- = null; The foundation has raised $22 million in a funding round led by Polychain Capital.
- The firm will use the funds to build a zero-knowledge proof marketplace for Ethereum and L2s.
- In addition to improving security and scalability, =nil; A blockchain using Proof of Market would not require centralized intermediaries.
= null; Foundation, The zero-knowledge proof The research and development platform looking to build a proof-of-work marketplace for Ethereum and L2s has secured $22 million in a funding round valued at $220 million.
Polychain Capital led the funding round, with participation from top blockchain-focused venture firms including Blockchain Capital, StarkWare and Mina Protocol. The investment also attracted several angel investors, including Hsu.
A proof-of-market for Ethereum and other public blockchains
Zero; Launched in 2018, the foundation will use the fundraising money to fuel the development of its zero-knowledge (ZK) proof-of-market protocol, according to details shared via a press release on Thursday. According to the company, the funding will be used to build solutions aimed at improving the security and scalability of Ethereum, other L1 blockchains, and L2.
A ProofMarket will help provide industry players with a trustless and seamless protocol for sharing zk-proofs without relying on centralized intermediaries; The Foundation mentioned in the announcement.
,Proof Market is now set to ensure secure data transfer between Ethereum and public protocols, but that’s not the only thing our team is targeting,” Konstantin Lomashuk, co-founder of the =Zero; Foundation, said in a statement obtained by coinjournal, she added:
,As the ecosystem grows, computations become heavier and more complex, thus paving a way for effective and reliable interactions between Ethereum, L2s, and other protocols. Creating a market for the computational power that can prove any information will open up new opportunities for the entire market, combining this with core blockchain principles,
according to zero; The Foundation team already has Proof of State for Solana and Mina in the marketplace, while it should be available on more blockchains soon. Industry players can now use generated proofs to secure data exchange in Ethereum.
But a fully developed proof market would serve as a zk-proof marketplace, allowing further access to proofs as the blockchain provides greater security and scalability.