8 months ago
Polymer Labs, the inter-blockchain connection (IBC)-based networking furniture 2 (L2), precocious disclosed that it had raised $23 cardinal via a Series A backing round. Polymer said lone Ethereum and each chains nether the IBC power volition initially beryllium compatible with its interoperability solution.
‘Connecting Billions of Dollars successful Value Across Rollups’
Polymer Labs, 1 of the archetypal modular Inter-Blockchain Communication (IBC)-based networking furniture 2 (L2), precocious announced that it had closed a $23 cardinal Series A backing round. The backing circular was co-led by Blockchain Capital, Maven 11, and Distributed Global, with the information of Coinbase Ventures, Placeholder, Digital Currency Group, North Island Ventures, and Figment Capital.
According to a statement, Polymer Labs volition usage the funds raised to further make the L2, which serves arsenic an Ethereum Interoperability Hub. The L2, which is yet to beryllium launched, seeks to link billions of dollars successful worth crossed rollups. Polymer said it is hopeful that this solution volition not lone bring scalability benefits but volition besides beryllium to beryllium reliable and little susceptible to hacking attacks.
“Polymer’s ngo is to found the adjacent procreation of the net by ensuring that the interoperability furniture connecting each blockchains is neutral, open, modular, and permissionless crossed ecosystems,” Peter Kim, a Polymer co-founder said.
Meanwhile, Yuan Han Li, an capitalist with Blockchain Capital, has said that his enactment present supports Polymer’s extremity of bringing interoperability standards to Web3. However, the connection said lone Ethereum and each chains nether the IBC power volition initially beryllium compatible with Polymer’s solution.
Commenting connected the concern betwixt his enactment and Polymer, helium said: “We are truly excited that Polymer is bringing the generalized IBC primitive into the Ethereum rollup scenery by gathering a versatile transport hub, and thrilled that we astatine Eigenlayer person the pleasance of partnering with the passionate squad astatine Polymer.”
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