On December 5th, COINOTAG News reported that the Bitcoin protocol Fiamma successfully secured $4 million in seed funding, with notable participation from Faction and L2 Iterative Ventures. This financing round also saw contributions from prominent founders of BOB and SatLayeer, along with firms like AsteraVentures and ContributionCap. Fiamma’s vision is to redefine Bitcoin as a dynamically programmable asset, ultimately paving the way for a decentralized financial ecosystem built on the Bitcoin framework.
Addressing the existing programmability gap in Bitcoin, Fiamma is introducing BitVM2, a solution designed to facilitate seamless interactions between Bitcoin and other programmable blockchains while minimizing trust-related risks. The team is also focusing on the development of advanced technologies, such as a highly efficient ZK (Zero-Knowledge) validator utilizing Bitcoin scripting (Fflonk and Groth16), marking a significant milestone in optimized ZK validation on the Bitcoin network.