SINGAPORE, Aug. 6, 2024 /PRNewswire/ -- HTX
Ventures, the global investment arm of the cryptocurrency exchange
HTX, has announced a strategic investment in Nexio. Nexio is an
innovative Bitcoin scaling solution that employs parallelized ZK
Rollup with MoveVM.
Powered by MoveVM, Nexio's parallelized Bitcoin rollup supports
over 30,000 transactions per second while maintaining gas fees
below $0.01, making it ideal for
high-frequency applications. This technology addresses critical
challenges in the Bitcoin ecosystem, including slow transaction
times, high gas fees, and inadequate tooling that have hindered
mass adoption.
Nexio has recently raised $2.2
million in pre-seed funding led by Lattice Fund, with
participation from HTX Ventures. Aiming to revolutionize Bitcoin's
scalability and usability, this funding will enable Nexio to
accelerate the development and adoption of its parallelized Bitcoin
rollup technology. Nexio is establishing new norms in blockchain
technology under the leadership of co-founders skilled in Bitcoin
zkVM Rollup development.
Nexio's technology combines a zk-Rollup, Multi-Party Computation
(MPC) Threshold Signature Scheme, and the Fractal interpreter to
set new benchmarks in speed, security, and interoperability. By
utilizing MPC Threshold Signatures, Nexio prevents single points of
failure, offering robust, decentralized transaction validation that
is more secure than traditional multisig approaches.
"Nexio's innovative Bitcoin scaling solution is designed to
enhance Bitcoin's capabilities and bridge the gap between different
blockchain ecosystems. It seamlessly integrates applications and
liquidity from Move, Cosmos, and any EVM-compatible ecosystems into
Bitcoin," said Edward, Managing Partner at HTX Ventures. "Nexio
also offers highly competitive low gas fees while providing a high
TPS infrastructure. HTX Ventures is excited to support Nexio in
unlocking a new era of innovation and adoption within the Bitcoin
ecosystem, facilitating the growth of complex DeFi applications,
gaming platforms, NFT marketplaces, and infrastructure projects on
its platform."
"Nexio's vision is to unlock Bitcoin's full potential by
providing scalable, secure, and cost-effective infrastructure,"
said Charlie Gordon, co-founder of
Nexio. Through its partnership with Movement Labs, Nexio has built
a framework that combines horizontal interoperability through
high-throughput modular Move Virtual Machines with vertical
composability. This integration enables developers to build with
Aptos move, Sui move, and Solidity, ensuring robust cross-chain
functionality and seamless asset movement across platforms.
Nexio aims to achieve several key milestones in the next 6-12
months, including the rollout of a permissionless testnet and the
subsequent launch of their mainnet solution. These developments
will mark significant steps toward revolutionizing the Bitcoin
ecosystem with enhanced scalability, security, and
interoperability.
About Nexio
Nexio is revolutionizing Bitcoin scalability through a
parallelized Bitcoin rollup. The team is building a suite of
products and services that empower developers to leverage the power
of Bitcoin for complex DeFi applications, gaming platforms, NFT
marketplaces, and infrastructure projects without compromising on
security or efficiency. Nexio's technology supports over 30,000
transactions per second with ultra-low gas fees, making it ideal
for high-frequency applications. Led by co-founders with
significant expertise in Bitcoin zkVM rollup development, Nexio is
setting new standards in blockchain technology.
For more information, follow on X @buildnexio and on
Discord
About HTX Ventures
HTX Ventures, the global investment division of HTX, integrates
investment, incubation, and research to identify the best and
brightest teams worldwide. With more than decade-long history as an
industry pioneer, HTX Ventures excels at identifying cutting-edge
technologies and emerging business models within the sector. To
foster growth within the blockchain ecosystem, we provide
comprehensive support to projects, including financing, resources,
and strategic advice.
HTX Ventures currently backs over 300 projects spanning multiple
blockchain sectors, with select high-quality initiatives already
trading on the HTX exchange. Furthermore, as one of the most active
FOF (Fund of Funds) funds, HTX Ventures invests in 30 top global
funds and collaborates with leading blockchain funds such as
Polychain, Dragonfly, Bankless, Gitcoin, Figment, Nomad, Animoca,
and Hack VC to jointly build a blockchain ecosystem. Visit us
here.
Feel free to contact us for investment and collaboration at
VC@htx-inc.com
Logo -
https://mma.prnewswire.com/media/2476686/image_838145_66083047.jpg
Logo -
https://mma.prnewswire.com/media/2391903/image_ID__Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/htx-ventures-invests-in-nexio-to-enhance-the-bitcoin-ecosystem-302215860.html