A16Z Crypto led an investment touch of $ 25 million in Miden, an independent blockchain project was released from Polygon Labs. Miden has closed its 25 million dollars seed tours led by A16Z Crypto, 1kx and Hack VC, with the participation of Finality Capital Partners, Symbolic Capital, P2 Ventures, Delta Fund, MH Ventures, as well as providential investors, including Sreeram Kannan from Makerdao. Miden is a blockchain propelled by zero knowledge (ZK) focused on high scalability via its hybrid consensus mode, which moves the execution of transactions from Mainnet on “Edge devices”, referring to user devices. Designed for institutions that appreciate confidentiality, MIDID allows applications to execute public and private transactions with a privacy, according to an announcement of April 29 shared with Cointtelegraph. The execution on the EDGE peripherals can help with the “bottlenecks that limit traditional channels,” said Bobbin Threadbarus, the co-founder of Miden and former Meta engineer, adding: “It allows blockchains to evolve without relying on surnoes or sacrificial decentralization, while making confidentiality a characteristic reflection after. “
Full report: Polygon Labs Spinout Miden, a blockchain project based on zero knowledge evidence focused on high scalability, increased a seed of 25 million dollars led by A16z Crypto, 1kx and Hack VC.
