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.
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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.
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