Neutron, a blockchain project in the Cosmos ecosystem, closed a $10 million seed funding round led by Binance Labs and CoinFund.
Other investors include Delphi Ventures, LongHash, Semantic Ventures and Nomad.
Neutron offers a “economical and secure environment” for building smart contracts and decentralized applications. The infrastructure and tools of the project are built on the basis of Cosmos SDK and CosmWasm technologies, providing compatibility with 51 ecosystem appchains.
“Neutron is designed to solve three main problems that smart contract developers face in Cosmos: lack of security, reliable neutrality, and access to cross-chain infrastructure,” said one of the founders of the platform, Avril Duteil.
The project started in May and became the first Cosmos blockchain launched using Replicated Security. This is a feature that allows so-called “consumer chains” to connect to Cosmos Hub validators to run applications securely.
According to the team, the funds raised will be used to support the expansion of the Neutron ecosystem and stimulate the development of new dapps.
Recall that the Connext project focused on blockchain interoperability raised $7.5 million at a $250 million valuation.
In June, Binance’s venture arm announced investments in five startups – Bracket Labs, DappOS, Kryptoskatt, Mind Network and zkPass.
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