Startup Aligned Layer, known for creating a “unifying verification system for Ethereum,” successfully raised $2.6 million in their seed funding round. This investment was spearheaded by Lemniscap, an experienced player in the cryptocurrency and blockchain industry.
1. We’re excited to announce that we’ve raised $2.6M in our Seed Round, led by @Lemniscap , to enable developers to access affordable and fast proof verification for all proof systems.
Aligned Layer helps Ethereum become a better, faster and cheaper settlement layer for validity…
— Aligned Layer (@alignedlayer) April 14, 2024
Aligned Layer’s unique method focuses on creating a decentralized verification layer for Ethereum using ZK Proofs, which is supported by Eigen Layer’s restaking feature. This empowers Ethereum stakers to shift their ETH and Liquid Staking Tokens to bolster the protocol’s security.
Based on the announcement, Aligned Layer intends to use the funds to expedite their mainnet launch scheduled for Q2 2024 and broaden their operations. As an infrastructure supplier, their objective is to reduce expenses and enhance performance for developers creating Ethereum applications, including layer-2 networks.
Notable investors such as Bankless Ventures, Paper Ventures, and industry leaders showed their backing in the seed round.
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2024-04-15 04:04