Blockchain Startup O(1) Labs Secured $10.9 Million in Strategic Funding

 In GDI
O(1) Labs

O(1) Labs, a California based blockchain-based company, has now secured $10.9 million in strategic funding.

Executive Opinion

WangXi, Partner at Bixin Ventures, said, “Mina protocol creates the best way to optimize scalability and decentralization for the Web 3.0 by using zero knowledge proofs to condense the blockchain into a fixed size.”
Kyle Davies, Founder of Three Arrows Capital, said, “Mina presents an elegant, light-weight, layer-one blockchain solution to the cryptographic trilemma of decentralization, scale, and security. As daily blockchain users ourselves, we are particularly excited to support the Mina team and ecosystem.”

O(1) Labs’ Latest Funding

O(1) Labs is founded by Evan Shapiro in the year 2018. It develops Mina, a light blockchain-powered by participants. Mina uses advanced cryptography and recursive zk-SNARKs to design an entire blockchain that is and always will be about 22kb, the size of the couple tweets, according to the Mina Protocol website.

The round was backed by Bixin Ventures and Three Arrows Capital with participation from Signum Capital, NGC Ventures, IOSG Ventures, Hashkey Capital, SNZ, and Fenbushi Capital.

PC:  Pixabay

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