Brevis has raised $7.5 million from venture capital investors to promote off-chain verifiable computation throughout the blockchain ecosystem.
Brevis announced on November 11 that it had raised $7.5 million in a seed round funded by Binance Labs and Polychain Capital.
Brevis, a company that helps blockchains grow without experiencing liquidity or state fragmentation, intends to use the additional funds to grow its R&D staff.
The R&D team wants to enhance the platform’s decentralized prover network and construct and include key elements of off-chain verifiable computing.
The blog post explains that the objective is to hasten the adoption of the platform’s zero-knowledge data coprocessor.
Using Brevis’s programmable software development kit, the ZK Coprocessor enables smart contracts to access and process on-chain data, including transactions and statuses.
In order to grow blockchains like Ethereum, the technology enables developers to create data-driven decentralized apps.
Developers can take advantage of this potential using Brevis without worrying about the underlying cryptographic and mathematical complexities.
Brevis allows dApps to lower expenses by shifting expensive and complicated calculations to an off-chain network.
The network produces the computation’s ZK proof and is confirmed on-chain at a low cost. Olaf Carlson-Wee from Polychain:
At Polychain, we’re committed to supporting projects that push the limits of blockchain infrastructure, and Brevis stands out with its innovative use of ZK Proofs to bring complex, data-driven computation to smart contracts in a trust-free way.”
Kwenta, PancakeSwap, Frax, Celer, Jojo Exchange, and Mask Network are among the platforms and protocols that have either integrated Brevis-powered functionality or are considering doing so.
IOSG, Nomad Capital, HashKey, Bankless Ventures, Polychain Capital, and Binance Labs back Brevis. A number of angel investors were also drawn to the round.
