Crypto chip company Ingonyama completed a $20 million seed round led by Walden Catalyst, the investor behind AI21 Lab
Cryptographic chip company Ingonyama has announced the completion of a $20 million seed round of funding, led by Walden Catalyst, the main investor of AI21 Lab, with participation from Geometry, BlueYard Capital, Samsung Next, Sentinel Global, and others. Many of the companies participating in this round heavily rely on zero-knowledge proof technology, including Israeli company StarkWare.
It is reported that Ingonyama's first chip is a programmable parallel computing processor similar to a GPU, but designed specifically for accelerating advanced encryption, specifically for zero-knowledge proofs and fully homomorphic encryption. While the chip is being prepared, the company is collaborating with GPU to develop open-source software that efficiently runs the same cryptography.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Spot bitcoin ETFs end positive streak with $438 million outflows; BTC dips to $94,500
U.S. spot bitcoin ETFs reported a total daily outflow of $438 million on Monday.Monday’s net outflow ended a five-day streak of net inflows that brought $3.4 billion into the spot bitcoin ETFs.Meanwhile, bitcoin has retraced some of its gains over the past few days, now trading at around $94,500.
MicroStrategy Buys Additional 55,500 Bitcoins for $5.4 Billion
XRP Price Prediction For November 26
UK Urged to Consider Bitcoin Reserve as Trump Leads Crypto Revolution