Barcelona, Spain, April 14th, 2024, Chainwire
Aligned Layer, the first decentralized ZK Proof verification layer for Ethereum, powered by Eigen Layer, has closed its $2.6 million USD seed round. The round was led by Lemniscap, with participation from Bankless Ventures and Paper Ventures, as well as strategic investments from StarkWare and O(1)Labs. The funding will go towards team expansion and accelerating Aligned Layer’s mainnet launch, scheduled for Q2 2024.
As an Eigen Layer AVS, Aligned Layer provides a new infrastructure for Ethereum to access affordable Zero-Knowledge Proof verification for all proof systems. This enables developers to build applications like L2s and bridges to access the best technology possible without having to worry about costs and speed, which is essential for the scalability and interoperability of Ethereum. By facilitating cost-effective and flexible verification mechanisms, L2s and bridges promote interoperability, liquidity, and accessibility, driving innovation and expanding the potential use cases for blockchain technology across various sectors and applications.
Aligned Layer introduces a dedicated layer specifically designed for proof verification, enhancing the proof verification functionality of Ethereum by integrating cutting-edge Zero-Knowledge Proof systems. This includes technologies like Cairo from Starkware, SP1 from Succinct Labs, RiscZero, Kimchi from Mina, and Jolt from A16z. These integrations aim to significantly reduce costs, increase speed, and improve the developer experience by leveraging the latest advancements in Zero-Knowledge Proofs.
The introduction of Aligned Layer particularly benefits:
Existing Technologies: Proofs like Cairo and RiscZero, which represent groundbreaking new technology, currently face high costs on Ethereum. These will see direct cost benefits.
Newly Enabled Technologies: Proof systems such as SP1, Jolt, and Kimchi, which were previously impractical to implement on Ethereum, can now be utilized effectively thanks to Aligned Layer.
Aligned Layer Founders Roberto José (RJ) Catalán and Federico Carrone have assembled a leading team of seasoned cryptographers and distributed systems experts, driven to extend the Zero-Knowledge capabilities of Ethereum. Recognising how Ethereum wasn't originally designed for Zero-Knowledge Proofs, Catalán and Carrone founded the company to address the challenges and limitations that come with integrating new primitives for evolving proving systems. Aligned Layer is providing infrastructure for the future of trustless applications, enabling cost-effective and fast verification of any Zero-Knowledge Proof. This is achieved by leveraging the security of Ethereum utilizing restaking from EigenLayer, enabling flexible access to the economic security of Ethereum.
The seed round also included participation from the angel investors Sreeram Kannan, Brandon Kase, Daniel Lubarov, DCbuilder, Chainyoda, Weikeng Chen, Sami BENYAKOUB (samnode_), Peter Fittin (SizeChad) and Lucas Kozinski.
Roberto José (RJ) Catalán, Co-founder of Aligned Layer, said: “Today’s announcement is a testament to our team’s shared dedication to making Ethereum the most cost-effective and efficient platform for ZK verification by using Eigen Layer. At Aligned Layer, we firmly believe that developers should be able to use the proof system that best suits their needs, without being constrained by the settlement layer. I’d like to sincerely thank our investors for giving us the financial runway to execute a comprehensive growth strategy.”
Shaishav Todi, General Partner at Lemniscap, said: “Lemniscap is delighted to have led the seed round for Aligned Layer, a platform that is greatly extending the ZK capabilities of Ethereum at a critical juncture in the ecosystem’s evolution. We’re particularly proud to support Roberto, Federico, and the entire team on their mission to support the development and research community engaged in a range of proof systems – which is crucial for fostering a scalable blockchain industry.”
About Aligned Layer
Aligned Layer is the first decentralized verification layer for Ethereum powered by Eigen Layer. Aligned Layer works with EigenLayer to leverage Ethereum economic security to improve Ethereum as a settlement layer. By being built from scratch with zero-knowledge proofs in mind, Aligned Layer offers cheap and fast verification of any proving system, while enabling the usage of cutting edge algorithms that may use new techniques to prove even faster.
About Lemniscap
Lemniscap is an investment firm specializing in investments in emerging crypto assets and blockchain startups. Since its founding in 2017, Lemniscap has funded multiple investments in the crypto blockchain space, on the core belief that blockchain technology will upend traditional business models, resulting in profound changes in the world economy. The Lemniscap team consists of talented people with backgrounds in financial markets, PE/VC, technology and entrepreneurship. For more information, visit https://lemniscap.com/.
Contact
Founder
Lorcan Byrne
ForewordVenture
lorcan@forewordventure.com
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