In the recent news, RISC Zero, the architect of solutions that augment developers in fabricating zero-proof software has had an injection of $40 million in a Series A funding. The key investor driving the round is the crypto-savvy investment firm Blockchain Capital. The purpose of funds is rather forward-thinking: to accelerate the emergence of RISC Zero’s innovative Bonsai computing platform into the market.
Other investors joining the fiscal dance comprise Galaxy Digital, IOSG, RockawayX, Maven 11, Fenbushi Capital, Delphi Digital, Algaé Ventures, IOBC, Tribute Labs’ Zero Dao, and Alchemy. This event is an indisputable testament to the relentless financial attraction of infrastructure projects, even in the chilling duration of an extended crypto winter.
The zero-knowledge proof concept relies on cryptography to prove transactions mathematically while keeping the transaction details under wraps. In March 2022, we saw RISC Zero unveil an open-source, zero-knowledge virtual machine (zkVM). This development allowed developers to generate zk proofs, appliable on any computer using standard traditional or blockchain-focused programming languages.
To paint a clearer picture of the Bonsai computing platform, it is a decentralized proving engine that renders a pathway for developers to easily incorporate zk proofs into their applications and chains. This integration results in a significant uplift in security as well as in complex computations.
One might question whether this new technology complicates development. But as per RISC Zero CEO Brian Retford, the opposite seems to be the case. Developers who are rookies in the crypto world, will find RISC Zero’s technology surprisingly intuitive. The technology does not overturn their normal way of working as it allows them to develop applications with tools and languages they have mastered. In addition, it gives them greater freedom with the complexity of the code. This recent fundraising is not RISC Zero’s first touch with venture capital. They raised $12 million in a seed funding round led by Bain Capital in August 2022.
Source: Coindesk
