Othentic Raises $4M Funding From Breyer Capital To Advance Development Of Modular Networks In Shared Security Environment
In Brief
The project focused on shared security within distributed systems, Othentic has closed a $4 million seed round of financing.
Project focused on shared security within distributed systems, Othentic, announced it raised $4 million in a seed funding round, led by venture capital firms Finality Capital Partners and Breyer Capital, accompanied by contributions from Coinbase Ventures, HashKey Capital, Collider Ventures, BanklessVC, Robot Ventures, Everstake, PUNK DAO, alongside numerous angel investors. The injection of new funding will enable the firm to bolster its development initiatives.
Othentic aims to facilitate the development of distributed computation services by offering a self-deploy infrastructure to spin up systems with shared security. The Othentic Stack manages and simplifies this shared security framework, enabling AVS developers to self-deploy customized computational services within trustless execution environments. Additionally, it facilitates the creation of a network of Operators capable of running arbitrary compute tasks.
An AVS, or Autonomous Verification System, encompasses any system that necessitates its unique distributed validation semantics for verification purposes. It includes sidechains, data availability layers, novel virtual machines, keeper networks, oracle networks, bridges, threshold cryptography schemes, and trusted execution environments.
Furthermore, Othentic emphasizes that the Othentic Stack is an evolving system. As development progresses, new modules will be incorporated, providing developers with additional options to plug in and configure.
Framework For Stateless Rollups: Pioneering Decentralized Compute Scalability
The project works on a framework for stateless rollups, representing a promising approach to decentralized compute scalability as it offers a flexible and secure environment for conducting off-chain computations. Stateless rollups function as computing networks that deliver services to various blockchains or applications, independent of constraints imposed by any particular chain. This framework enables the development of co-processors, zero-knowledge (ZK) provers, privacy-focused computations, decentralized order books, AI inference networks, and systems for the prevention of security breaches, among other services.
Using a library of pre-built elements designed for production, AVS developers can concentrate on their main services, reduce the need for extensive engineering work, and hide the complexities of low-level implementations and potentially problematic infrastructure details.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
More articles
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
