Nexio, a NYC-based developer of a Bitcoin scaling solution, recently raised $2.2m in pre-seed funding.
The round was led by Lattice Fund, with participation from HTX Ventures.
The company intends to use the funds to accelerate the development and adoption of its parallelized Bitcoin rollup technology.
Founded by Charlie Gordon and Jake Gordon, Nexio is improving Bitcoin scalability through a parallelized Bitcoin rollup that employs parallelized ZK Rollup with MoveVM. The team is building a suite of products and services that empower developers to leverage Bitcoin for complex DeFi applications, gaming platforms, NFT marketplaces, and infrastructure projects without compromising on security or efficiency.
Nexio’s technology combines a zk-Rollup, Multi-Party Computation (MPC) Threshold Signature Scheme, and the Fractal interpreter to set new benchmarks in speed, security, and interoperability. By utilizing MPC Threshold Signatures, Nexio prevents single points of failure, offering robust, decentralized transaction validation that is more secure than traditional multisig approaches. The technology supports over 30,000 transactions per second with ultra-low gas fees, making it ideal for high-frequency applications.
The company aims to achieve several key milestones in the next 6-12 months, including the rollout of a permissionless testnet and the subsequent launch of their mainnet solution.
FinSMEs
07/08/2024