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Nubit Raises $3 Million to Construct Bitcoin’s First Ever Information Availability Layer

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“This funding marks a pivotal step in Nubit’s mission to construct the primary Bitcoin-native knowledge availability layer, driving ahead the evolution of the Bitcoin ecosystem”, reads a launch

Nubit, which boasts the primary ever knowledge availability layer function constructed for the Bitcoin ecosystem, has simply closed a $3 million funding spherical.The spherical options a number of the perfect institutional traders within the house, together with however not restricted to:

  • MH Ventures
  • OKX Ventures
  • ArkStream Capital
  • Symbolic VC
  • Longhash Ventures
  • Cogitent Ventures
  • NGC Ventures

“Nubit is not only a mission; it is the daybreak of Bitcoin’s new period. Our intention is to revolutionize Bitcoin’s infrastructure, making certain scalability and safety by our Bitcoin-native knowledge availability layer”, mentioned Yu Feng, co-founder of Nubit and a professor in laptop science at UCSB

What’s Nubit?

Nubit is, before everything, an information availability layer for initiatives constructing inside BTC’s new and thrilling ecosystem. The huge proportion of blockchain initiatives require exterior (or inside) knowledge streams so as to run successfully, and Nubit goals to service exactly these initiatives.

In keeping with the mission itself, Nubit’s intention is to onboard ‘an unlimited group of builders into the Bitcoin ecosystem, empowering them with scalable, safe, and decentralized instruments’.

“Nubit’s revolutionary method, spearheaded by a staff of educational consultants, is about to fill this hole. With a basis rooted in scholarly analysis and experience, Nubit leverages Bitcoin’s inherent safety and decentralization to supply a brand new paradigm in blockchain infrastructure”, reads a launch

The mission has positioned itself because the Celestia ($TIA), which boasts a market cap of $2.5 billion at time of writing, of the burgeoning Bitcoin performance ecosystem.

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Nubit has already launched its personal ‘Modular Indexer’, in collaboration with ‘Domo’ (the creator of BRC-20). It has additionally introduced a precedent-setting partnership with main Bitcoin layer-2, Merlin, which can leverage Nubit’s DA layer to construct out its personal ecosystem.

In keeping with the discharge, Nubit is shifting ahead with its Pre-Alpha Testnet and plans to launch its official mainnet “later this 12 months”.

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