Aligned Layer Successfully Raised $20M in Series A Funding Round Led by Hack VC

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As someone who closely follows the blockchain industry, I’m thrilled to see Aligned Layer’s successful Series A funding round of $20 million. With Ethereum being the leading web3 ecosystem and its TVL already bridged to other smart contract-enabled chains, it’s crucial to invest in infrastructure that enables Ethereum to become more scalable.

As an observer, I’ve learned that Aligned Layer, the Ethereum (ETH) network’s universal verification layer through EigenLayer, recently concluded its Series A funding round with a successful raise of $20 million. This financing round was spearheaded by Hack VC, with significant contributions from DAO5, L2Iterative, FinalityCap, Symbolic VC, Theta Capital, J17, EVG Ventures, Decima fund, and Protagonist, among other esteemed investors.

The strategic resources will be allocated to strengthen Ethereum’s foundation, making it more capable of handling larger transactions and becoming a scalable blockchain. Additionally, Ethereum Network is the front-runner in web3 infrastructure with a significant portion of its Total Value Locked (TVL) already linked to and from other blockchains that support smart contracts, via Ethereum Virtual Machine (EVM).

“Reducing obstacles and simplifying the process for newcomers, shortening the proof period, and cutting down verification expenses on the chain can lead to unmatched discovery and creativity in this field, according to Aligned Layer.”

The Aligned Layer team has been experimenting with Cosmos SDK on a basic testnet. Their ultimate goal is to broaden their offerings to other cost-effective blockchain platforms, including those utilizing affordable validity and zero-knowledge (ZK) proofs.

The Aligned Layer team, having successfully secured additional funds, plans to transition to EigenLayer’s testnet soon. In the not too distant future, they will make available a Software Development Kit (SDK), designed for web3 developers, to help them confirm proof outcomes using any smart contract.

Aligned Layer and the Market Picture

The verification software at Aligned Layer is developed with widely-used programming languages for smart contracts, such as Rust and Go. Furthermore, the business intends to unveil upcoming strategic partnerships and has already attracted support from angel investors in pursuit of its goals.

🟩 A Fully Aligned Round: $20M Series A Round🟩

Hack Ventures, headed by @hack_vc, has spearheaded a successful $20M fundraising round for Aligned Layer, with contributions from esteemed investors including @daofive, @l2iterative, @NomadCapital_io, @FinalityCap, @symbolicvc, @theta_bv, @J17Crypto, @EVG_Ventures, @decimafund, GM Ventures, and more.

— Aligned Layer (@alignedlayer) April 25, 2024

As an observer, I’ve noticed that the Aligned Layer team has successfully secured essential funds during this period of heightened mainstream acceptance for Web3 projects. The financial sector’s transformation into a decentralized future is gaining momentum, with blockchain technology poised to tokenize a vast array of global assets. Government bonds, real estate, stocks, and equity indexes are just some examples of the numerous assets on the verge of being transformed into digital tokens.

Previously, Coinspeaker reported that BlackRock Inc., a prominent figure in the world of asset management with the ticker symbol NYSE: BLK, teamed up with Securitize to introduce the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) on Ethereum’s network.

Currently, there are several entities involved with BUIDL, such as BitGo, Coinbase Global Inc (NASDAQ: COIN), and Fireblocks, to name a few.

As an observer, I can’t help but emphasize the significance of creating scalable web3 protocols on Ethereum. The competition among blockchains, such as Solana (SOL) and Toncoin (TON), is intensifying, and Ethereum’s ability to handle larger transaction volumes will be crucial for its continued growth.

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2024-04-25 22:58