The encrypted Ethereum layer 2 community, TEN (aka The Encrypted Community), has introduced the completion of a $9 million funding spherical led by the banking consortium R3.
- TEN is a layer 2 rollup platform concentrating on encryption, MEV prevention, scalability, and gasoline effectivity. It’s mentioned to supply “a steadiness between Optimistic-based L2s and ZK-Rollups.”
- Utilizing encryption, TEN lets builders select which elements of their good contract they’d wish to hold non-public, and which elements public.
- Different options embrace speedy bridges, and safe random quantity technology.
- R3 is a consortium of 42 of the world’s largest banks which are exploring blockchain know-how and real-world asset tokenization.
- Different individuals within the funding spherical embrace Republic Crypto, KuCoin Labs, Huge Mind Capital, DWF Labs, and Magnus Capital.
- “Layer 2s have been all the time not nearly scaling, however enhancing Ethereum with new options in methods that can not be achieved on Mainnet,” mentioned Gavin Thomas, Co-Founder and CEO of Obscuro Labs, in a press launch shared with CryptoPotato.
- TEN is at the moment in its testnet part, with mainnet set to be launched in October.
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