Nubit advances blockchain scalability with $12m complete funding, integrating main L2 frameworks and supporting multi-chain ecosystems, whereas pioneering an progressive information availability answer to unlock limitless purposes in AI, SocialFi, and GameFi.
This newest spherical brings Nubit’s complete funding to $12m, advancing its mission to develop essentially the most safe and scaleable information availability (DA) layer for multi-chain ecosystems
Nubit has efficiently closed an $8m seed funding spherical, led by Polychain Capital, with participation from Nomad Capital, Spartan Group, L2IV, Large Mind Holdings, GCR, Protagonist, Gate Ventures, Animoca Ventures, Masks Community, and others.
This newest spherical brings Nubit’s complete funding to $12m, advancing its mission to develop essentially the most safe and scaleable information availability (DA) layer for multi-chain ecosystems, supporting limitless purposes together with synthetic intelligence (AI), SocialFi, and GameFi.
“I’ve identified and collaborated with Professor Yu Feng and the Nubit staff for a very long time. Their historic achievements in Zero-Information (ZK), safety, and blockchain give me confidence that their progressive DA answer can unlock quite a few software potentialities throughout varied sectors,” stated Luke Pearson, senior analysis cryptographer at Polychain Capital.
Based by Feng, a pc science professor at College of California, Santa Barbara, Nubit attracts on a decade of analysis to advance blockchain scalability. Nubit leverages Bitcoin’s financial safety and optimises key metrics equivalent to fraud detection strategies, attestation safety, and accessibility with ZK know-how.
This permits it to make sure unparalleled belief and reliability, whereas attaining scalability via a high-performance consensus algorithm and progressive information constructions just like the Kate-Zaverucha-Goldberg (KZG)-based Namespaced Merkle Tree.
Because the crypto panorama evolves, enabling limitless improvements with essentially the most safe and scaleable DA layer is essential subsequent step. Bitcoin’s block house is most well-liked by customers attributable to its unparalleled safety, nonetheless, restricted house and excessive prices makes it an impractical answer.
Nubit addresses this problem by leveraging Bitcoin’s financial safety to supply an progressive DA layer that ensures each safety and scalability. It brings Bitcoin-level safety to varied purposes and infrastructures, successfully bridging the hole between Bitcoin-native options and the broader multi-chain ecosystem.
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Debuting as a frontrunner in Bitcoin Season 2, Nubit has built-in main gamers equivalent to Babylon, BounceBit, Unisat, and Merlin Chain.
In April 2024, Nubit launched its Pre-Alpha Testnet, participating 155,115 customers, deploying 5294 modular providers, and processing 561,862 transactions
Moreover, to handle the insecure execution layer within the Bitcoin ecosystem, Nubit is dedicated to creating a programmable, modular, and trustless execution layer for meta-protocols like BRC-20 and Runes. The tutorial paper “Stateless and Verifiable Execution Layer for Meta-Protocols on Bitcoin” lays the muse for brand spanking new potentialities within the Bitcoin ecosystem.
Past the Bitcoin ecosystem, Nubit not too long ago prolonged its help to all main L2 frameworks, together with Polygon Chain Growth Equipment (CDK), OP Stack, Arbitrum Orbit, and Scroll, making it a universally relevant DA answer. As Nubit expands, its technique now features a broader scope, specializing in unlocking new potentialities for AI and Machine Studying, in addition to on-chain gaming throughout multi-chain ecosystems.
In April 2024, Nubit launched its Pre-Alpha Testnet, participating 155,115 customers, deploying 5294 modular providers, and processing 561,862 transactions. The staff will launch the Alpha Testnet in June, the ultimate section earlier than the mainnet launch later in 2024.
