Gevulot Raises $6 Million in Seed Funding to Launch Zero-Knowledge Proof Blockchain

Gevulot secures funding from Variant and other investors to develop its Layer 1 blockchain, enabling scalable applications through zero-knowledge proofs.

Gevulot, a blockchain platform focused on zero-knowledge proofs, has successfully raised $6 million in a seed funding round. Led by Variant and featuring participation from RockawayX, Volt Capital, and Staking Facilities, as well as notable individual backers, Gevulot plans to utilize the capital to launch its Layer 1 blockchain. This blockchain will enable developers to leverage zero-knowledge proofs and delegate computing tasks, opening up new possibilities for scalable applications. ZK proofs have gained traction in recent years as they offer efficient data verification, contributing to the scalability of blockchain applications.

Gevulot’s Ambitious Plans:

Gevulot’s developer-focused network set to revolutionize blockchain development.

Gevulot is preparing to launch its developer-focused network, known as a devnet, in collaboration with staking validator firms such as P2P.org, Supranational, Staking Facilities, and RockawayX Infrastructure. This devnet will serve as a restricted test network, providing developers with a platform to experiment and build applications on Gevulot’s Layer 1 blockchain.

Gevulot’s Unique Architecture:

Gevulot’s blockchain architecture emphasizes the integration of proofs into blocks.

Unlike traditional Layer 1 blockchains that rely on smart contract state transitions, Gevulot’s blockchain primarily consists of proofs. Deployed programs on Gevulot execute to generate proofs, which are then verified by the network. Once verified, these proofs are integrated into blocks. This approach simplifies the deployment and interaction process for developers, making it akin to deploying or interacting with a smart contract.

The Potential of Zero-Knowledge Proofs:

Zero-knowledge proofs offer scalability and data privacy for blockchain applications.

Zero-knowledge proofs have emerged as a powerful tool for enhancing the scalability and privacy of blockchain applications. By efficiently verifying data without revealing the underlying information, ZK proofs enable blockchain networks to process transactions and execute computations more quickly. This scalability is crucial for the widespread adoption of blockchain technology, as it addresses the limitations of traditional systems.

Investor Perspectives:

Variant and other investors express confidence in Gevulot’s potential.

Variant, the lead investor in Gevulot’s seed funding round, expressed optimism about Gevulot’s potential. The firm sees Gevulot as a layer-one general-purpose proof network that allows anyone to deploy a prover or verifier on-chain. This simplicity and accessibility make Gevulot an attractive option for developers seeking to harness the power of zero-knowledge proofs.

Conclusion:

Gevulot’s successful seed funding round marks a significant milestone in the development of its zero-knowledge proof blockchain. With the allocated capital, Gevulot aims to launch its Layer 1 blockchain, offering developers a platform to build scalable applications using zero-knowledge proofs. As the adoption of blockchain technology continues to grow, solutions like Gevulot’s have the potential to revolutionize the industry by addressing scalability and privacy concerns. The future looks promising for Gevulot as it strives to make blockchain technology more accessible and efficient for developers worldwide.