Brevis Secures $7.5M in Seed Funding to Revolutionize Future of Verifiable Computing
Brevis has announced that it has raised $7.5 million in seed funding, with Polychain Capital and Binance Labs leading the effort. IOSG, Nomad Capital, Bankless Ventures, Hashkey, and other prominent angel investors have also contributed.
Brevis is a smart verifiable computing platform that gives current blockchains infinite scalability without state fragmentation or liquidity. Blockchain applications may now transfer costly and sophisticated computations that were previously unable to complete on-chain to a minimal-cost off-chain network where a ZK Proof of the computation result is produced thanks to Brevis. The applications may then use the computing result with the same degree of security as direct on-chain computation, all totally trust-free, and at a fraction of the cost, thanks to the verification of this ZK Proof in on-chain smart contracts!
As our initial product, Brevis introduced a ZK Coprocessor that enables smart contracts to access and perform arbitrary computation on historical on-chain data, including states, transactions, and events, in a trustless manner. Without having to comprehend the underlying mathematical and cryptographic complexities, developers can quickly create robust data-driven and computation-intensive dApps using Breviss programmable SDK.
Brevis opens up new use cases and features like autonomous DeFi parameter tuning, trust-free active liquidity management, user engagement and retention programs, decentralized blockspace marketplaces, intent automation, continuous protocol incentive distribution, trust-free active liquidity management, and much more.
Brevis also reveals its launch partners, who are leveraging the Brevis SDK to create and introduce innovative new features and solutions. Some of these partners, including Kwenta, JoJo Exchange, and Trusta, have already introduced Brevis-powered features on the mainnet. Brevis-powered next-generation product features are being built by several other popular protocols and dApps, including PancakeSwap, Usual Money, Gamma, Quickswap, Tokemak, Algebra, Thena, 0G, and Hemera.
Additionally, Brevis introduced one of the first EigenLayer AVSes to support a unique propose-challenge coprocessing model, which significantly lowers ZK computation costs at the expense of a little longer delay.
Brevis is pioneering a transformative approach to verifiable off-chain computation, creating unprecedented scalability and functionality for blockchain applications. At Polychain, were committed to supporting projects that push the limits of blockchain infrastructure, and Brevis stands out with its innovative use of ZK Proofs to bring complex, data-driven computation to smart contracts in a trust-free way, said Olaf Carlson-Wee from Polychain, We believe Breviss vision will redefine whats possible for blockchain developers and unlock a new wave of advanced decentralized applications.
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, said Andy Chang, Investment Director, Binance Labs. Binance Labs champions early-stage projects that are building innovative solutions to onboard the next wave of users into Web3, and we are excited to support Brevis efforts in revolutionizing verifiable computing and unlocking a wide array of possibilities.
We believe that Web3 will evolve to a glue-and-coprocessor architecture similar to how modern Web2 services are able to handle billions of users. said Michael Tung, cofounder of Brevis, In the future, blockchains will act as the glue and offload the bulk of computation to Brevis, a platform of off-chain coprocessors. Though the computation happens off-chain, Breviss advanced ZK computing stack ensures that all results can be trustlessly verified and utilized back on-chain. Without causing liquidity or state fragmentation, Brevis will enable so many new dApps and a new level of user experiences that were never possible before.
Brevis intends to use this additional capital to grow its R&D team in order to create and integrate other critical off-chain verifiable computing components, improve its decentralized prover network, and hasten the adoption of the current production-ready ZK Data Coprocessor.
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
