A group of investors and the venture capital division of cryptocurrency exchange Coinbase contributed $10 million to a strategic investment round for ZkLink. The company is an infrastructure layer that facilitates asset trading across blockchains. In order to launch its mainnet in the third quarter, the company will use these funds.
ZkLink Raised $10 Million in a Strategic Funding Round
The competition to introduce zk-based technology has begun to heat up. Within days of one another, Polygon and Matter Labs both announced in March that their competing zk-EVM (Ethereum Virtual Machine) products would deploy on the mainnet. Prior to the introduction of its own mainnet, ZkLink will start a community campaign named “Odyssey” and the “Dunkirk” asset withdrawal test.
The company plays a crucial role in shaping the future of the crypto landscape by leveraging the potential of ZK technology. For newcomers to the field, envision a scenario where [decentralized finance] DeFi trading delivers comparable user experience, efficiency and speed as centralized exchanges, but also provides the advantages of being trustless and non-custodial.
Vince Yang, co-founder
About ZkLink
Zero-knowledge rollups, an Ethereum scaling strategy that uses mathematics to demonstrate the legitimacy of an off-chain transaction to reduce latency, throughput, and costs, are the foundation of ZkLink. Layer 1 blockchains and layer 2 protocols are connected by the organization’s decentralized trading layer. Its application programming interfaces (API) can be used by programmers to build a variety of businesses, such as non-fungible token (NFT) marketplaces and order book decentralized exchanges.
