Summary:
QED Protocol raised $6 million in seed funding from Blockchain Capital.
The round valued QED at over $100 million.
QED is a Bitcoin scaling protocol focused on zero-knowledge proof verification technology.
The protocol aims to create a hyper-scalable web3 ecosystem for applications like decentralized exchanges and web2-scale gaming.
QED claims its technology is compatible with Bitcoin Core by leveraging zero-knowledge proofs and Taproot.
The protocol claims to process over 150,000 transactions per second.
QED plans to launch its testnet in the next 3-4 months, followed by a mainnet launch after community consensus is reached.
QED will launch a native token to incentivize proof miners.
QED Protocol, a Bitcoin scaling protocol focused on zero-knowledge proof verification technology, has raised $6 million in a seed funding round from Blockchain Capital, bringing its valuation to at least $100 million. The funding, which closed in April, was structured as a SAFE (Simple Agreement for Future Equity) plus token warrants. QED, aiming to create a hyper-scalable web3 ecosystem for applications like decentralized exchanges and web2-scale gaming, claims its technology is compatible with Bitcoin Core, harnessing the power of zero-knowledge proofs and Taproot. The protocol claims to process over 150,000 transactions per second, aiming to rival Ethereum and its Layer 2 networks. QED believes its trust-minimized security model and cost-efficient approach make it a better choice for users than other Bitcoin scaling protocols. QED is planning a testnet launch within 3-4 months and a mainnet launch following community consensus, alongside its native token to incentivize proof miners. The project, headquartered in Hong Kong, is expanding to the U.S., with plans to open an office in Texas and hire additional personnel for marketing and engineering roles.
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