Gevulot Raises $6 Million in Seed Funding for Zero-Knowledge Proof Blockchain
Gevulot, a blockchain platform focused on zero-knowledge proofs, has secured $6 million in a seed funding round led by Variant. The funding will be used to launch Gevulot’s Layer 1 blockchain and expand its network of hardware operators.
Gevulot, a blockchain company specializing in zero-knowledge proofs, has successfully raised $6 million in a seed funding round. The funding will be used to support the rollout of Gevulot’s Layer 1 blockchain, which aims to provide developers with the ability to leverage zero-knowledge proofs and delegate computing tasks to a network of advanced hardware operators. This funding round was led by Variant and included participation from RockawayX, Volt Capital, Staking Facilities, as well as notable individual backers in the blockchain space.
The Power of Zero-Knowledge Proofs:
Zero-knowledge proofs have gained significant traction in recent years due to their ability to offer scalability to blockchain applications through efficient data verification. By utilizing zero-knowledge proofs, Gevulot aims to enable developers to create scalable applications on its blockchain network.
Gevulot’s Developer-Focused Network:
Gevulot is preparing to launch its developer-focused network, known as a devnet, which serves as a restricted test network. This devnet is being developed in collaboration with staking validator firms such as P2P.org, Supranational, Staking Facilities, and RockawayX Infrastructure. The devnet will provide developers with a platform to test and experiment with the functionalities of Gevulot’s Layer 1 blockchain.
The Architecture of Gevulot:
On Gevulot’s blockchain, deployed programs will execute to generate proofs, which are then verified by the network. Once verified, these proofs are integrated into blocks. Unlike traditional Layer 1 blockchains that primarily consist of smart contract state transitions, Gevulot’s blocks are primarily composed of proofs.
According to Variant, the lead investor in the seed round, Gevulot is designed as a layer-one general-purpose proof network that allows anyone to deploy a prover or a verifier on-chain. Deploying and interacting with these programs on Gevulot is relatively simple and low-lift, similar to deploying or interacting with a smart contract.
Conclusion:
Gevulot’s successful seed funding round of $6 million will enable the company to further develop its Layer 1 blockchain, which focuses on zero-knowledge proofs. With the ability to delegate computing tasks and leverage efficient data verification, Gevulot aims to provide developers with new opportunities for scalable applications. As the company prepares to launch its devnet and expand its network of hardware operators, the future looks promising for Gevulot and the adoption of zero-knowledge proofs in the blockchain industry.