Nexio: Bitcoin Rollup Project Completes Initial Funding

Bittime - Nexio, an innovative Bitcoin rollup project, successfully secured $2.2 million in Pre-seed funding to improve the scalability and security of smart contracts with MoveVM technology. 

Bitcoin Rollup Project Completes Initial Funding

Nexio, an inventive Bitcoin rollup project, has just announced that its $2.2 million Pre-seed funding round has been completed. According to a Deep Trend TechFlow report, Lattice is responsible for the fund.

Additionally, other prominent investors such as HTX Ventures, Artichoke Capital, Morningstar Ventures, Sharding Capital, SNZ Holding, Sats Ventures, and Wise3 Ventures have followed suit.

What is Nexio?

Nexio is a promising project in the Bitcoin community, especially in terms of scalability and smart contract security. Nexio is powered by MoveVM, a virtual machine originally developed by Facebook for the Libra (now Diem) project. 

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Goal of Nexio Bitcoin Rollup Project

By integrating MoveVM into the Bitcoin ecosystem, Nexio aims to fix the design shortcomings of multi-signature bridges and EVM (Ethereum Virtual Machine) based expansion solutions.

Nexio Technology and Advantages

Its ability to achieve very high transaction throughput of more than 30,000 transactions per second (TPS) as well as very low gas fees for each transaction, only $0.01. Thus, Nexio is the perfect platform for applications that require high-frequency transactions.

Impact and Potential of Nexio in the Future

Nexio now has the resources to accelerate the development and adoption of its technology thanks to new funding. If the project is successful, it will enhance Bitcoin's technical capabilities and possibly strengthen its position as an ideal platform for application development with high scalability and low transaction costs.

Promising Potential of Nexio Bitcoin Rollup Project

Nexio is in a strong position to be one of the major players in the growth and development of the Bitcoin ecosystem as the need for more efficient solutions in the cryptocurrency space increases.

Conclusion

With backing from Lattice and other high-profile investors, Nexo, an inventive Bitcoin rollup project, has completed a $2.2 million Pre-seed funding round. 

Using MoveVM, a virtual machine developed by Facebook for Libra, the project aims to address the scalability and security issues of the Bitcoin ecosystem.

Nexio has great potential to become a major player in Bitcoin-based application development due to its advanced technology that can handle more than 30,000 transactions per second with very low transaction fees.

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