Sovereign Labs is a new data encryption project focused on building aggregation, and has raised $7.4 million in seed funds.
This round is led by Haun Ventures, with Maven 11, 1KX, Robot Ventures and Plaintext Capital participating. According to a spokesman for the project, this financing makes the company's valuation within the "eight figures" range. Sovereign Labs declined to disclose its accurate company valuation.
Sovereign Labs has built a software development kit (SDK) to make it easier for developers to build interoperable zero-knowledge summaries. Convergence is always a specially planned blockchain, which obtains some safety factors from another blockchain, and then completes scalability without giving up the safety factors.
A new Sovereign SDK is designed to be interoperable and scalable, and can be seamlessly spliced and deployed on all tier 1 blockchains.
The co-founder and CEO of Sovereign Labs, Em Ozer, said: "In fact, we are completely unknown about the blockchain involved in our summary." He added that the summary built by applying Sovereign SDK will be compatible with all the tier 1 blockchains.
The summary supported by zero-knowledge (zk) verification uses a cryptographic algorithm that can prove the effectiveness of sentences without revealing the underlying information content. Recently, this popular industry has also attracted a large number of venture capital, and has even become a key component of new data encryption projects such as zkSync, Starnet, Zcash and Mina.
Preston Evans, the co-founder and technical director of the enterprise, said in a statement: "Historically, only a few cryptographic algorithm doctors can carry out zero-knowledge engineering construction.". "At Sovereign Labs, we are building special tools that can be used by ordinary developers."
Ozer and Evans added that Sovereign Labs did not release a token plan, and added that they were "100% focused" on building the SDK architecture.
"From their point of view, other software (such as subnet mask or wireless bridge) has lost the core feature of blockchain, that is, final user authentication," Ozer said. "If we lose that point, we might as well build this system software on [Amazon Platform Internet Service]."
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