June 3, 2024
Blockchain Capital, a well-known venture capital firm, invested $6 million in QED Protocol, a ZK scaling verification protocol on Bitcoin, in a seed funding round that concluded in April 2024.
This investment valued QED at over $100 million, reflecting the potential of its technology. QED utilizes zero-knowledge proof verification, a cryptographic technique, to address scalability and privacy concerns within the Bitcoin ecosystem. Unlike other scaling methods that rely on a less secure approach, QED prioritizes user trust and security.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
QED | June 3, 2024 | $6M | Seed | $10.6m | Blockchain Capital | RWA |
QED's technology boasts the capability of processing over 150,000 transactions per second, significantly enhancing Bitcoin's transaction throughput. This paves the way for the development of scalable Web3 applications, decentralized finance systems, and efficient cryptocurrency exchanges. The project aims to establish a network of "hyper-scalable" Web3 applications, encompassing applications similar to those found in Web2 but with superior scalability, such as massive multiplayer online games and high-volume order book exchanges.
QED plans to launch a testnet within the next few months, allowing for a controlled testing environment before a wider public launch. Following a community consensus on the testnet's performance, QED will introduce its mainnet, the core operational network. Additionally, to incentivize miners to participate in the network and maintain its functionality, QED will launch its own native token concurrently with the mainnet deployment.
The project is headquartered in Hong Kong and currently employs over thirty individuals in the Greater Bay Area. To fuel its expansion and development in the United States, particularly in Texas, QED is actively seeking qualified candidates for engineering and marketing positions. This strategic expansion suggests QED's commitment to establishing a global presence within the cryptocurrency industry.
About QED Protocol
QED is the world's first zk-Native blockchain protocol, built to scale trustless computation and privacy for the next generation of the internet. It allows for Horizontal Scalability, capable of supporting millions of concurrent users transacting in parallel, solving the key scaling barrier that has previously hindered mass adoption of blockchain.
It is Web2 Developer Friendly, which enables Web2 developers to write smart contracts in minutes with support the world's most popular programming languages including JavaScript, Python, and TypeScript.
It has zk-Native Speed, which features Turing complete smart contracts without the bloat of a zk-VM. QED's efficient circuits allow users to prove their own transactions, preserving privacy and reducing fees.
Website: https://qedprotocol.com/
X Account: https://twitter.com/QEDProtocol
X Account followers: 2,749
About Investor
Investor: Blockchain Capital
Description: Established in 2013, Blockchain Capital started the first venture capital fund dedicated to crypto builders. Now, they have over $2 billion in assets under management and are actively investing out of our sixth multi-stage fund.
The value prop is simple—they leverage our industry experience, conduct diligent research, and always put the founders and their teams first.
Website: https://www.blockchaincapital.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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