Blockchain infrastructure firm Layer secures $6 million to give developer tools for Ethereum full-stack decentralized applications.
Fabric Ventures, Arrington Capital, Stake Capital Group, and 1kx sponsored a $6 million seed round that was participated in by Layer, a blockchain infrastructure firm.
The company stated in a press release that it intends to use the money raised to produce developer tools that will enable Web Assembly-based full-stack decentralized applications, thus expanding Ethereum’s potential.
Layer, a blockchain startup founded by industry veterans Sam Cassatt, Jake Hartnell, and Ethan Frey, hopes to solve the shortcomings of existing smart contracts by empowering developers to create more intricate decentralized apps that rely on off-chain processing.
Applications will be able to integrate off-chain services like AI agents and decentralized message servers with blockchain security thanks to the Layer SDK. Sam Cassatt, co-founder of Layer:
We wanted to complete the full narrative arc of decentralized architecture, and give the world the tools necessary to build any application, with any performance requirements in this trust-minimized way.”
Layer gains backing to develop full-stack Ethereum SDK
Angel investors Sreeram Kannan of EigenLayer, Mike Silagadze of Ether.fi, and Paul Taylor, a former executive at BlackRock, also supported the investment round.
According to the team, their next release, dubbed the “Layer SDK,” will enable programmers to create additional Ethereum-based layers on top of which to run full-stack blockchain apps that include smart contracts, consensus techniques, user interface, and verified off-chain services.
The investment comes at a time when worries about smart contracts’ hidden weaknesses are growing because malicious actors are using them more frequently to entice victims.
The blockchain startup Trugard Labs’ analysts discovered more than 34,000 high-risk flaws in smart contracts that were implemented on Base in August by the end of September.
Though in lower amounts, hidden balance updates and minting manipulations were also found on BNB Chain (previously known as Binance Smart Chain, BSC) and Ethereum.
