Jamie Crawley is a CoinDesk news reporter based in London.
Ethereum verification protocol Aligned Layer has raised a $20 million Series A to enable faster and cheaper zero-knowledge proofs on the world's second-biggest blockchain.
The fundraiser was led by Hack VC and included contributions from DAO5, L2Iterative, NomadCapital_io, FinalityCap, Symbolic VC and Theta Capital. ZK proofs refer to protocols in which one party can verify the truth of a statement to the other party without conveying any further information about it. Aligned Layer’s aim is to help engineers avoid bottlenecks in proving their code while making it cheaper to build applications atop Ethereum that use ZK proofs,
“We verify proofs cheaply and quickly and post their results in Ethereum and any DA layer that the developer wants," Aligned Layer said.The project’s developer, Eigen Labs, has also been the recipient of substantial investment, raising $100 million from crypto VC kingpin Andreessen Horowitz in February.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto Exchange OKX's Polygon-Powered Layer 2, 'X Layer,' Hits Public MainnetMargaux Nijkerk reports on the Ethereum protocol and L2s. A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics. She holds a small amount of ETH and other altcoins.
Read more »
Introducing Anomaly: AI-Powered Layer 3 for gaming powered by Arbitrum Orbit, built on Gelato RaaSAnomaly, announces the launch of the first AI-powered zero-gas Layer-3 gaming platform leveraging a play-to-airdrop mechanism targeting Telegram's 900 million daily active users
Read more »
Introducing Anomaly: AI-Powered Layer 3 for Gaming powered by Arbitrum Orbit, built on Gelato RaaSIntroducing Anomaly: AI-Powered Layer 3 for Gaming powered by Arbitrum Orbit, built on Gelato RaaS
Read more »
Introducing Anomaly: AI-Powered Layer 3 for Gaming powered by Arbitrum Orbit, built on Gelato RaaSCrypto Blog
Read more »
Aligned Layer Raises $2.6M Seed Round for Decentralized ZK Proof Verification on EthereumAligned Layer, powered by Eigen Layer, has closed a $2.6 million seed round led by Lemniscap. The funding will be used for team expansion and accelerating the mainnet launch in Q2 2024. Aligned Layer provides affordable Zero-Knowledge Proof verification for Ethereum, enabling developers to build scalable and interoperable applications.
Read more »
Protocol Village: Saga, Layer-1 Chain for Launching Layer 1s, Is LaunchingBradley Keoun is the managing editor of CoinDesk's Tech & Protocols team. He owns less than $1,000 each of several cryptocurrencies.
Read more »