Webb Protocol Raises $7mn To Build Web3
Webb Protocol received $7 million in seed funding from Polychain and Lemniscap, with participation from Zeeprime and CMS Holdings among others.
The funds will be used to expand Webb’s staff, accelerate the development of innovative privacy tools and protocols, such as Zero-Knowledge and Multi-Party Computation (MPC) solutions, and create the most privacy-centric and streamlined user experience possible.
Given the frequency with which assets are transferred across various chains, the risk of data privacy being compromised via various attack vectors is significant. Through its private bridge protocol – an interoperable privacy network for cryptocurrency assets and data – Webb is spearheading a new privacy standard on cross-chain applications.
The Webb protocol is an interoperable zero-knowledge proof based system for privately moving assets between blockchains. Webb plans to extend this capability into a cross-chain messaging system with zero-knowledge-based property testing for data stored in the system.
(With inputs from Shikha Singh)
You need to login in order to Like
