SINGAPORE, Aug. 6, 2024
/PRNewswire/ -- HTX Ventures, the global investment arm
of the cryptocurrency exchange HTX, has announced a
strategic investment in Nexio. Nexio is an innovative
Bitcoin scaling solution that employs parallelized ZK
Rollup with MoveVM.
Powered by MoveVM, Nexio's parallelized Bitcoin
rollup supports over 30,000 transactions per second while
maintaining gas fees below $0.01,
making it ideal for high-frequency applications. This technology
addresses critical challenges in the Bitcoin
ecosystem, including slow transaction times, high gas fees, and
inadequate tooling that have hindered mass adoption.
Nexio has recently raised $2.2
million in pre-seed funding led by Lattice Fund, with
participation from HTX Ventures. Aiming to revolutionize
Bitcoin's scalability and usability, this funding will
enable Nexio to accelerate the development and adoption of its
parallelized Bitcoin rollup technology. Nexio is
establishing new norms in blockchain technology under the
leadership of co-founders skilled in Bitcoin zkVM
Rollup development.
Nexio's technology combines a zk-Rollup, Multi-Party Computation
(MPC) Threshold Signature Scheme, and the Fractal interpreter to
set new benchmarks in speed, security, and interoperability. By
utilizing MPC Threshold Signatures, Nexio prevents single points of
failure, offering robust, decentralized transaction
validation that is more secure than traditional multisig
approaches.
"Nexio's innovative Bitcoin scaling solution is
designed to enhance Bitcoin's capabilities and bridge
the gap between different blockchain ecosystems. It seamlessly
integrates applications and liquidity from Move, Cosmos, and any
EVM-compatible ecosystems into Bitcoin," said Edward,
Managing Partner at HTX Ventures. "Nexio also offers highly
competitive low gas fees while providing a high TPS infrastructure.
HTX Ventures is excited to support Nexio in unlocking a new era of
innovation and adoption within the Bitcoin ecosystem,
facilitating the growth of complex DeFi applications,
gaming platforms, NFT marketplaces, and infrastructure projects on
its platform."
"Nexio's vision is to unlock Bitcoin's full
potential by providing scalable, secure, and cost-effective
infrastructure," said Charlie
Gordon, co-founder of Nexio. Through its partnership with
Movement Labs, Nexio has built a framework that combines horizontal
interoperability through high-throughput modular Move Virtual
Machines with vertical composability. This integration enables
developers to build with Aptos move, Sui move, and Solidity,
ensuring robust cross-chain functionality and seamless asset
movement across platforms.
Nexio aims to achieve several key milestones in the next 6-12
months, including the rollout of a permissionless testnet and the
subsequent launch of their mainnet solution. These developments
will mark significant steps toward revolutionizing the
Bitcoin ecosystem with enhanced scalability, security,
and interoperability.
About Nexio
Nexio is revolutionizing Bitcoin scalability
through a parallelized Bitcoin rollup. The team is
building a suite of products and services that empower developers
to leverage the power of Bitcoin for complex
DeFi applications, gaming platforms, NFT marketplaces,
and infrastructure projects without compromising on security or
efficiency. Nexio's technology supports over 30,000 transactions
per second with ultra-low gas fees, making it ideal for
high-frequency applications. Led by co-founders with significant
expertise in Bitcoin zkVM rollup development, Nexio is
setting new standards in blockchain technology.
For more information, follow on X @buildnexio and on
Discord
About HTX Ventures
HTX Ventures, the global investment division of HTX, integrates
investment, incubation, and research to identify the best and
brightest teams worldwide. With more than decade-long history as an
industry pioneer, HTX Ventures excels at identifying cutting-edge
technologies and emerging business models within the sector. To
foster growth within the blockchain ecosystem, we provide
comprehensive support to projects, including financing, resources,
and strategic advice.
HTX Ventures currently backs over 300 projects spanning multiple
blockchain sectors, with select high-quality initiatives already
trading on the HTX exchange. Furthermore, as one of the most active
FOF (Fund of Funds) funds, HTX Ventures invests in 30 top global
funds and collaborates with leading blockchain funds such as
Polychain, Dragonfly, Bankless, Gitcoin, Figment, Nomad, Animoca,
and Hack VC to jointly build a blockchain ecosystem. Visit us
here.
Feel free to contact us for investment and collaboration at
VC@htx-inc.com
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