Cytonic Raises $8.3M in Seed Round for Layer-1 Chain with 'MultiVM' Design Compatible with Bitcoin, Ethereum, and Solana
Cytonic, a layer-1 blockchain called "MultiVM" that allows for compatibility with various Web3 technologies, has raised $8.3 million in a seed round led by Lemniscap and Lattice. Developed by MultiVM Labs, Cytonic is the first layer 1 blockchain that runs multiple VM's within the same network layer using shared storage, addressing blockchain compatibility challenges. Cytonic is compatible with most blockchains like Bitcoin, Ethereum, and Solana, enabling different transaction types to be processed together in a single block, with the goal of making on-chain interactions easier and reducing transaction fees and waiting times when moving assets between chains.
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