Blockchain startup Aptos Labs, founded by former Meta Platforms employees who worked on the defunct Diem project, is receiving increased investment from Binance Labs, the venture capital arm of the world’s largest cryptocurrency exchange.
The increased funding in Aptos, coming after a first round of funding announced in March, is partly due to the programming language used by the company in building its blockchain, according to Yi He, co-founder of Binance and the head of Binance Labs.
The language, called Move, which had been intended for the Diem blockchain, “is different from BNB Chain and Solana and is more efficient and secure,” she said.
Infrastructure development
He said the investments demonstrated Binance Labs’ commitment to infrastructure building, which “remains a bottleneck within the industry.” Recent hacks and network outages have also shown the importance of blockchain infrastructure.
“We believe that the technological competitiveness of the team could bring increased...
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