Nibiru Chain Levels Up with $12M Blockchain Boost to accelerate development and cement its position as the premier general purpose L1 for blazing speed, robust security and ease of building next-gen decentralized applications.
The general-purpose layer 1 blockchain Nibiru Chain has successfully raised $12 million in its most recent financing round to support its ambitious growth goals. Prominent venture capital firms such as Banter Capital, Master Ventures, NGC Ventures, Kraken Ventures, and ArkStream invested in the funding round.
However, what precisely is Nibiru Chain and this trending blockchain technology captivating investors?
In short, a blockchain is a distributed, decentralized digital ledger that permanently and verifiably records commercial transactions. In contrast to conventional databases that are managed centrally, blockchain networks are updated through cryptographic proof and community consensus. Because of this, tampering is nearly impossible.
Blockchain technology gained popularity thanks to cryptocurrencies like Ethereum and Bitcoin.
A digital asset, or cryptocurrency, is defined by EverFi as a non-physical asset that only exists digitally. Cryptocurrencies generate new units (mine) and protect and verify transactions using encryption or cryptography. They decentralize control by functioning independently of governments and banks.
The combined market value of Sperax and more than 16,000 other cryptocurrencies is currently more than USD 1 trillion. However, blockchain technology has many more potential uses outside of banking. Blockchain is being used by various industries, including supply chain and healthcare, to improve efficiency, transparency, provenance tracking, and other features.
What is the Nibiru Chain?
To optimize for developers, it blends cutting-edge blockchain technology with cutting-edge research.
In what precise way? By offering native Oracle (data feed), simple APIs, SDKs, and built-in toolkits. With a throughput of 40,000 transactions per second, Nibiru can handle a wide range of real-world use cases, including those in gaming, NFTs, DeFi, tokenized assets, governance, identification, and authentication, as well as any application that needs dependability, audibility, and transparency for value exchange and digital interactions.
Regarding security, Nibiru eliminates the possibility of 51% assaults that plague proof-of-work chains by utilizing the proof-of-stake consensus with the threshold signature method EdDSA (Edwards-curve Digital Signature Algorithm).
On Nibiru, all data is hashed into an unchangeable chain. According to EverFi, public key cryptography—as opposed to real names—protects user identities. Ownership and transactions are verified via keys and signatures.
Nibiru is getting a lot of traction because of its scalability, developer support, and institutional-grade performance—initial offerings in a recent community token sale sold out in minutes. Nibiru is starting to become the premier blockchain platform for cutting-edge applications. And the additional $12 million in funding will significantly boost that growth.
The backers driving this round demonstrate how much they believe in Nibiru’s roadmap and model:
- Kraken Ventures
Crypto venture arm of top exchange Kraken, founded by crypto billionaire Jesse Powell
- ArkStream Capital
Crypto & blockchain focused fund based in Chicago, co-founded by Jin Tu (former Goldman Sachs)
- NGC Ventures
Venture capital arm of NFG, one of the largest crypto hedge funds
- Tribe Capital
Backed major chains like Solana, co-founded by early Coinbase employee Arjun Sethi
- Banter Capital
Investment group behind popular Crypto Banter Youtube channel
These VCs offer more services than just funding. Nibiru will be able to hire top personnel, establish strategic relationships and stake nodes, integrate with DeFi protocols and exchanges, and promote community development to increase utilization with the help of their networks and experience.
“We are channeling this new support to scale our team globally, bolster mainstream adoption solutions, and prove Nibiru as the unrivaled connected economy engine,” said Richard Wang, co-founder of Nibiru, in a brief statement.
As a result, even as Nibiru moves into a new stage of rapid expansion, they have remained committed to its mission of creating open infrastructure for the community by the community. Upcoming token offerings will allow regular investors to keep participating in the gain.
According to NFT alpha group X2Y2, blockchain is still in its infancy. The leadership of Nibiru shares this sentiment, which is why they are building a modular architecture to accommodate new token standards and integrations.
A study from Upwork says that blockchain is the skill that is growing the fastest in the freelance job market, with a growth rate of 6,000% year-over-year. Thus, we anticipate that there will be plenty of seats on Nibiru’s rocket ship!
This look at Nibiru Chain demonstrates how investors respect ground-breaking technology and the ability and track record to translate whitepaper concepts into workable solutions. While there are still concerns in cryptocurrency, chains like Nibiru—the blockchain of blockchains—feel destined to become the foundation of digital economies. Furthermore, $12 million is only a small start-up capital for goals far more significant than any one chain, currency, or business.
