QED, the world’s first zk-Native blockchain protocol, announced today it has raised $3 million in a funding round led by Arrington Capital with participation from several prominent venture capital firms and companies including Starkware, Draper Dragon, Blockchain Builders Fund, Lbk Labs, Paper Ventures, Valhalla Capital, Edessa Capital and Anagram Ltd.
QED aims to revolutionize Bitcoin by combining the scalability of Zero-Knowledge (ZK) Proofs with the liquidity and security of Bitcoin (BTC).?
QED’s cutting-edge technology, developed by the pioneering team that implemented modular arithmetic in TapScript, is a unique approach to empowering more applications for BTC. Decentralized applications built on QED can locally prove transactions, providing users with unlimited computation for a fixed gas fee. This innovative method ensures that every user’s public key functions as a custom ZK circuit, featuring ‘smart signatures’ that can be read from state, resembling a smart contract.
“Bitcoin has traditionally lagged behind other blockchain protocols due to its lack of support for smart contracts and decentralized applications. But we believe it has the power to be far more than just gold – it can be the foundation of the entire decentralized economy,” said Carter Jack Feldman, Founder of QED. “QED will be the execution layer of Bitcoin, combining the power of ZK proofs to enable functionality like smart contracts and DeFi with the full security of a Bitcoin. We’re pioneering a new frontier for decentralized applications that can take advantage of the liquidity of $1.01 trillion and growing Bitcoin market cap.”