Aligned Layer raises $20 million to develop verification layer for scaling dapps
Quick Take
- Aligned Layer raised $20 million in a Series A funding round led by Hack VC.
- The project is designed to serve as a verification layer for validity and zero-knowledge proofs.
Aligned Layer, a blockchain project focused on verification of proofs generated by Layer 2 dapps, has raised $20 million in a Series A funding round. The round was led by Hack VC and saw participation from DAO5, Iterative Layer, Nomad Capital, and Finality Capital, among others. The firm didn’t disclose its latest valuation.
Aligned Layer is designed to serve as a verification layer for validity and zero-knowledge proofs — thereby supporting the scaling of decentralized applications on Ethereum and, potentially, other blockchain networks.
It will be one of several actively validated services on restaking protocol EigenLayer. As an ASV, Aligned Layer will derive its security from EigenLayer’s restaking mechanism.
The project aims to simplify and reduce the costs associated with proof generation and verification, allowing developers to focus on product development without worrying about scaling infrastructure. It seeks to verify proofs both cheaply and quickly and to integrate their results on Ethereum and any data availability platform such as Celestia and EigenDA.
The verification software is developed using the Rust and Go programming languages. Aligned Layer also plans to provide a software development kit to help developers verify the results of proofs within any smart contract.
Aligned Layer’s roadmap includes migrating to an EigenLayer testnet in the upcoming weeks — which will precede the launch of its mainnet.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
