As a seasoned analyst with over two decades of experience in tech and finance, I find the recent $6 million seed round raised by Layer, a blockchain infrastructure startup, particularly intriguing. Having witnessed the evolution of distributed ledger technology and its potential to disrupt traditional systems, I am excited about Layer’s ambition to complete the “full narrative arc of decentralized architecture.
Development tool company, Layer, secures a $6 million investment to construct resources for developers building comprehensive, decentralized apps on the Ethereum network.
1kx, along with Fabric Ventures, Arrington Capital, and Stake Capital Group, have invested a total of $6 million in the initial funding round for Layer, a startup specializing in blockchain infrastructure.
As a crypto investor, I recently learned that a firm has announced its intentions to utilize the funds raised to enhance Ethereum’s functionalities. They aim to do this by developing tools for developers that enable the creation of complete decentralized applications using Web Assembly directly on the Ethereum network.
Established by experienced professionals in the blockchain field, Sam Cassatt, Jake Hartnell, and Ethan Frey, Layer’s platform is anticipated to empower developers to construct more intricate decentralized applications that utilize off-chain computation. This addresses the constraints of existing smart contracts. The Layer SDK will facilitate the integration of blockchain security with off-chain services such as AI agents and decentralized messaging servers.
Our goal was to fully develop the storyline of a decentralized system structure, providing global users with the essential tools for creating any application, regardless of its performance needs, under a trust-reduced framework.
Sam Cassatt, co-founder of Layer
Layer gains angel backing to develop full-stack Ethereum SDK
As a researcher, I’m thrilled to share that our latest funding round secured investments from angel investors such as Sreeram Kannan of EigenLayer, Mike Silagadze of Ether.fi, and the esteemed Paul Taylor, formerly of BlackRock. Our team is excited about our upcoming offering, dubbed “Layer SDK.” This innovative tool will empower developers to construct novel layers atop Ethereum, enabling them to develop comprehensive blockchain applications encompassing smart contracts, consensus mechanisms, user interfaces, and trustworthy off-chain services.
The financing arrives amidst escalating worries about concealed weaknesses in smart contracts, as malicious users are increasingly taking advantage of them to deceive victims. Recently, experts from blockchain firm Trugard Labs discovered more than 34,000 potentially dangerous vulnerabilities in smart contracts launched on Base during August. Additionally, adjustments to hidden balances and manipulations in minting were spotted on Ethereum and BNB Chain (previously known as Binance Smart Chain, or BSC), although these instances were less frequent.
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2024-10-07 17:56