BlocksInform
Tracy Wang
Tracy is a deputy managing editor at CoinDesk. It possesses btc, eth, mina, ens, miscellaneous stablecoins, and a few nfts.
Sovereign Labs, a crypto project focused on building rollups, has raised $7.4 million in seed funding.
The round was carried out by companies to haunt with the participation of maven 11, 1kx, robot companies and capital in open. Fundraising places the assessment of society in the "eight-figure" range, according to a project spokesman. The government laboratories have refused to disclose their accurate assessment.
Sovereign Labs is building a software development kit (SDK) that makes it easier for developers to create interoperable zero-knowledge rollups. A rollup is a special kind of blockchain which derives part of its security from another blockchain, allowing scalability without sacrificing security.
The new sovereign sdk is designed to be interoperable, scalable and seamlessly deployable across any layer 1 blockchain.
"We are in fact totally agnostic on blockchain as our roll-up rolls," said cem ozer, co-founder and chief executive officer of sovereign laboratories, who added that rollups built with the sovereign sdk will support any layer 1 blockchain.
Rollups powered by zero-knowledge, or zk, proofs use a type of cryptography that can prove the validity of a statement without the need to reveal the underlying information. Recently, the buzzy sector has also been attracting ample venture funding, as well as serving as a core component for existing crypto projects like zkSync, Starknet, Zcash and Mina.
'Building with zero-knowledge has historically been accessible only to a few phds in cryptography,' said co-founder and chief technology officer Preston Evans in a statement. In sovereign laboratories, we create tools for normal developers.”
Ozer and Evans added that Sovereign Labs had no intention of throwing a token, adding that they are "100% focused" on the construction of the SDK frame.
"In our view, other systems (such as subnets or bridges) all lose the basic feature of blockchains, which is the verification of the end user," says ozer. "If we lose this, let's build them on [Amazon Web Services]."
