Pi Squared Raises $12.5M to Build a ‘Universal Settlement Layer’ for Blockchain Transactions
Fast take:
- Polychain Capital led the spherical with participation from ABCDE, Bloccelerate, Generative Ventures, Robotic Ventures and Samsung Subsequent.
- Ethereum Basis’s Justin Drake and EigenLayer founder Sreeram Kanaan additionally joined as angel buyers.
- Pi Squared is creating a know-how suite that permits verifiable computing with zero-knowledge proofs.
Pi Squared a Web3 startup led by the College of Illinois Urbana-Champaign laptop science professor, Grigore Rosu has raised $12.5 million in a seed spherical led by Polychain Capital.
The fundraising additionally attracted participation from ABCDE, Bloccelerate, Generative Ventures, Robotic Ventures and Samsung Subsequent, with Justin Drake of Ethereum Basis and EigenLayer founder Sreeram Kanaan becoming a member of as angel buyers.
Pi Squared is utilizing zero-knowledge know-how to construct merchandise for what it calls “trustless distant computing”. Its first product dubbed a ‘Common Settlement Layer’ allows the settlement of blockchain transactions “claims” in any programming language, Rosu advised CoinDesk.
In a nutshell, Grigore is constructing what he calls a “Common ZK Circuit”. The product can be used to allow ‘trustless distant computing’ in AI and interoperable good contracts for any decentralised utility or blockchain, in keeping with info on the corporate’s web site. Rosu mentioned in a press launch on Tuesday that he did the analysis over a few years together with his college students.
In response to Pi Squared, the know-how creates a common and disarmingly small ZK circuit that checks the integrity of mathematical proofs, which offer verifiable-computing correctness ensures to all languages and digital machines (VMs) alike straight from their formal semantics, with none translation to a standard language, VM or instruction set structure (ISA).”
Designed for builders, Pi Squared remains to be in its proof-of-concept section however Rosu’s objective is to have the mission in testnet by the tip of the 12 months.
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