BOLT Labs to Raise $1.5M

BOLT Labs is a developer of ZCash off-chain solutions and raised funds to develop privacy-oriented solutions in second-layer protocols
18 April 2019   488

Startup BOLT Labs successfully closed a seed round of financing led by Dekrypt Capital and raised $ 1.5 million to develop privacy-oriented solutions in second-layer protocols like the Lightning Network.

The venture unit of Ripple (Xpring), Zcash Foundation, Lemniscap, Access Ventures, Kilowatt Capital and business angel Branson Bollinger also took part in the round.

Computer Science Ph. D. Ayo Akinele, the founder of BOLT Labs, intends to use the tools to create a fast, private and secure network of payment channels. As planned by Akiniele, the new protocol will be scalable and compatible with any cryptocurrency networks and solutions of the second layer.

For the first time, the BOLT technology was presented in a document published in 2016 by Matthew Green and Ian Myers, the founders of the Electric Coin Company. The main task was to create a scalable solution of the second layer, in which the complete privacy of users is activated by default.

Note, the concept of the future product BOLT Labs for the network ZCash should appear in the summer of 2019.

1st Alternative Zcash Client to be Created by Parity

The responsibility for the continued development and support of the new client called Zebra will be with the Zcash Foundation
18 June 2019   126

The leading developer of solutions for the Ethereum ecosystem, Parity Technologies, presented the first alternative client for cryptocurrency Zcash.

A new client called Zebra is designed to improve the security of the Zcash network. So, if the original Zcashd client will not be able to operate for some reason, the blockchain will be supported by nodes on Zebra.

In addition, with the help of an alternative client, developers will be able to identify bugs and eliminate defects in consensus.

The community wins across the board, as there are now more core developers working on clients, with more interests represented and clients taking different approaches on how to build apps on top. Zcash can now boast a more diversified community that can effectively tailor experiences for Layer 2 developers as well as end-users.
 

Fredrik Harryson
CTO, Parity Technologies

The responsibility for the continued development and support of the Zebra will be with the Zcash Foundation.