Bitcoin Dentralized Finance (Defi) Arch Labs developed $ 13 million in funds to build “Archvm”, which developers, according to developers, will provide intelligent contract functionality in the original block chain.
The round of funds, which valued the company at $ 200 million, was led by Panther Capital, according to an announcement on Tuesday.
Arch plans to enable decentralized applications and protocols in Bitcoin.
ARCHVM will handle the chain calculations to enable “complete Turing intelligent contracts in the Bitcoin base layer” and will provide transaction speeds similar to Solana, said Arch Labs in the announcement.
The objective of introducing Bitcoin intelligent contracts began to gather Steam in October with the launch of Bitvm computer language.
Numerous projects are now using bitvm as a basis for bringing intelligent contracts to Bitvcoin through layers or bridges of layer 2. The goal of Arch is to avoid the need to join assets to CAPA-2, which could present additional risks.
