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EigenLayer-Powered Aligned Layer Raises $20M to Make ZK Proofs Faster, Cheaper on Ethereum
The fundraise was led by Hack VC and included contributions from DAO5, L2Iterative, NomadCapital_io, FinalityCap, Symbolic VC and Theta Capital
Updated Apr 25, 2024, 5:33 p.m. Published Apr 25, 2024, 10:49 a.m.
- Aligned Layer aims to help engineers avoid bottlenecks when proving their code.
- The $20 million Series A was led by Hack VC.
- Aligned Layer is an EigenLayer "actively validated service" (AVS).
Ethereum verification protocol Aligned Layer has raised a $20 million Series A to enable faster and cheaper zero-knowledge (ZK) proofs on the world's second-biggest blockchain.
The fundraiser was led by Hack VC and included contributions from DAO5, L2Iterative, NomadCapital_io, FinalityCap, Symbolic VC and Theta Capital.
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ZK proofs refer to protocols in which one party can verify the truth of a statement to the other party without conveying any further information about it.
Aligned Layer’s aim is to help engineers avoid bottlenecks in proving their code while making it cheaper to build applications atop Ethereum that use ZK proofs, according to a blog post on Thursday.
“We verify proofs cheaply and quickly and post their results in Ethereum and any DA (data availability) layer that the developer wants," Aligned Layer said.
Aligned Layer is an EigenLayer “actively validated service" (AVS). EigenLayer is a crypto project focused on "restaking”, where ether is deposited as security for the main blockchain and can be repurposed to secure other networks.
The project’s developer, Eigen Labs, has also been the recipient of substantial investment, raising $100 million from crypto VC kingpin Andreessen Horowitz (a16z) in February.
Read More: EigenLayer, Crypto's Biggest Project Launch This Year, Is Still Missing Crucial Functionality
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