CandleFocus Crypto startup Layer secures $6m to solve limitations of smart contracts
2024-10-07
Author: Content Editor
Blockchain infrastructure startup Layer has raised $6 million in a seed round to develop developer tools that support full-stack decentralized applications on the Ethereum network. The funding will be used to enhance the capabilities of Ethereum by creating developer tools that use Web Assembly to support complex decentralized applications. Layer's platform will allow developers to leverage off-chain computation, such as AI agents and decentralized messaging servers, to build more advanced applications that address the limitations of current smart contracts. The funding round was led by 1kx and included participation from Fabric Ventures, Arrington Capital, and Stake Capital Group, as well as angel investors. This comes as concerns about vulnerabilities in smart contracts continue to rise, with malicious actors exploiting them to deceive victims.
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