Cross-chain messaging protocol Nomad on Thursday revealed that a slate of crypto heavyweights participated in the $22.4 million seed round at a $225 million valuation that was announced in April.
The newly announced backers included the venture capital arm of crypto exchange Coinbase, non-fungible token (NFT) marketplace OpenSea, Crypto.com Capital, crypto market-maker Wintermute, decentralized finance (DeFi) platform Gnosis and the Polygon blockchain. The round was led by crypto investment firm Polychain.
Nomad lets applications send data between blockchains and rollups, which are blockchain scalability solutions, with a focus on security. Security issues in cross-chain bridges have led to notable and expensive exploits, including the $625 million attack on Axie Infinity’s Ronin network in March. Nomad utilizes optimistic verification, which gives anyone watching a blockchain a short window to challenge questionable on-chain messages.
Use cases for Nomad include users bridging...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...