In a significant development for blockchain technology, Brevis Network has successfully closed a $7.5 million seed funding round, co-led by Polychain Capital and Binance Labs. Other prominent investors included IOSG Ventures, Nomad Capital, Bankless Ventures, and Hashkey, among others. Brevis Network specializes in ZK coprocessing, a technology aimed at enhancing blockchain scalability through the use of zero-knowledge proofs. This innovative approach allows for off-chain computations, significantly decreasing the burden on blockchain networks. By validating and sending only essential proofs back to the main chain, Brevis endeavors to boost transaction speeds while concurrently reducing operating costs. This funding is anticipated to accelerate Brevis’s development and implementation of its groundbreaking scalability solutions in the cryptocurrency ecosystem.
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