The Rise of ZK RaaS: Opside Completes a $4 Million Seed Round Financing

04/06/2023 09:05 • Blockchain Buzz • 139 views

On April 6th, ZK RaaS (ZK roll up as a service) provider Opside announced the completion of a $4 million seed round financing, led by Web3.com Ventures. The seed round funds will be used to accelerate the development of Opside, expand its team, and expand its operational scale.

ZK-RaaS provider Opside completed $4 million seed round financing

Introduction

On April 6th, ZK RaaS provider Opside announced the completion of a $4 million seed round financing. The investment was led by Web3.com Ventures and is expected to accelerate the development of Opside, expand its team, and increase its operational scale.

What is ZK RaaS?

ZK RaaS, or ZK roll up as a service, is a technology that enables the creation of scalable and secure decentralized applications (dApps). ZK rollups use zero-knowledge proofs to increase the capacity of smart contracts and improve their privacy and security.

Who is Opside?

Opside is a ZK RaaS provider that offers a turnkey solution for dApp developers. The company aims to make it easy for developers to integrate ZK rollups into their applications without having to build everything from scratch. Opside claims that its solution is up to 100 times more scalable than Ethereum and can handle up to 20,000 transactions per second.

Seed Round Financing

Opside’s seed round financing, which raised $4 million, was led by Web3.com Ventures, a venture capital firm that focuses on blockchain-based technology. Other investors in the round included Hypersphere Ventures, Panony, Stratos Technologies, and investors from the Ethereum community.
The funds from the financing will be used to accelerate the development of Opside, expand its team, and increase its operational scale. The company also plans to partner with other dApp developers to help them integrate ZK rollups into their applications.

The Future of ZK RaaS

ZK RaaS could transform the blockchain and cryptocurrency space by enabling the creation of more scalable and secure dApps. With the completion of its seed round financing, Opside is poised to be a major player in this emerging technology.

Conclusion

Opside’s completion of a $4 million seed round financing led by Web3.com Ventures is a significant milestone for ZK RaaS technology. The investment will enable Opside to accelerate the development of its solution, expand its team, and increase its operational scale. As ZK RaaS technology continues to evolve, it has the potential to transform the blockchain and cryptocurrency space.

FAQs

#Q: What is ZK RaaS?

A: ZK RaaS, or ZK roll up as a service, is a technology that enables the creation of scalable and secure decentralized applications (dApps).

#Q: Who is Opside?

A: Opside is a ZK RaaS provider that offers a turnkey solution for dApp developers.

#Q: What will the seed round funds be used for?

A: The funds from the financing will be used to accelerate the development of Opside, expand its team, and increase its operational scale.

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