Brevis closes $7.5M funding round to develop verifiable computing
Verifiable computing project Brevis announced the closing of its seed funding round led by Polychain Capital and Binance Labs.
According to a Nov. 11 announcement, the funding round has also seen the participation of IOSG, Nomad Capital, Bankless Ventures, and Hashkey, as well as a number of angel investors. A Polychain representative said:
"Brevis is pioneering a transformative approach to verifiable off-chain computation, creating unprecedented scalability and functionality for blockchain applications. [...] Brevis stands out with its innovative use of ZK Proofs to bring complex, data-driven computation to smart contracts in a trust-free way. [...] We believe Breviss vision will redefine what's possible for blockchain developers and unlock a new wave of advanced decentralized applications."
Brevis is developing a verifiable computing platform aiming to bring infinite scalability to existing blockchains without fragmenting their state or liquidity. With this protocol in place, decentralized applications (DApps) can offload computation off-chain while holding on to their trustless and verifiable nature at a low cost.
Brevis system also promises low-cost, with its plans to its employment of zero-knowledge proofs to render the computations verifiable. On-chain smart contracts can then verify these proofs, allowing the DApps to use off-chain computation without compromising their security and trustlessness.
Developers of the protocol launched a zero-knowledge coprocessor that allows smart contracts to access and run arbitrary computation on historical on-chain data including transactions, events and states. The platforms software development kit allows quick deployment of data-driven and computation-intensive DApps without the need to understand zero-knowledge cryptography in-depth. Binance Labs investment director Andy Chang said:
The current landscape of smart contracts offers very simple computation capabilities and limited data access. Brevis move to create a new asynchronous architecture expands the capability of blockchains without introducing any additional trust.
Brevis already has a few launch partners including Kwenta, JoJo Exchange and Trusta. Other partners include PancakeSwap, Usual Money, Gamma, Quickswap, Tokemak, Algebra, Thena, 0G, and Hemera all of those projects making use of the new verifiable computation platform.
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Read more: https://cryptodaily.co.uk/2024/11/brevis-closes-75m-funding-round-to-develop-verifiable-computing
Text source: Crypto Daily™
