Even if Crypto finds a growing traction at Wall Street and among retail investors, few people consider blockchain technology that offers it as useful or relevant to their daily life. A crypto startup called Subzero Labs wants to change this, and plans to launch her own blockchain designed for use beyond simple speculation.
“We are doing something for real world users,” said Adepoju, co -founder and CEO of Subzero Labs Fortune.
The startup announced on Friday that it had raised $ 20 million in a seed lap headed by the Crypto Pantara Capital investment company. Other participants included the variant of the crypto venture capital company, the Coinbase venture capital branch and the cryptographic office of the high frequency negotiation company Susquehanna.
ADEPOJU refused to detail the assessment of his startup. The agreement, which concluded in the first quarter of the year, concerned mandates of equity and token, or allocations of a cryptocurrency still to be published, he said.
iPod on iPhone
Adepoju, who is 30 years old and lives in New York, is a long -standing engineer. At the start of his career, he worked at the manufacturer of AMD fleas, moved to the Dell laptop giant, then obtained a job at the Titan Netflix in streaming. In 2021, he decided to plunge into the crypto when he joined the Startup MySten Labs as an engineer.
Founded by former Meta developers, Mysten Labs is one of the main societies behind the Blockchain Suit, whose technology stems from the failed attempt by Mark Zuckerberg to launch its own stablecoin. ADEPOJU helped to build sui from design to launch, but, at the beginning of 2024, he took a career break. “I wanted to take a step back and observe what it meant so that a network really succeeds,” he said.
While he was thinking about his next move, he linked himself to his co -founder Lu Zhang, also a former employee of MySten Labs, and decided to embark on the launch of his own blockchain. Together, the two have created Subzero Labs, which currently has 20 employees.
Some may say that at a time when there are dozens of active blockchain projects, the world does not claim exactly for another. In response, ADEPOJU maintains that none is still good enough to perform real applications. “When you really ask:” Do we need another? ” It’s like asking: “Do we need another iPod?” He said. “No, we don’t do it, but we really need an iPhone.”
He hopes that his new blockchain, nicknamed Rialo, will be this iPhone. Acronym, Rialo means “Rialo is not a layer 1.” Layer 1 blockchains are like Ethereum, which is a decentralized network of servers that process and store the data. The layers 2 are blocks of blocks built above the blockchains of layer 1.
ADEPOJU says that Rialo is not a layer 1, 2, 3, 4, 5 or 6. In fact, it is reluctant to compare it to all existing cryptographic products. He says that the blockchain is designed for non -crypto developers and that it allows engineers to reproduce the tools generally implemented outside a blockchain. This is in particular the possibility of accessing information, such as an FICO score, elsewhere on the Internet without the need for an oracle or an external data supplier.
“The cameras shipped with laptops. They were separated,” he said, referring to the external video cameras that people connected to their computers in the early 2000s. “They were grouped. These things happen with all technologies. ”
