Gevulot, a blockchain project specializing in zero-knowledge proofs, has successfully closed a $6 million seed funding round. Variant led the investment, joined by RockawayX, Volt Capital, and Staking Facilities, alongside notable individual backers like Polygon Labs CEO Marc Boiron and Manta Network founder Shumo Chu. Gevulot has chosen not to disclose its valuation post-funding.
—
The injected capital will fuel the deployment of Gevulot’s Layer 1 blockchain, founded by Teemu Päivinen, empowering developers to leverage zero-knowledge proofs (ZK proofs) and delegate computational tasks to an advanced network of hardware operators. This approach opens up novel avenues for scalable applications within the blockchain realm.
Zero-knowledge proofs have gained substantial traction recently for their ability to enhance blockchain app scalability by efficiently verifying data.
Gevulot is gearing up to unveil its developer-focused network, dubbed the devnet, a restricted test network. This initiative is in collaboration with staking validator firms such as P2P.org, Supranational, Staking Facilities, and RockawayX Infrastructure.
On Gevulot’s platform, deployed programs will execute to produce proofs, subsequently verified by the network and integrated into blocks. Notably, Gevulot’s blockchain primarily consists of proofs within its blocks, deviating from the conventional smart contract state transitions seen in other Layer 1 blockchains.
Variant’s Endorsement
Variant, the lead investor in the seed round, expressed enthusiasm about Gevulot’s potential. They stated, “Built as a layer-one general-purpose proof network, Gevulot enables anyone to deploy a prover or a verifier on-chain.
“It’s low-lift and simple: deploying these programs is largely akin to deploying or interacting with a smart contract.”
Variant, Web3 VC Firm
In addition to funding, Gevulot is releasing several resources on GitHub to demonstrate its capabilities and facilitate broader testing. These resources include:
A demo of Starkware STARK, Filecoin SNARK, Marlin, and Ed25519 provers operating within the Gevulot environment, alongside verifier programs for testing.
The Gevulot environment, configured as a Nanos unikernel, with instructions for compiling and running a prover locally or on Google Cloud.
Gevulot’s journey is just commencing, with plans to unveil more information on timelines and future strategies in the near future. To stay updated, follow them on X/Twitter.
Read the full article here