The seed round of $22.4 million has been secured by Nomad, the leader in crypto industry interoperability protocols.
The round was led by Polychain, a crypto investment firm. Crypto.com Capital, Wintermute, Gnosis, Algaé and Polygon participated. OpenSea and Coinbase Ventures are also new participants.
This funding round will be used for Nomad’s expansion to other blockchains. It creates a secure cross-chain encryption ecosystem where different blockchains can communicate more securely, cost-effectively, and avoid hackers. attack Axie infinity’s Ronin network for March.
Anurag Arjun is the co-founder at Polygon.Nomad’s trust-minimized protocol allows for cross-chain messaging. There are numerous potential applications that go beyond token bridging. We look forward to seeing some exciting new use cases come to life on-chain.”
Nomad, a cross-chain communication protocol, uses an Optimistic Fraud-proof mechanism to protect network security. Optimistic verification lets observers challenge messages using on-chain fraud proofs, without having to rely on validators or custodians.
Cross-Chain Bridge Nomad currently boasts more than 14,000 users, and has processed transactions totalling $700,000,000
Nomad supports cross-chain operations on Ethereum mainnet, Moonbeam, Evmos, and Avalanche Blockchains. This allows developers to build cross-chain apps (or xApps), such as token bridges and native cross-chain assets.
Source: Shutterstock
