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Buterin and others to invest
The project to develop the cryptocurrency Ethereum (ETH) virtual machine (EVM) “Kakarot” announced on the 2nd that it had completed the pre-seed round of funding.
Although the amount of funding has not been disclosed, it is explained that Ethereum co-founder Vitalik Buterin and Ethereum’s L2 project “StarkWare” have invested. At the same time, it announced that “Kakarot Labs” was officially incorporated. Kakarot will continue to be developed according to the roadmap.
We have powered up and entered Super Saiyan mode
. Kakarot Labs has officially been incorporated and closed a pre-seed round with top-tier investors.
Let’s unpack our vision, current standing, and the exciting future ahead. pic.twitter.com/VI8QRdPLfw
— Kakarot zkEVM (@KakarotZkEvm) June 2, 2023
What is L2
Abbreviation for “Layer 2”, which is the “second layer” of the network. Processing all transactions on the main chain would increase the load, leading to slower processing speeds and higher network fees. By performing part of the transaction in L2, we can expect to reduce the load on the main chain and improve the processing speed.
Cryptocurrency Glossary
connection: What is Blockchain Layer 2?
The project is new and there is not much information on the official website. The website appears to be managed by an organization called “Sayajin Labs”, but Kakarot Labs is also believed to be involved in development and operation.
Kakarot is zkEVM written in the programming language “Cairo”. Cairo is a programming language used in StarkWare’s solutions “Starknet” and “StarkEx” that participated in this funding. Phase 1 of the roadmap aims to operate as Starknet’s zkEVM.
The official website explains that Kakarot can be used to run smart contacts on Starknet. Also, from the fact that “Kakarot is a Super Saiyan zkEVM”, it can be seen that it is a project that is conscious of the Japanese animation “Dragon Ball”.
The goal of Phase 1 is to run as Starknet’s zkEVM, allowing developers to seamlessly deploy EVM apps. He explained that it will bring new possibilities and expand the Starknet ecosystem.
What is zkEVM
EVM using zero-knowledge proofs. Currently, it is attracting a lot of attention as an L2 solution.
Cryptocurrency Glossary
connection: Polygon launches mainnet beta version of “Polygon zkEVM”
Features of Kakarot
Developers can deploy apps written in programming languages compatible with Solidity and EVM on Kakarot. In addition, end users will still be able to use the app in the current environment using a wallet such as Metamask.
And the Kakarot blog claims that the experience for developers and users is exactly the same as networks like Ethereum, Polygon (MATIC) and Scroll.
Starknet is an L2 network, but Phase 2 will build an L3 zkEVM. After that, he said, he will work to further reduce gas costs by leveraging data availability solutions such as Celestia.
connection: “GM Radio” Next time, modular blockchain development company “Celestia” will participate
The post Buterin also invests zkEVM project “Kakarot” completes pre-seed funding appeared first on Our Bitcoin News.
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