Lagrange Labs closes $13.2M to build ZK proofs based on EigenLayer.
Share this article
Lagrange Labs, a cryptography startup specializing in zero-knowledge (ZK) proofs, has raised $13.2 million in a seed funding round led by Peter Thiel's Founders Fund.
The startup is based on Ethereum's EigenLayer Restaking platform and aims to efficiently and securely access decentralized applications with another resource-based onchain computing power.
Lagrange's flagship product comes with Zero Knowledge's “coprover” slated for release later this month.
According to the press materials, the Cooperator works as a network of special nodes, which can perform high-level calculations and generate ZK certificates based on the results. Such a setup allows decentralized applications to reliably access the computations without the need for trust between the initialized task and the off-chain prover.
Founder Ismail Hishon Rezaizadeh says Lagrange's verifier systems and verification architectures can reach “very big-data verifiable computational scales” that would otherwise have been “impossible”.
This approach allows blockchains, which are often expensive and slow for certain tasks, to run some computations cheaply and quickly off-chain.
Lagrange Security will be based on EigenLayer, a platform that allows users to recycle Ether (ETH) tokens to help secure startup blockchain applications in exchange for additional rewards. According to Hishon Rezaizadeh, about $6 billion of repossessed assets have been allocated to Lagrange Security.
Lagrange says they work to continuously develop their operators and match improvements to EigenLayer's core stack. The startup is in partnership with Kraken, a crypto exchange and crypto-financial firm Galaxy.
In addition to founder funding, the recently closed seed round saw participation from Archetype Ventures, 1kx, Maven11, Volt Capital, Fenbushi Capital, CMT Digital, Mantle and Ecosystem.
Share this article
The information on or included in this website is obtained from independent sources that we believe to be accurate and reliable, but we make no representations or warranties as to the timeliness, completeness or accuracy of any information on or accessible from this website. . Decentralized Media, Inc. Not an investment advisor. We do not provide personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may be out of date, or may be incomplete or incorrect. We may, but are not obligated to, update any outdated, incomplete or inaccurate information.
Crypto Briefing may also include articles with AI-generated content created by Crypto Briefing's own proprietary AI platform. We use AI as a tool to deliver fast, useful and actionable information without losing the insight – and control – of experienced crypto natives. All AI-added content is carefully reviewed, for accuracy, by our editors and writers, and we always draw from multiple primary and secondary sources to create our stories and articles.
You should not make an investment decision in an ICO, IEO or other investment based on the information on this website and you should never interpret or rely on any information on this website as investment advice. If you are seeking investment advice on an ICO, IEO or other investment, we strongly recommend that you consult a licensed investment advisor or other qualified financial professional. We do not receive compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities or commodities.
See full terms and conditions.
