As a seasoned crypto investor with over three decades of technology experience under my belt, the recent $1.7 million pre-seed funding announcement for KRNL Labs has piqued my interest. Having started at Microsoft as Technical Lead for OS and Programming Languages in 1989, I’ve seen the tech landscape evolve dramatically over the years.
London, UK, October 29th, 2024, Chainwire
The financing will aid in expanding the network within KRNL Labs, as they strive to develop a decentralized computing system’s node package manager.
KRNL Labs is thrilled to reveal a $1.7 million preliminary funding phase aimed at constructing the most expansive, cross-chain software registry in Web3. This round of funding was supported by influential investors like TRGC, Superscrypt, Ryze Labs, Builder Capital, Blockchain Founders Fund, WAGMi Ventures, STIX, YAP Capital, and a number of strategic angel investors.
At KRNL Labs, we’re pioneering a novel software management system tailored for Web3 by advancing technology at the core RPC node level to facilitate cross-chain communication. Essentially, our innovations allow libraries to be shared across various blockchain networks, revolutionizing the way tasks are executed.
In simpler terms, KRNL functions similarly to the popular Node Package Manager (npm) for managing JavaScript packages. It helps developers effortlessly install, distribute, and manage dependencies within their projects by dealing with libraries referred to as kernels, which act as independent execution units. The KRNL protocol facilitates asynchronous compatibility across various execution environments, paving the way for a novel breed of cross-chain applications designed using a component-based architecture. This method empowers developers to create dApps that can tap into multiple blockchains simultaneously, boosting their efficiency and scalability.
Tahir Mahmood, one of the founders at KRNL Labs, explained that “Execution and splitting (sharding) can be approached in various ways to let multiple execution segments handle a single transaction. We refer to these segments as ‘kernels,’ which are community-created, open for anyone, have monetization potential, and can be combined with other components.
To guarantee safe and streamlined operation across multiple networks, KRNL uses an advanced version of the Go Ethereum (Geth) client combined with a custom GraphQL runtime. This setup enables dApps to delegate execution duties to optimized networks or even traditional Web2 infrastructures. This innovative approach effectively tackles critical issues such as scalability, compatibility, and cost-effectiveness.
According to Etièˆnne vantKruys, Managing Partner of TRGC, KRNL Labs stands alone in its category. By reinventing how cross-chain interactions and operations are managed, they are constructing the initial modular, interchangeable execution layer. They are addressing one of the most significant hurdles in blockchain technology today.
KRNL intends to offer adapters compatible with all significant Ethereum Virtual Machine (EVM) platforms, along with an OpenAPI integration for Web2 applications. The aim is to extend support to numerous non-EVM networks by 2025. Additionally, multiple execution environments are being developed before the mainnet launch, enabling decentralized apps to utilize functionality from these environments natively on Ethereum.
Last week, KRNL Labs revealed their exclusive, preliminary test network. They granted early access to this network to select participants.
Encode London Hackathon.
About KRNL Labs:
Established in 2022, KRNL Labs was conceived by Tahir Mahmood and Asim Ahmad to tackle the issue of fragmentation within Web3 and improve the integration process of existing solutions. The duo, Tahir and Asim, delved deep into research and development, creating a groundbreaking node-level solution to overcome this challenge. Tahir Mahmood, a tech veteran, began his career at Microsoft in 1989 as the Technical Lead for OS and Programming Languages. Throughout his illustrious career, he has been credited with over 40 patents and boasts more than four decades of experience in technology. On the other hand, Asim Ahmad has been involved with Web3 since 2016. He co-founded the blockchain venture capital firm Eterna Capital and previously worked at BlackRock.
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2024-10-29 16:54