QED Protocol, a Hong Kong-based zk-native execution layer empowering the Web3 ecosystem emerging on Bitcoin, raised $6M in funding.
The round was led by Blockchain Capital.
The company intends to use the funds to expand operations and its development efforts.
Founded by Carter Feldman, QED is Bitcoin’s native execution layer, designed to address the challenges of Web3 development. Its platform is built for developers and users alike, supporting applications from DeFi to NFTs and beyond. Additionally, with its horizontally scalable architecture, it sidesteps entirely the traditional tradeoffs with security and scalability by using its breakthrough architecture that utilizes fast-recursive zero-knowledge proofs and a PARTH state model which combine to enable hyperscalable Web3 applications such as orderbook exchanges, as well as Web2-scale applications and games.
The company has raised more than $10M, securing earlier this year a pre-seed funding round of $3.25M that was led by Arrington Capital and included other notable investors such as Starkware, Draper Dragon, Blockchain Builders Fund, UTXO, Lbank Labs, Paper Ventures, Valhalla Capital, Edessa Capital and Anagram Ltd.
FinSMEs
04/07/2024