues to Boost 2026 Election With Support from a16z
Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says
Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains
Press Release
Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says
EarnBet.io Sets New Benchmark with $2 Billion in Player Winnings and Unmatched Rewards Programs
