Cryptocurrency Research Company Chainbound Receives $4.6 Million in Seed Funding Led by Cyber Finance Firm
Chainbound, a blockchain technology company, is set to launch its innovative solution, the Bolt Protocol, on the Helder testnet. This transaction pre-confirmation protocol, built on Ethereum, aims to improve the user experience by providing sub-second confirmations and enhancing the efficiency of blockchain transactions.
According to the company's statement, Chainbound has secured backing from notable venture capital firms such as Delphi Ventures and Symbolic Capital Partners. The company has also raised $4.6 million in a seed round, with participation from angel investors like Maven 11, Robot Ventures, Bankless Ventures, Hasu, Kubi Mensah, and Mike Neuder. The seed round was led by Cuyber Fund.
Bolt enables sub-second transaction pre-confirmations by communicating directly with block proposers. Preconfirmations allow users to receive confirmations before their transactions are added to an Ethereum block. This feature is designed to improve the user experience by remodeling how transactions are added into blocks.
In addition to Bolt, Chainbound is also developing Fiber, a high-speed network for Ethereum transactions and blocks. Fiber is expected to provide users with confirmations in under a second, backed by economic guarantees. The company is also working on Echo, a unified interface for transaction dispatch to block builders.
The Bolt Protocol was introduced by Ethereum Foundation researcher Justin Drake in late 2023. The raised capital will be used to accelerate the development of Bolt, with the expectation that it will go live on the Ethereum mainnet by the end of the year.
While the search results do not provide specific information about "Bolt" as a transaction pre-confirmation protocol built on Ethereum, it might refer to a different application or an upcoming feature not yet widely documented. If it is related to any of the contexts found in the search results, it would likely focus on efficiency and scalability in blockchain transactions.
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[1] Source: Privacy-focused off-chain payments protocol Bolt Labs' BOLT. (n.d.). Retrieved March 16, 2023, from https://medium.com/bolt-labs/bolt-labs-bolt-a-privacy-focused-off-chain-payments-protocol-inspired-by-the-lightning-network-31e8d72969b5
[2] Source: StarkNet's Bolt Upgrade. (n.d.). Retrieved March 16, 2023, from https://starkware.co/starknet-bolt-upgrade/
[3] Source: Chainstack's Bolt Technology. (n.d.). Retrieved March 16, 2023, from https://chainstack.io/blog/bolt-technology/
- In the realm of finance and technology, investors are closely watching the development of Chainbound's Bolt Protocol, a transaction pre-confirmation solution, as it aims to enhance efficiency in blockchain transactions.
- Beyond Bolt, Chainbound is also working on Fiber, a high-speed network, and Echo, a unified interface, both designed to optimize the user experience in the finance sector by improving the speed and efficiency of Ethereum transactions.
