Citrea is the first rollup that enhances the capabilities of Bitcoin blockspace with zero knowledge technology, enabling developers to build everything on Bitcoin.in seed funding, led by Galaxy, with the participation from notable investors such as Delphi Ventures, Eric Wall , Anurag Arjun , BatuX , Igor Barinov , and James Parillo among others. The round was closed in late 2023.
Citrea is the first rollup that enhances the capabilities of Bitcoin blockspace with zero-knowledge technology. Every transaction occurring on Citrea is fully secured by zero-knowledge proofs and optimistically verified on Bitcoin. This unique construction gives Citrea the following features;“For the first time in the Bitcoin scalability landscape, Bitcoin serves as both a data availability and settlement layer.” said, CEO of Chainway Labs, the company building Citrea.
Citrea’s journey roots back to 2023 starting with the ZK experiments on Bitcoin by Chainway Labs. Since then, Citrea evolved to a much larger vision of establishing Bitcoin as the foundation for world’s finance. “Bitcoin has largely been understood as a monetary phenomenon to date, with some exceptions in its early history. However, it is also one of the most powerful economic and computation platforms in existence. Chainway’s development of the Citrea ZK Rollup should be an exciting next stage in extending the functionality of Bitcoin as a platform.” said Will Nuelle, General Partner of Galaxy’s Venture arm.
Source: Digital Coin News (digitalcoinnews.net)