August 7, 2024
HTX Ventures, the investment arm of cryptocurrency exchange HTX, has announced a strategic investment in Nexio, a parallelized Bitcoin scaling solution. Nexio employs a parallelized ZK Rollup with MoveVM to achieve high transaction throughput and low fees.
The technology underpinning Nexio addresses key limitations of the Bitcoin network, including slow transaction speeds, high costs, and a limited developer ecosystem. By processing over 30,000 transactions per second at a cost of less than $0.01 per transaction, Nexio is poised to facilitate the growth of high-frequency applications on the Bitcoin blockchain.
Nexio has recently secured $2.2 million in pre-seed funding led by Lattice Fund, with participation from HTX Ventures. This investment will accelerate the development and adoption of Nexio's parallelized Bitcoin rollup technology.
The Nexio platform leverages a combination of ZK-Rollup, Multi-Party Computation (MPC) Threshold Signature Scheme, and the Fractal interpreter to deliver enhanced speed, security, and interoperability. The use of MPC Threshold Signatures ensures robust, decentralized transaction validation.
Nexio's partnership with Movement Labs has enabled the creation of a framework that supports cross-chain functionality and asset movement between Aptos, Sui, and Ethereum ecosystems. This interoperability is crucial for the development of a thriving Bitcoin-based ecosystem.
Over the next 6-12 months, Nexio plans to launch a permissionless testnet followed by the mainnet release. These milestones represent significant steps towards realizing the company’s vision of a scalable, secure, and cost-effective Bitcoin infrastructure.
About Nexio
Nexio is pioneering a new era of Bitcoin scalability. By leveraging advanced parallelized Bitcoin rollup technology, the company is creating a high-performance platform that empowers developers to build complex applications on the Bitcoin blockchain. With lightning-fast transaction speeds and minimal fees, Nexio is unlocking the potential for DeFi, gaming, NFTs, and essential infrastructure on Bitcoin. Led by industry experts, Nexio is redefining the possibilities of the world’s largest cryptocurrency.
Follow Nexio on X @buildnexio for more information.
About HTX Ventures
HTX Ventures is a seasoned global investor dedicated to fostering blockchain innovation. Leveraging a decade of industry experience, they identify, fund, and support promising blockchain projects worldwide. Their comprehensive support, coupled with a diverse portfolio of over 300 projects and strategic partnerships with industry leaders, positions them as a key driver of blockchain growth.
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