Ethereum scaling solution ZKM has raised $5 million in an early-stage funding round as it prepares to launch its Bitcoin-based Layer 2 network.
ZKM secured the investment in a Pre-Series A funding round led by OKX Ventures, with participation from Amber, Metis Foundation, Crypto.com and other firms, ZKM said Monday in a statement.
ZKM is a zero-knowledge proof-based network that aims to unify blockchains, creating a settlement layer on Ethereum. As part of those efforts, ZKM is developing a network of special transaction processors called “entangled rollups,” starting with its soon-to-be-launched Layer 2 that the project says is built on the Bitcoin blockchain.
