Zero-Knowledge Proof Blockchain Gevulot Secures $6 Million Seed Funding
Gevulot, a blockchain computing network for zero-knowledge proofs, has successfully raised $6 million in recent seed funding. Founded by Teemu Päivinen, the Gevulot aims to use funds to power the blockchain’s Layer 1 deployment.
Variant played a prime role in leading Gevulot’s recent funding round. It was joined by Volt Capital, RockawayX, Staking Facilities, Polygon Labs CEO Marc Boiron, and Manta Network founder Shumo Chu also contributed to the investment.
Layer 1 Zero-Knowledge Proof Blockchain Development
Zero-knowledge proofs have gained significant interest recently due to their ability to effectively validate data with minimal computational requirements and reduced strain on the network. In return, this improves the scalability of blockchain applications.
The capital will enable the development and deployment of Gevulot’s Layer 1 blockchain project. It will empower developers with the capability to utilize Zero-Knowledge proofs and distribute computing responsibilities among a complex infrastructure of hardware managers.
Gevulot’s Developer-focused Network (devnet)
Gevulot plans to launch its developer-focused network, devnet, an exclusive testing environment, in the upcoming weeks. To provide the infrastructure required for the devnet, it will collaborate with top validator companies, including P2P.org, Supranational, Staking Facilities, and RockawayX Infrastructure.
Gevulot’s deployed program creates evidence, which is subsequently authenticated by the community and added to blocks. These proofs are inserted into blocks after verification. Its blockchain blocks consist mostly of proofs instead of using the typical smart contract state changes found in another layer 1 blockchain.
Variant revealed that Gevulot plans to bring zero-knowledge proof tech to the masses and build scalable apps for it within the broader context of the blockchain environment.
Gevulot’s successful seed investment round paves the way for scalable blockchain applications. Its Layer 1 blockchain presents new possibilities for developers, emphasizing zero-knowledge proofs and the capacity to assign compute tasks. Gevulot distinguishes itself from other blockchain networks and offers a distinctive data verification method by including validated proofs directly into blocks.
Angel Marinov is the Managing Editor at Coinlabz. With extensive knowledge of crypto payments and blockchain use cases, Angel is a trusted source of accurate and timely information