Bloctopus Secures £790k to Advance Blockchain Development
Revolutionizing Blockchain Development: Bloctopus Secures $1 Million in Funding
London, UK – April 1, 2025: In an exciting advancement for decentralized applications, Bloctopus (formerly LZero) has successfully raised $1 million (£790k) in a pre-seed funding round led by Hivemind Capital. This investment was bolstered by contributions from notable participants such as Techstars, IronKey Capital, and esteemed founders from organizations like Brevan Howard and Quantstamp. With this funding, Bloctopus is set to enhance its mission of making blockchain development as accessible as building mobile apps on platforms like Firebase.
For the past two years, Bloctopus has been forging partnerships with the Ethereum Foundation and the University of Southampton to refine its blockchain simulation technology.
The company has not only clinched victories in multiple EthGlobal hackathons but has also garnered grants from premier foundations, positioning itself as a beacon of innovation in the sector. According to Bloctopus, this funding will propel the development of essential infrastructure for decentralized applications (dApps) and financial institutions, enabling seamless and secure blockchain interactions. In a space where public testnets often fall short in providing realistic data and reliability, Bloctopus emerges as a game changer, streamlining development processes and significantly reducing DevOps overhead.
With developer interest in Web3 surging by an astounding 300% annually, the need for accessible blockchain development tools has never been more critical. Currently, however, less than 1% of the 30 million developers globally are engaged in on-chain development due to the steep learning barrier. Bloctopus aims to democratize access to blockchain by easing these complexities and facilitating seamless cross-chain interactions. The recent proof-of-concept (PoC) developed alongside LayerZero showcases Bloctopus's commitment to eliminating cumbersome practices and enhancing interoperability across blockchain networks. As they work toward building a decentralized operator network that supports multiple testnets, Bloctopus is paving the way for a more unified and innovative future in web3 development.
For startup founders and investors looking to dive into the evolving landscape of blockchain technology, Bloctopus represents a defining opportunity. To stay abreast of the latest integrations and developments, explore Bloctopus.io, which is now live and free to use. For partnerships, demos, or other inquiries, reach out via [email protected]
Key Terms Explained
- Blockchain Development
- This refers to the process of creating and implementing technologies based on blockchain, a digitally linked list of records where each block contains a cryptographic hash of the previous block. Blockchain development typically requires special programming skills and understanding of cryptography.
- Pre-seed Funding
- Pre-seed funding is an early stage of startup financing that often involves a small group of investors. The goal is to gather enough capital to support the initial development and testing of the startup's product or service and prepare for larger future funding rounds.
- Decentralized Applications (dApps)
- DApps are applications that run on a P2P network of computers rather than a single computer. They have been popularized by distributed ledger technologies (like the Ethereum Blockchain), where dApps are often referred to as smart contracts.
Frequently Asked Questions
- How much funding has Bloctopus secured?-Bloctopus has secured $1 million (£790k) in funding.
- Who led the investment round in Bloctopus?+
- What will Bloctopus use its recent investment for?+
- What obstacle does Bloctopus aim to overcome in the field of blockchain development?+
- Who have Bloctopus been working with to refine its blockchain simulation technology?+
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