VRRB Labs, a decentralised protocol that combines speed, scalability and decentralisation, has landed $1.4m in pre-seed funding.
Investors in the company included Jump Crypto, Big Brain Holdings and Taureon.
VRRB leverages a unique, proof-of-claim consensus algorithm to achieve unmatched speed and scale, both vertically and horizontally. Additionally, VRRB implements a novel approach to smart contract DevOps and execution.
The VRRB smart contract platform isolates each smart contract in its own containerised runtime. Each program deployed to the VRRB network contains its own micro virtual machine, built to the specification of the program in focus. This provides developers with the ultimate flexibility, enabling them to build composable smart contracts on a language agnostic platform.
The firm’s seed funding will enable the company to further scale its development and marketing teams and build out an educational program for developers interested in building on VRRB’s platform.
VRRB founder Andrew Smith said, “The crypto industry keeps asking where the next billion users will come from, but they’re putting the cart before the horse. Before mass adoption, we need more developers who can help design and deliver the next generation of apps.
“VRRB addresses two core headwinds that have suppressed developer community growth: a lack of scalability on decentralized platforms and a lagging Web3 developer experience. VRRB is designed to create a more flexible, composable, and simple developer experience with a ‘Build, Ship, Run’ framework. With the support of our incredible community, we look forward to unlocking the boundless potential of Web3 and blockchain technology.”
Coincover, a Cardiff-based digital asset protection provider, has scored $30m in a funding round headed by Foundation Capital.
Founded in 2018, Coincover is the first and only service to guarantee digital funds will not be lost or stolen.
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