SAN FRANCISCO–(BUSINESS WIRE)–Nomad, a security-first cross-chain messaging protocol, introduced in the present day crypto trade giants Coinbase Ventures, OpenSea, Crypto.com Capital, Wintermute, Gnosis, Algaé, and Polygon as individuals of their April 2022 $22.4 million seed spherical.
“Because Nomad provides a trust-minimized protocol for cross-chain messaging, there are potential applications that go well beyond just token bridging,” stated Anurag Arjun, co-founder of Polygon. “We look forward to seeing some of those exciting new use cases come to life on-chain.”
Nomad’s major purpose is to create a safer crypto ecosystem the place blockchains can talk seamlessly and securely with one another. With greater than $1.5 billion stolen this yr by hackers exposing vulnerabilities in cross-chain bridges, the trade is in want of security-first options that maximize the protection of customers, funds, and messages.
“Nomad’s optimistic security model is the gold standard for trust-minimized cross-chain communication,” stated Pranay Mohan, CEO and co-founder of Nomad. “Our team is comprised of some of the most renowned experts in the interoperability space, and their work is bringing us closer to a world where cross-chain communication can be done securely and cost-efficiently.”
Secure cross-chain messaging is vital to uniting DeFi ecosystems and unlocking the true energy and potential of blockspace throughout chains. Nomad’s protocol is tackling this head-on, using optimistic verification to offer a excessive degree of safety that enables watchers to problem messages by way of on-chain fraud proofs, with out counting on custodians or validators. Unlike validator-based cross-chain bridges, Nomad solely requires a single trustworthy watcher to maintain your complete system protected.
To date, Nomad has facilitated almost $700M in complete transaction quantity for greater than 14,000 distinctive customers throughout X blockchains. To be taught extra about Nomad and their cross-chain expansions, please go to nomad.xyz.
Nomad is an optimistic interoperability protocol that permits safe cross-chain communication. The purpose of Nomad is to offer the connective tissue to empower end-users to work together securely throughout blockchains and builders to construct cross-chain functions (or xApps) like token bridges, native cross-chain property, cross-chain governance functions, and extra.
Nomad is already stay on Ethereum Mainnet, Moonbeam, Evmos, Avalanche, and we’re quickly increasing to many different chains. We’re funded by some of the highest VC companies and angels within the area, and are rising our workforce to scale out this imaginative and prescient for an interconnected topology of blockchains. If you consider the current and future are multichain, come construct with us!