Monday, July 15, 2024

    Opside secures $4M seed round to expand its ZK-rollup-as-a-service platform

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    Opside, a cutting-edge three-layer infrastructure platform providing ZK-RaaS (ZK-rollup-as-a-service), has recently closed a successful $4 million fundraising seed round. The funding was led by Ventures, with participation from other notable investors in the crypto industry, highlighting the growing interest in this innovative solution.

    Opside has developed a general-purpose ZK-rollups software development kit that empowers developers to deploy their applications on Opside layer 3 without the need to maintain any infrastructure. Opside takes care of consensus and data availability on layer 2, ensuring that all transactions and generated data are hashed and stored on the layer 2 Opside chain. This breakthrough approach opens up a world of new possibilities for on-chain applications, such as games and social networks, which require faster transaction processing and lower fees.

    The seed round funding will be used to accelerate Opside’s development, expand its team and scale its operations to meet the increasing demand for its services. Opside is set to focus on ZK-RaaS, and proof-of-stake (PoS) and proof-of-work (PoW) consensus, assisting applications and users with a better experience — filling a gap in the market underserved by existing ZK-RaaS solutions.

    Nanfeng, Opside’s co-founder and CEO, said: “We’re thrilled to have Ventures and other top investors supporting our mission of making ZK accessible to applications of all sizes and general users. This funding will enable us to continue innovating and developing our platform while expanding our team and customer base.”

    Opside’s innovative approach to ZK-RaaS and PoS and PoW consensus has already drawn significant attention in the industry. This seed round funding will enable the company to further establish its position as a leading platform in the space. As more businesses seek to optimize their applications and increase efficiency, Opside is well-positioned to become the go-to platform for applications looking to leverage zero-knowledge technology, and attract users who demand speed, security and fun.

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