LBank Labs Invests in QED: Unleashing Bitcoin’s Full Potential with Zero-Knowledge Proofs

LBank Labs has marked a new milestone by participating in the $3 million funding round for QED. This innovative venture is set to revolutionize the Bitcoin ecosystem with its groundbreaking zk-Native blockchain protocol. The funding round, led by Arrington Capital, witnessed contributions from renowned venture capital firms including Starkware, Draper Dragon, Blockchain Builders Fund, Edessa Capital, and others.

QED’s pioneering technology integrates the scalability of Zero-Knowledge (ZK) Proofs with the liquidity and security of Bitcoin (BTC), aiming to position Bitcoin as a cornerstone of the decentralized economy. This innovative approach, developed by the team renowned for implementing modular arithmetic in TapScript, is not just another blockchain solution. It’s a game-changer in decentralized applications (DApps), offering unlimited computation for a fixed gas fee and introducing ‘smart signatures’, akin to smart contracts.

One of the most notable features of QED is its horizontal scalability, making it the world’s first blockchain of its kind. This scalability is achieved through increased throughput from a greater number of network nodes. Additionally, the Dapen Web IDE in QED allows developers to swiftly build and deploy smart contracts using popular programming languages like Javascript and Python. This user-friendly approach, coupled with the protocol’s end-to-end Zero-Knowledge Proof recursive verification, makes QED a secure and versatile platform.

QED supports all Layer-1 chains and WebAuthn Wallets, and its robust security model offers high censorship resistance and immunity to front-running. With a roadmap that includes launching a Testnet and the QED mainnet in 2024, along with a token event, QED is poised for an exciting year ahead.

Czhang, IC board member of LBank Labs, reflecting on the investment, shared a quote, “Besides being the strongest tech team we’ve ever met, QED is also extremely dynamic with market adaptation on scaling solutions ‘for all’ in the ecosystem.” This statement encapsulates LBank Labs’ confidence in QED’s potential to revolutionize the Bitcoin landscape.

About LBank Labs:

LBank Labs, with its $100M AUM, is renowned for its strategic investments in the blockchain and cryptocurrency space. Its portfolio boasts of innovative projects like Entangle, Puffer Finance, LunarCrush, Navi Protocol, Exabits, Hivello, and significant investments in VC funds such as Collab Currency, SevenX Ventures, IOSG Ventures, Blockchain Builders Fund, and more.

About QED

Founded by Carter Feldman, QED is Bitcoin’s native execution layer, designed to address the challenges of Web3 development. The horizontally scalable, secure, and user-friendly platform is built for developers and users alike, supporting a wide range of applications from DeFi to NFTs and beyond.