The Bitcoin protocol Surge has raised $1.8 million to address scalability issues and advance the BTCfi economy.
Surge Investments for Bitcoin Enhancement
Bitcoin-centric protocol startup Surge has raised $1.8 million in pre-seed funding. The project aims to unlock Bitcoin's full potential as a global currency and a foundational layer for innovation. Supporters include Autonomy, Gerstenbrot Capital, Double Peak Group, and angel investors like CoinGecko co-founders Bobby Ong and TM Lee.
MetaLayer and New Technologies
Surge's approach, called the MetaLayer, utilizes Bitcoin's security model without requiring soft or hard forks, incorporating cryptographic techniques such as zero-knowledge proofs and inter-blockchain communication. This aims to address the limitations of previous scalability solutions.
Surge's Future Plans
Surge has partnered with Movement Labs to bring liquidity to Move-based decentralized finance. The funding will support the startup in providing scaling infrastructure, enabling teams to focus on specific use cases like defi, micropayments, gaming, or non-financial applications. Surge plans to launch its testnet soon, with specific timelines yet to be disclosed.
Surge has secured funding to tackle Bitcoin's scalability issues, intending to use the investment to develop DeFi and other applications on its platform.
