Datalayer Secures $500k in Pre-Seed Funding to Revolutionize Blockchain Scalability with Personal Blockchains
Hyderabad, India, June 7th, 2024, Chainwire
Datalayer, a groundbreaking Layer-1 blockchain platform, has successfully raised $500k in pre-seed funding. The funding round was led by GBV Capital and NxGen, with significant participation from investors including X21 Digital, CSP DAO, Connectico, and others.
Datalayer is set to transform the blockchain landscape with its innovative, user-owned localchains technology. Unlike traditional blockchains, Datalayer’s localchains aim to mitigate blockspace competition and enhance transaction efficiency.
One of the primary challenges for blockchain-based applications is the problem of slow transaction speeds and high gas fees. While many Layer-1 blockchains offer general-purpose networks for developers, Datalayer focuses specifically on consumer applications such as gaming, social media, on-chain AI, and data ownership.
The newly raised funds will be used to enhance Datalayer’s development capabilities, expand the team, and build the testnet.
About Datalayer
Datalayer is a new Layer-1 blockchain and smart contract protocol that introduces localchains (lightweight, user-owned parallel chains) to provide dedicated blockspace to users. It is purposefully engineered for high-frequency, low-cost assets, catering specifically to sectors such as AI, DePIN, micro-payments, and real-world assets (RWA), among others. The project has raised over $500k in pre-seed funding from top-tier investors, including GBV Capital, NxGen, X21 Digital, and more.
