ZenChain Raises $85 Million for EVM-Compatible Bitcoin Layer 1

ZenChain Raises $85 Million for EVM-Compatible Bitcoin Layer 1

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by Son Min-ho

8 months ago

Made with AI

ZenChain has made headlines by securing $85 million in a recent funding round, which remains undisclosed. This significant investment is set to propel the development of its innovative EVM-compatible Bitcoin Layer 1 solution, and the publication demonstrates positive momentum in the developments.

Funding Round Participation

The funding round saw participation from notable investors including:

  • Watermelon
  • DWF Labs
  • Genesis Capital

This backing not only provides ZenChain with the necessary capital to advance its technology but also reinforces its standing in the competitive cryptocurrency landscape.

ZenChain's Strategic Focus

ZenChain's focus on creating an EVM-compatible solution aims to bridge the gap between Bitcoin and Ethereum ecosystems, potentially attracting a wider range of developers and users. As the cryptocurrency market continues to evolve, this strategic move positions ZenChain as a key player in the ongoing innovation within the blockchain space.

On January 9, Supra Oracles launched its decentralized oracle network and Layer 1 blockchain, enhancing smart contract functionality with the SUPRA token. This development contrasts with ZenChain's recent funding success aimed at bridging Bitcoin and Ethereum ecosystems. For more details, see more.

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