Layer Labs previously conducted three funding rounds, raising a total of $15.6 million, according to data from Crunchbase. The company’s Ethereum EigenLayer protocol aims to address the scalability and interoperability issues of the Ethereum blockchain.
The protocol allows for the creation of private, permissioned Ethereum networks that can communicate with each other and the public Ethereum network. This enables faster transaction times and lower fees, as well as increased privacy and security for users.
The new funding round will likely be used to further develop and promote the EigenLayer protocol, as well as expand the company’s team and operations. The success of the funding round so far suggests that investors see potential in the technology and the Layr Labs team.
Layer Labs’ Ethereum EigenLayer protocol is a promising solution to some of the Ethereum blockchain’s biggest challenges. The new funding round will be key in helping the company bring its vision to reality and make a significant impact in the space.
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Source: ethereum.today
