The Middle Empty Malazab proves 25 million dollars to bring speed and privacy to the institutional giants
Miden, a privacy protocol and speed of rapid transactions for large institutions, gets out of the polygon and raised $ 25 million in a seed tour.
Funding will be used to develop a MIDEN road map, including expanding the ecosystem and developer tools.
This tour led the A16z Crypto, 1KX, Hack VC, with the participation of Finality Capital Partners, Symomic Capital, P2 Ventures, Delta Fund and MH Ventures.
Miden design, which uses zero knowledge technology, is directed to large institutions that need confidentiality of transactions when carrying out large payments. For example, the protocol can be used for “every time you need Apple to pay a resource, and people began to tamper with the public stock price because of a misunderstanding of what is going on [on-chain]Azim Khan, co -founder of Miden, said in an interview with Coindesk.
Khan participated that many of these institutions and great investors tell the Miden team that they need a kind of resolution of privacy that is compatible with the organization, but it does not give up performance and decentralization.
So Miden, whose main network should be launched by the end of the year, work by allowing institutions and applications to choose whether they want to implement transactions in a general or private way on a large scale, and to rely on the network for fast speeds and privacy.
“It is completely different from most of the other Blockchains at the technical level, and it should be different because of the type of cases and functions we want to enable,” Bubin Bob, the other founder of Miden, told Coindesk. “I don’t think something like this is possible to build on the top of Ethereum or Solana.”
She was incubated in the middle of the polytheism in 2021, and It was originally assumed To be a different type of scaling solution for the ecological system. The cross show comes when the polygon has changed its efforts on Agglayer, and with the total closed total value of the protocol since the launch of Miden. Currently, 864 million dollars were secured inside the polytheistic networks, where about 80 % of the day was announced in which the middle was announced in the amount of $ 4.4 billion, according to the data from Devilia.
“Miden is what the Blockchains future appears to be.” “With the edge of its heart, it is not just an upgrade – it is a plan for the final form of the Blockchain structure.”
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