Radius Raises $1.7 mn In Pre-Seed Funding Round
Radius, a pioneering blockchain technology startup, has successfully raised $1.7 million in a pre-seed fundraising round, marking a significant step in the blockchain ecosystem. Hashed VC initiated the investment drive, which included participation from a number of other investors, including Superscrypt, Lambdaclass, and Crypto.com.
Radius’ ground-breaking work focuses on Practical Verifiable Delay Encryption (PVDE) and MEV-resistant ZK-Rollups, a Layer 2 solution. Radius’ innovations aim to split the jobs of sequencing and execution, addressing the negative impacts of centralised sequencing, in which a single entity controls the ordering of transactions in a block. Radius, in other words, makes the blockchain more efficient and safe by prohibiting undue manipulation of transaction orders.
Radius’ PVDE technology, in essence, serves to preserve transaction privacy by encrypting them. This makes it more difficult for anyone to exploit the order of transactions, a practise known as maximum extractable value (MEV).
(With inputs from Shikha Singh)
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