Zulu Network Raises $3 Million

user avatar

by Giorgi Kostiuk

3 years ago

Made with AI

Zulu Network secured $3 million in funding during the pre-seed round to transform Bitcoin Layer 2. This platform, known as the Zulu Network, is the first of its kind offering EVM and UTXO support for Bitcoin Layer 2.

The investment round saw participation from various entities such as Cryptogram Venture (CGV), D11 Labs, Web3.com Ventures, and more.

Zulu Network - An Innovative Approach

Zulu Network stands out in the realm of Bitcoin Layer 2 solutions with its unique two-tiered architecture. By supporting both EVM and UTXO, Zulu Network is causing a significant shift in the Bitcoin ecosystem.

Pioneering Architecture by Zulu Network

With its dual-layer architecture on Bitcoin, Zulu Network innovates by incorporating L2 and L3 elements.

ZuluPrime (EVM) - A platform compatible with EVM, ZuluPrime aims to establish a new Bitcoin DeFi ecosystem through smart contracts and decentralized applications (dApps).

ZuluNexus (UTXO) - Operating as an L3 platform, ZuluNexus merges UTXO scalability with a focus on advancing Bitcoin's original ecosystem and native assets.

Creating Decentralized Bitcoin Infrastructure

Zulu Network is currently in the process of building decentralized Bitcoin bridges, connecting all Bitcoin Layer 2s with the broader cryptocurrency ecosystem. This initiative enables native Bitcoin assets to engage with advanced DeFi applications and financial services, preserving the security and functionality of the Bitcoin Network.

New Bitcoin Era with Zulu Network

This funding marks the beginning of a transformative period for Bitcoin DeFi and opens up new possibilities for Bitcoin native assets in the cryptocurrency sector.

Zulu Network intends to focus on key areas such as enhancing the dual-layer architecture, advancing decentralized Bitcoin bridges, expanding the ecosystem, and investing in research and development to elevate Bitcoin's capabilities within the Zulu architecture.

With its Decentralized Bitcoin Bridge, Zulu Network is bridging Bitcoin Layer 2 ecosystems to the Bitcoin Network, driving innovation in the Bitcoin Economy.

The Zulu Network Tesnet LWAZI is currently operational.

Resources

For more information on Zulu Network, visit the official website.

Inquiries

For anyone seeking further information or articles, make a request via the provided resources.

Tags: Bitcoin, DeFi, Zulu Network

Source: https://thebittimes.com/zulu-network-raised-3-million-tbt84659.html

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Payward to Acquire Saldo Bank for European Banking Expansion

Payward, the parent company of Kraken, plans to acquire Lithuania-based Saldo Bank to enhance its banking capabilities and integrate banking products with crypto services.

user avatarMaria Fernandez

Germany's Sparkassen Group Begins Cryptocurrency Trading Rollout

Germany's Sparkassen savings bank group is starting a phased rollout of cryptocurrency trading within its existing banking app, beginning on October 19, 2023.

user avatarGustavo Mendoza

CME Group to Launch Bitcoin Cash and Uniswap Futures on October 19

CME Group has scheduled the introduction of Bitcoin Cash and Uniswap futures for October 19, providing institutional traders with more cryptocurrency markets.

user avatarRajesh Kumar

Ethereum's Glamsterdam Upgrade Scheduled for Hoodi Test Network

Ethereum's next major upgrade, Glamsterdam, is set to activate on the Hoodi test network on October 26, marking a significant step in testing changes to block production and execution costs.

user avatarMiguel Rodriguez

International Crackdown on West African Scam Networks Results in 28 Arrests

An international effort against West African scam networks has led to 28 arrests and the removal of over 37 million accounts linked to fraudulent activity.

user avatarLuis Flores

Stablecoin Payment Transactions Surge Despite Flat Supply

A new report reveals a significant increase in stablecoin payment transactions, contrasting with stagnant supply levels.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.