Ethereum verification process Raising $20 million in Series A funding, Aligned Layer aims to provide faster and less expensive zero-knowledge (ZK) proofs on the second-largest blockchain globally.
Leading the fundraising effort was Hack VC, with support from DAO5, L2Iterative, NomadCapital_io, FinalityCap, Symbolic VC, and Theta Capital.
ZK proofs are protocols wherein a party can confirm to the other side that a statement is true without providing any additional details.
As stated in a blog post on Thursday, the goal of Aligned Layer is to assist developers in avoiding bottlenecks when proving their code while lowering the cost of developing Ethereum apps that use ZK proofs.
Aligned Layer stated, “We quickly and cheaply verify proofs and post their results in Ethereum and any DA (data availability) layer that the developer wants.”
EigenLayer’s “actively validated service” (AVS) is Aligned Layer. The goal of EigenLayer’s cryptocurrency project is “restaking,” which is the practice of depositing ether (ETH) as security for the main blockchain and using it again to protect additional networks.
Significant funding has also been provided to Eigen Labs, the project’s developer, who in February raised $100 million from Andreessen Horowitz (a16z), the leader of the cryptocurrency venture capital industry.