On May 10, OKX Ventures announced an investment in Arch Network, a Bitcoin native application and smart contract platform.
The Arch network is a parallel proof-of-stake network that uses zk-proofs to enhance Bitcoin's native programmability. The network consists of a Rust-based zkVM (called ArchVM) and a decentralized verification network. Together, these components form a trustless execution environment directly within the Bitcoin blockchain, enabling a bridgeless transaction experience.
"We are excited to invest in Arch Network, a Bitcoin-native application platform that takes inspiration from the SVM (Solana Virtual Machine) and facilitates dynamic, Turing-complete smart contracts on Bitcoin using parallelization and integrated zero-knowledge proof (ZK Proof) technology. This novel approach dramatically improves the user experience and Bitcoin users' trust assumptions, enabling a smooth, frictionless experience while maintaining a trustless relationship with dApps and protocols," said Dora, founder of OKX Ventures.
OKX Ventures Announces Investment in Bitcoin Native Application and Smart Contract Platform Arch Network
2024-05-10 01:51:41
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