A blockchain research and development startup have recently revealed that it was able to raise around $2 million USD in a seed funding round which was led by Placeholder VC to develop scaling solution for Ethereum.
Matter Labs co-founder Alex Gluchowski said that their product will be much scalable than what Ethereum has today without sacrificing the decentralization or security.
The new scaling solutions from Matter Lab will be based on a novel form of cryptography known as zero-knowledge proofs that leverage mathematical formulas to work their magic and could potentially significantly increase the scalability of the Ethereum blockchain and lower cost of transactions.
A number of other venture capitalist firms joined Placeholder in the funding round one of such is Hashed with its CEO and managing partner Simon Seojon Kim stating that they believe that on-chain data availability and scaling solution of Matter labs will be an integral piece in accelerating the growth of ethereum’s decentralized finance space.
Cisco And SingularityNet Partners For Decentralized Artificial Intelligence
Premier Swiss Stock Exchange Launches Prototype For Digital Assets Exchange
OKEx To Launch Tether Margin Futures In October
Facebook Acquires ChatBot Maker SeviceFriend
Lithuanian Retail Giant To Sell Bitcoin
- One Of South Korean Biggest Conglomerates To Use Blockchain For Music Copyright
- Analyst Predicts Launch Of Bakkt Will Improve Trust Of Cryptos
- Bank Of America Is The Latest Member Of R3’s Marco Polo Blockchain Network
- Major Crypto Listing On Coinbase Soon
- Hong Kong Billionaire Enters Crypto Space
- Zuckerberg In Capitol Hill To Win Over U.S. Policymakers
- North Korea To Create Its Own Cryptocurrency
Abra Now Allows Users To Buy Bitcoin In 7-Eleven Outlets
1,000 New Miners From Publicly-Listed Mining Firm
Arab Bank Switzerland Now Offers Crypto Custody And Brokerage Services