As a seasoned crypto investor with a keen eye for groundbreaking technologies and scalable solutions, I find the recent funding of Brevis, a smart verifiable computing platform, particularly intriguing. Having witnessed the limitations of current blockchain infrastructure firsthand, I appreciate the potential that Brevis brings to the table.
As a diligent researcher, I’m thrilled to announce that the innovative platform, Brevis, has secured $7.5 million in funding from venture capitalists. This financial backing will propel our efforts to enhance off-chain verifiable computing within the extensive blockchain ecosystem.
On November 11th, Brevis announced that they had successfully raised $7.5 million in their seed funding round, which was primarily spearheaded by Polychain Capital and Binance Labs.
Brevis, which enables blockchains to scale without facing liquidity or state fragmentation, plans to use the new funding to expand its research and development team. The R&D team aims to build and integrate essential components in off-chain verifiable computing and improve the platform’s decentralized prover network.
As per the information provided in the blog article, the aim is to speed up the integration of the platform’s zero-knowledge data processor.
Using the ZK Coprocessor, smart contracts can retrieve and work with on-chain data such as transactions and states by leveraging Brevis’s customizable software development toolkit for programming purposes.
With Brevis, developers can effortlessly construct data-centric, decentralized apps that boost scalability on networks such as Ethereum (ETH), all while avoiding the intricate mathematics and cryptography underneath.
Using Brevis, decentralized applications (dApps) are able to shift intricate and expensive calculations to an external, off-chain network. This results in reduced costs. The network produces a Zero-Knowledge proof of the computations, which is subsequently validated on-chain at a minimal cost.
At Polychain, we’re dedicated to backing projects that challenge the boundaries of blockchain technology. Brevis, in particular, catches our eye due to its groundbreaking application of Zero-Knowledge Proofs, enabling intricate, data-dependent computations within smart contracts without the need for trust.
Olaf Carlson-Wee from Polychain.
Various platforms such as Kwenta, PancakeSwap, Frax, Celer, Jojo Exchange, and Mask Network are either currently using or contemplating the use of features powered by Brevis.
Besides Polychain Capital and Binance Labs, venture capital firms such as IOSG, Nomad Capital, HashKey, and Bankless Ventures have also invested in Brevis. Furthermore, the funding round attracted a number of individual angel investors as well.
Read More
Sorry. No data so far.
2024-11-11 22:20