BTC
by BSCN
March 26, 2024
Nubit boasts first-mover advantage in the Bitcoin DA sector and this fresh funding should serve to accelerate the project’s growth.
“This funding marks a pivotal step in Nubit's mission to build the first Bitcoin-native data availability layer, driving forward the evolution of the Bitcoin ecosystem”, reads a release
Nubit, which boasts the first ever data availability layer purpose built for the Bitcoin ecosystem, has just closed a $3 million funding round.The round features some of the very best institutional investors in the space, including but not limited to:
“Nubit is not just a project; it's the dawn of Bitcoin's new era. Our aim is to revolutionize Bitcoin’s infrastructure, ensuring scalability and security through our Bitcoin-native data availability layer”, said Yu Feng, co-founder of Nubit and a professor in computer science at UCSB
Nubit is, first and foremost, a data availability layer for projects building within BTC’s new and exciting ecosystem. The vast proportion of blockchain projects require external (or internal) data streams in order to run effectively, and Nubit aims to service precisely these projects.
According to the project itself, Nubit’s aim is to onboard ‘a vast community of developers into the Bitcoin ecosystem, empowering them with scalable, secure, and decentralized tools’.
“Nubit’s innovative approach, spearheaded by a team of academic experts, is set to fill this gap. With a foundation rooted in scholarly research and expertise, Nubit leverages Bitcoin's inherent security and decentralization to offer a new paradigm in blockchain infrastructure”, reads a release
The project has positioned itself as the Celestia ($TIA), which boasts a market cap of $2.5 billion at time of writing, of the burgeoning Bitcoin functionality ecosystem.
Nubit has already launched its own ‘Modular Indexer’, in collaboration with ‘Domo’ (the creator of BRC-20). It has also announced a precedent-setting partnership with leading Bitcoin layer-2, Merlin, which will leverage Nubit’s DA layer to build out its own ecosystem.
According to the release, Nubit is moving forward with its Pre-Alpha Testnet and plans to launch its official mainnet “later this year”.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
Latest News
4h : 33m ago
Binance Labs' New Investment: What is Perena?
7h : 18m ago
Arbitrum Foundation and Ubisoft Team Up to Launch Netflix Series-Inspired Web3 Shooter Game
8h : 48m ago
Brian Quintenz Emerges as Front-Runner for CFTC Chair Role Under Trump
December 11, 2024
Circle and Binance Form Strategic Partnership to Drive Global Adoption of USDC
December 11, 2024
Coinbase Institutional Integrates Chainlink into Project Diamond for Secure Tokenized Asset Management
December 11, 2024
Ripple's RLUSD Stablecoin Receives NYDFS Approval, Launch Imminent
December 10, 2024
Baby Doge Coin Hits All-Time High, Surpasses $1B Market Cap
December 10, 2024
Floki Launches Crypto Debit Card in 31 European Countries with Mastercard Partnership