Blockchain interoperability developer Union Labs has raised $4 million in seed funding to construct a bridge connecting completely different Layer 1 and Layer 2 networks with zero-knowledge (ZK) proofs.
The funding was led by enterprise companies together with Galileo, Semantic Ventures, Tioga Capital, and Nascent. Different buyers within the spherical embody Lightshift and Refrain One. The capital raised shall be used for hiring and growth efforts.
Not like up to date bridging options, Union doesn’t grant relayers particular authority, making certain non-public keys will not be a goal for safety hacks, as they can not take management of the protocol. Messages are verified utilizing ZK proofs as a substitute.
“Essentially the most distinguished hacks are bridge hacks, but bridges stay important infrastructure for nearly all initiatives, displaying the necessity for higher, extra resilient merchandise. It’s our accountability to innovate new methods to guard these belongings and additional the adoption of ZK applied sciences to comprehend a safe and interoperable cross-chain future,” stated Karel Kubat, founding father of Union Labs.
Architectural breakdown: Union’s ZK bridge parts
Union’s ZK bridge structure contains two key parts that allow the challenge to facilitate Cosmos’ communication protocol, referred to as IBC, on Ethereum; CometBLS, the consensus mechanism, and Galois, the zero-knowledge prover system.
Union’s CometBLS consensus permits the switch of any asset natively to any chain with out counting on third events, oracles, or multi-signatures (multi-party computation). CometBLS augments Cosmos’ Tendermint consensus, in keeping with the crew.