Zero-Knowledge Proof Ethereum Startup Raises $2 Million

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.

Matter Labs was officially launched in December 2018 and has received numerous funding from the Ethereum foundation over the course of 2019.

Headlines for the world of Cryptocurrencies – September 22, 2019
  • 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
Headlines for the world of Cryptocurrencies – September 21, 2019
  • 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
Headlines for the world of Cryptocurrencies – September 20, 2019
  • 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

 

 

 

Thanks! You've already liked this
No comments