Citrea Raised $2.7M Seed Round to Launch Bitcoin’s First ZK Rollup
Citrea is working on "the first rollup that enhances the capabilities of Bitcoin blockspace with zero-knowledge technology, making it possible to build everything on Bitcoin." This requires no changes to the network's consensus rules.
- "We’re proud to announce that Chainway Labs, the company building Citrea, has raised $2.7 million in seed funding to develop Bitcoin’s First ZK Rollup," announced the company.
"The round closed in 2023 and was led by Galaxy, with participation from investors including Delphi Ventures, Eric Wall, Anurag Arjun, BatuX, Igor Barinov, and James Parillo, among others."
- "This funding round will enable Chainway Labs to bring Citrea to the market. With Citrea, developers can now build anything on Bitcoin, and users can enjoy Bitcoin security at scale," was stated in the announcement.
- Citrea has not launched yet, but its team plans to release a test network sometime next quarter.
"We're hearing things like Citrea is better than Ethereum. It'll be better with time, because there's like $1 trillion, as of now, sitting in the Bitcoin blockchain. It is the most secure, battle-tested and decentralized blockchain. And we are bringing decentralized finance to it," Chainway Labs co-founder Orkun Mahir Kılıç told CoinDesk.
