Quick take:
- The fundraising also attracted participation from Finality Capital Partners, Symbolic Capital, P2 Ventures, Delta Fund, and MH Ventures.
- Miden leverages zero-knowledge technology to provide the confidentiality that large institutions require when executing large payment batches.
- Miden was incubated in Polygon in 2021 and plans to launch its main network by the end of the year.
Miden, a privacy-focused institutional grade protocol has secured $25 million in seed funding led by A16z crypto, 1kx and Hack VC. The fundraising also attracted participation from Finality Capital Partners, Symbolic Capital, P2 Ventures, Delta Fund, and MH Ventures.
The company plans to use the fresh capital to accelerate its roadmap including expanding its ecosystem and building more developer tools.
Miden leverages zero-knowledge technology to provide the confidentiality that large institutions require when executing large payment batches. The company was incubated in Polygon in 2021 and plans to launch its main network by the end of the year.
According to the Miden co-founder Azeem Khan large institutions and investors are telling the Miden team that they need a kind of privacy solution that complies with regulatory requirements without compromising on performance and decentralisation.
Miden’s privacy solution allows institutions and applications to choose whether to execute transactions in a public or private fashion at scale.
Bobbin Threadbare, another co-founder of Miden told CoinDesk: “It’s very different from most other blockchains on a technical level, and it had to be different because of the type of use cases and functionality we want to enable. I don’t think something like this is possible to build on top of Ethereum or Solana.”
Sandeep Nailwal, the founder of Polygon Labs described Miden in a press release as “what the future of blockchains looks like.”
“With edge execution at its core, it’s not just an upgrade — it’s the blueprint for the final form of blockchain architecture.”
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