A16Z Crypto led $ 25 million in investment in MIDEN, an independent blockchain project that protrudes from Polygon Labs.
MIDEN has finished the $ 25 million seed round led by the A16Z Crypto, 1kx and Hack VC, and LENE of Finality Capital Partners, SymBolic Capital, P2 Ventures, Delta Fund, MH Ventures and Makerdao With the participation of Angel Investors, including Sreeram Kannan from Christensen and Eigenlayer, we’ve finished $ 25 million.
MIDEN is a ZK (Zero-Knowedge) evidence blockchain that focuses on high scalability through the Hybrid Consensus mode, moving the Mainnet’s transaction execution in “Edge Devices” referring to a user device.
According to a April 29 announcement with COINTELEGRAPH, MIDEN, designed for institutions that assess confidentiality, allows the application to run both public and private transactions with the entire privacy.
The execution on the EDGE device can help “a bottleneck to limit the traditional chain”, according to MEDEN’s co -founder and former engineer Bobbin Threadbare:
“This allows the blockchain to rely on supernova or to scal without sacrifice of decentralization, and personal information protection later provides built -in function instead of Goryeo.”
$ 25 million will be used to fund the development of MIDEN, and Mainnet is scheduled for the fourth quarter of 2025.
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Nailwal of Polygon Labs says MIDEN is “the future of blockchain.”
According to Sandeep Nailwal, the founder of Polygon Labs, “MIDEN is the future of the blockchain, and at the core, Edge EXECUTION’s Edge EXECUTION is not just an upgrade, but a blueprint of an architecture.
“It is helpful to grow the Agglayer ecosystem to become an ambition and raw chain of rivals and rivals with Solana, SUI and APTOS.
MIDEN plans to drop about 10%of the polygonal (POL) token holders and starkers of the basic tokens to compensate for the unique ecosystem.
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Existing blockchain No Mass Adoption Preparation: MIDEN Co -founder
According to MIDEN’s thread bear, the existing blockchain, which lacks the principles of Web3-Native such as personal information protection, scalability or censorship resistance, is not ready to adopt large quantities.
However, MIDEN’s infrastructure added that it is a catalyst for adopting large -scale institutions.
“In fact, by this point, the blockchain is not in a position to provide privacy without damaging performance or programming possibilities. This is a major problem.”
Large companies that have joined this space require personal information protection solutions through regulatory compliance, and a significant gap on solutions such as Middleten remains.
Other industry watchers also criticized the industry’s confidential shortage of institutional adoption restrictions.
Confidential computing technology, such as fully homogeneous encryption, can unlock the next $ 1 trillion capital to the encryption space with continuous technology development, and REMI GAI, the founder of INCO, told Cointelegraph.
https://www.youtube.com/watch?v=Hb0z1ti8uys
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