They measure, a Privacy protocol and rapid transaction speeds for large institutions, is turning out of Polygon and has raised $ 25 million in a round of seeds.
Financing will be used to develop the measure of measure, including the expansion of the ecosystem and developer tools.
This round was directed by A16z Crypto, 1kx and Hack VC, with the participation of Finish Capital Partners, Symbolic Capital, P2 Ventures, Delta Fund and MH Ventures.
Miden’s design, which uses zero knowledge technology, is aimed at large institutions that need transaction confidentiality when executing large payment lots. For example, the protocol could be used for “every time Apple needed to pay a supplier, and people began to mess with the price of their public actions due to a misunderstanding of what is happening [on-chain]”Said Azeem Khan, co -founder of Miden, in an interview with Coindesk.
Khan shared that many of those great institutions and investors are telling the measure of measuring that they need some type of privacy solution that complies with the regulation, but does not commit to performance and decentralization.
Then, they measure, which should launch their main network by the end of the year, it works allowing institutions and applications to choose whether they want to execute transactions publicly or privately, trusting the network for rapid speeds and privacy.
“It is very different from most of the other block chains at the technical level, and it had to be different due to the type of cases of use and functionality that we want to enable,” said Bobbin Threadbare, another co -founder of Miden, to COINDESK. “I don’t think something like that is possible to build about Ethereum or Solana.”
They measured in polygon in 2021, and originally it was supposed to be a different type of scale solution for the ecosystem. The spin-off occurs when Polygon changed its efforts in its aglayer, already measure that the total blocked value of the protocol has decreased significantly since the launch of measure. Currently, $ 864 million are blocked within Polygon Networks, approximately 80% since the day they were announced at $ 4.4 billion, according to defillma data.
“Measure is how the future of Blockchains looks,” said Sandeep Nailwal, founder of Polygon Labs, in a press release shared with Coindesk. “With the edge execution in its nucleus, it is not just an update, it is the plan for the final form of blockchain architecture.”
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