• VRRB Labs has raised $1.4 million in pre-seed funding to support its development of a decentralized protocol that promises speed, scalability, and decentralization without sacrificing security.
• The protocol leverages a unique “Proof of Claim” consensus algorithm to achieve unmatched speed and scale, both vertically and horizontally.
• The funding will enable VRRB to further scale its development and marketing teams, as well as build out an educational program for developers interested in building on VRRB’s platform.
VRRB Labs Raises Pre-Seed Funding
VRRB Labs (“VRRB”) has raised $1.4 million in pre-seed funding from investors including Jump Crypto, Taureon, and Big Brain Holdings to support the development of its decentralized protocol leveraging a proprietary “Proof of Claim” algorithm to solve the blockchain trilemma.
Protocol Leverages PoC Algorithm
The protocol leverages a unique “Proof of Claim” consensus algorithm to achieve unmatched speed and scale, both vertically and horizontally. Additionally, it implements a novel approach to smart contract DevOps and execution by isolating each smart contract in its own containerized runtime with its own micro virtual machine built to the specification of the program in focus. This provides developers with ultimate flexibility enabling them to build composable smart contracts on a language agnostic platform.
Funding Used To Scale Teams & Build Educational Program
The seed funding will enable the company to further scale its development and marketing teams as well as build out an educational program for developers interested in building on VRRB’s platform.
Aim To Solve Blockchain Trilemma
Despite advancements in blockchain technology, even the most sophisticated networks still fall victim to the blockchain trilemma unable to achieve scalability, security, and decentralization simultaneously. Developers also face friction when looking to build Web3 applications due to lack of resources available for full-time web3 developers (Electric Capital 2022 Web3 Developer report). VRRB’s technology aims at solving these two concerns by providing an innovative blockchain experience that makes it easy and financially sustainable for developers to build user-friendly applications.
Mass Adoption Requires More Developers
According Andrew Smith, Founder of VRRB – “The crypto industry keeps asking where the next billion users will come from, but they’re putting the cart before the horse: Before mass adoption we need more developers who can help design & deliver next generation apps”