Blockchain Press Releases
Fermah Closes $5.2M Seed Round to Abstract Away the Complexity of ZK Proof Generation
NEW YORK, Sept. 18, 2024 /PRNewswire/ — Fermah, the universal proof generation layer, has announced the successful closure of its $5.2 million seed round, co-led by the a16z CSX fund and Lemniscap. The round also included participation from Bankless Ventures, Longhash Ventures, P-OPS team, Public Works, ZK Validator, Lambda Class, Daedalus, Zero DAO, Velocity Capital, and Daemon Ventures.
A number of S-tier builders also participated as angels in the round, including former Coinbase CTO and a16z GP Balaji Srinivasan; Celestia’s Mustafa Al-Bassam (CEO) and Nick White (COO); Co-founders of Polygon, Sandeep Nailwal, Jaynti Kanani, and Daniel Lubarov; as well as Aztec’s Zac Williamson (CEO) and Claire Kart (CMO); and several others.
The funding will go towards product development and team expansion, with Fermah currently hiring for a number of key roles, as part of the company’s vision to make zero-knowledge proofs the default substrate for all computation.
Fermah was founded by seasoned cryptographer Vanishree Rao, who has dedicated the last 15 years to designing and building Zero-Knowledge Proofs (ZKPs), and holds a PhD in Cryptography from UCLA. Vanishree was also the Lead Cryptographer at O(1) Labs – the team behind Mina Protocol, one of the earliest and most innovative ZK protocols. She has extensive experience working with cryptographic primitives including secure hash functions, advanced digital signature schemes, ZKPs, multi-party computation protocols, key exchange protocols, and program obfuscation.
While ZKP technology is slowly becoming practical enough to power broad, modern applications, the generation of proofs remains extremely resource-intensive, requiring expensive, powerful physical infrastructure. The underutilization of this hardware inflates the price users pay for their ZK transactions. Beyond this, designing, implementing, and maintaining the optimal incentive structure for this infrastructure is extremely onerous.
Fermah – which is optimized for cheap, fast, and reliable ZK proof generation – is addressing this long-standing complexity issue inherent to ZKPs, functioning as a marketplace for ZK proof generation. Fermah generates proofs for any instance in which ZK is used – whether it’s for ZK rollups, ZK bridges, ZK coprocessors, ZKML projects or ZKFHE projects. Fermah is neutral and architected to support all proof systems, including zkVMs, zkEVMs, Groth16, and all other proof systems.
Fermah aggregates demand from various sources, allowing suppliers to leverage economies of scale, enabling a reduction in costs for proof generation. In turn, the range of use cases that can practically leverage ZKP technology expands – creating a flywheel that grows the aggregate demand for proofs, and hence enables further economies of scale to lower costs. This flywheel makes the economics of ZKPs viable across a much broader range of use cases. When combined with Fermah’s several technical breakthroughs, Fermah enables the first efficient marketplace for ZK proof generation.
Roderik van der Graaf, Founder and Managing Partner of Lemniscap, said: “Lemniscap is firmly behind Fermah in their mission to provide fast, cheap, and reliable infrastructure to help developers build category-leading products. By abstracting ZKP complexity, Fermah is lowering the technical barriers to entry, enabling more developers and businesses to integrate these proofs into their systems. This long awaited democratization of ZKPs extends the reach of these advanced cryptographic techniques to a broader range of applications.”
Vanishree Rao, Founder and CEO of Fermah, said: “I’m extremely optimistic that Fermah will revolutionize the ZK space as we know it. With the right team, backers, and experience, we’re poised to bring our vision to fruition. Soon, incorporating zero knowledge into applications will be frictionless. After over 15 years of building ZKPs, I can clearly see that we are approaching an inflection point: the infrastructure is finally in place, and we’re on the precipice of a boom in innovative ZK applications. Fermah will play an integral role in this boom.”
About Fermah
Fermah is the universal proof generation layer. It functions as a marketplace, where the supply side comprises GPUs and FPGAs. On the demand side, Fermah can generate proofs for any instance in which ZK is used. Fermah is optimized for cheap, fast, and reliable ZK proof generation.
About Lemniscap
Lemniscap is an investment firm specializing in investments in emerging crypto assets and blockchain startups. Since its founding in 2017, Lemniscap has funded multiple investments in the crypto blockchain space, on the core belief that blockchain technology will upend traditional business models, resulting in profound changes in the world economy. The Lemniscap team consists of talented people with backgrounds in financial markets, PE/VC, technology and entrepreneurship. For more information, visit https://lemniscap.com.
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Blockchain Press Releases
$CATI and $HMSTR Set to List on Bybit: Expanding the TON Blockchain Offerings
DUBAI, UAE, Sept. 19, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to remind its community about the upcoming listings of $CATI and $HMSTR. These tokens, native to the popular Telegram-based games Catizen and Hamster Kombat, respectively, are set to join Bybit’s growing list of innovative projects on the TON Blockchain.
Explore the Worlds of $CATI and $HMSTR
$CATI is the driving force behind Catizen, a blockchain-powered virtual cat city where players can earn $CATI through immersive gameplay and in-game activities. Meanwhile, $HMSTR fuels Hamster Kombat, a fast-growing Telegram mini-game that’s capturing the attention of crypto enthusiasts worldwide. Both games offer a unique Tag-to-Earn feature, rewarding users for tagging specific in-game elements, which adds a new layer of engagement to the gaming experience and helps grow their communities.
“We’re thrilled to welcome $CATI and $HMSTR to the Bybit family. These innovative projects represent the future of the TON ecosystem, and we’re proud to provide our users with the opportunity to participate in their growth,” said Emily Bao, Head of Spot Market and Web3 at Bybit. “Bybit’s commitment to supporting promising projects and fostering a vibrant trading environment remains unwavering.”
Trade $CATI and $HMSTR on Bybit
Bybit provides a secure and reliable platform for trading, offering users peace of mind with its strong emphasis on security. In addition to security, Bybit offers early access to promising projects such as $CATI and $HMSTR, giving its users the chance to engage with emerging communities within the growing blockchain gaming space. These listings highlight Bybit’s ongoing commitment to supporting innovative projects on the TON Blockchain.
Key Dates to Watch:
$CATI
- Spot Pre-Market: https://www.bybit.com/en/trade/spot/pre-market/detail?token=CATI
- Perpetual Pre-Market: https://www.bybit.com/trade/usdt/CATIUSDT
- Official Spot Listing: September 20, 2024: https://www.bybit.com/en/trade/spot/token-splash/detail?code=20240913045655
$HMSTR
- Spot Pre-Market: https://www.bybit.com/en/trade/spot/pre-market/detail?token=HMSTR
- Perpetual Pre-Market: https://www.bybit.com/trade/usdt/HMSTRUSDT
- Official Spot Listing: September 26, 2024: https://www.bybit.com/en/trade/spot/token-splash/detail?code=20240918061036&ref=ARRQOO
#Bybit / #TheCryptoArk
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 40 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
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View original content:https://www.prnewswire.co.uk/news-releases/cati-and-hmstr-set-to-list-on-bybit-expanding-the-ton-blockchain-offerings-302253345.html
Blockchain
MultiversX and Helios Staking Join Hands For Web3 Collabathon; Unveil Helios Connect dApp for Unified Cross-Chain Identity Management
MultiversX (EGLD), the leading internet scale blockchain known for its sharding technology, announced its support to the Helios Collabathon conducted by Helios Staking, to redefine product building through an effort of collaboration over competition. Jointly supported by the MultiversX Foundation, Hatom, XOXNO, and the Injective Foundation, the first-of-its-kind Collabathon brought together 14 top-level Web3 builders from across the world with skills ranging from coding to marketing and business development, to solve pressing industry challenges related to singular user identity across multiple blockchains.
With a background in building 11 different companies and winning 15 hackathons, the Collabathon’s participants deployed a fully-functioning MVP of Helios Connect in 8 days, with a clean interface and Smart Contracts deployed on mainnet on both the Injective and MultiversX blockchains. Simultaneously, all content and related documentation were posted to ensure the product has visibility and is usable afterwards, resulting in Helios Connect acquiring active users already.
As a fully open-source product, Helios Connect is a groundbreaking cross-chain wallet verification and identity dApp, allowing users to create a singular, unified identity across multiple blockchains, addressing a significant challenge of User Fragmentation in the decentralized ecosystem. By simplifying and securing identity management, Helios Connect is poised to become a building block for a plethora of applications that strengthen connections between different ecosystems.
Alongside building the product, the Collabathon hosted networking events and four workshops, hosted by Robert Sasu (Core developer of MultiversX), Joan (Product Manager of Injective Labs), Alex Radu (CEO of Astrarizon), and Sergi & Jose (Founders of Moonlorian).
Robert Sasu, Core Developer of MultiversX, who supported the Collabathon on-site, shared his thoughts: “I am truly impressed by how much the team accomplished in just 10 days, proving how this Collabathon can bring viable products with real use cases to market whilst sparking innovation between communities.”
Kevin Lydon, Co-founder and Managing Director of Helios Staking shared his excitement: “The Helios Collabathon has proven to be a huge success, not only in achieving our technological goals but also in creating a spirit of collaboration. We are looking forward to developing the concept further and pushing the boundaries of what is currently thought possible.”
Open Source For The Community
In a commitment to supporting innovation, Helios Connect’s open-source feature paves the way for integrated cross-chain use cases, such as cross-chain identity management. This approach is designed to provide a platform where cross-chain products and services can grow and thrive, enabling the wider Web3 ecosystem to benefit from this cutting-edge technology.
Helios Connect will serve as a foundational tool that many applications can be built on top of, such as cross-chain governance applications, tax tooling, ticketing, an anti-scam scanner and more.
The MultiversX Foundation continues to support teams and initiatives that are at the forefront of innovation to accelerate blockchain adoption and ecosystem growth by creating meaningful products that benefit the entire Web3 ecosystem.
The post MultiversX and Helios Staking Join Hands For Web3 Collabathon; Unveil Helios Connect dApp for Unified Cross-Chain Identity Management appeared first on HIPTHER Alerts.
Soulbound — a Web3 livestreaming platform, will take center stage at TwitchCon 2024 in San Diego. The company will showcase how blockchain technology can transform the livestreaming experience for gamers, streamers, and developers. Backed by major investors including Animoca Brands, NGC Ventures, and Big Brain Holdings, Soulbound will introduce its groundbreaking platform to a global audience of gaming enthusiasts at this prestigious event.
TwitchCon, organized by a video livestreaming service Twitch, will be held on September 20-22, 2024. Known for celebrating all things gaming and streaming, TwitchCon is the perfect stage for Soulbound to demonstrate the power of decentralized technology. The platform aims to provide gamers and content creators with tools to connect, compete, and earn in a transparent and secure Web3 environment. Game studios can also benefit from access to an engaged Web3 gaming community, offering new ways to boost visibility and drive participation.
Soulbound’s Web3 livestreaming platform represents a significant leap in how content creators and gamers can interact with their audiences. Leveraging blockchain, Soulbound introduces features like stream-to-earn, an NFT sticker marketplace, and a prediction market, making users engage more deeply with the content while generating revenue. These blockchain-powered mechanisms create transparent and automated interactions and allow streamers to monetize their activities fairly and efficiently.
Through the platform’s bounty system, game developers can set up prize pools for streamers. Developers deposit funds into a smart contract, coming up with streaming challenges that incentivize participation. Bounty Hunters, or streamers, participate in these challenges over a set period, with rewards distributed based on audience size and time streamed. This transparent mechanism ensures that streamers are compensated proportionally, cultivating a fair and competitive environment.
With a unique prediction market feature viewers can place bets on games or individual players, which generates additional revenue for streamers. This option enhances viewer engagement while allowing streamers to boost their earnings in new, dynamic ways.
Soulbound’s appearance at TwitchCon 2024 in San Diego follows its successful participation at TwitchCon Europe, which was held at the Rotterdam Ahoy in Rotterdam, Netherlands, on June 29-30, 2024. The company’s presentation in Europe introduced thousands of gaming enthusiasts to the exciting possibilities of Web3 livestreaming, and the platform is now poised to capture even more attention in San Diego.
The post Soulbound to Unveil New Web3 Livestreaming Platform at TwitchCon 2024 appeared first on HIPTHER Alerts.
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