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0G Labs pre-invests $35 million to build modular AI blockchain
Why focus on modular blockchain Web3 infrastructure company 0G Labs has secured a $35 million seed round of funding. 0G it is creating a modular AI blockchain designed to alleviate the pain points of on-chain AI applications in the web3 ecosystem, such as speed and cost-effectiveness. Michael Heinri…
Headline
Why focus on modular blockchain Web3 infrastructure company 0G Labs has secured a $35 million seed round of funding. 0G it is creating a modular AI blockchain designed to alleviate the pain points of on-chain AI applications in the web3 ecosystem, such as speed and…
Context
Web3 infrastructure company 0G Labs has secured a $35 million seed round of funding. 0G it is creating a modular AI blockchain designed to alleviate the pain points of on-chain AI applications in the web3 ecosystem, such as speed and cost-effectiveness. Michael Heinrich, co-founder of 0G, said, “Our goal is to make any blockchain as high-performance and low-cost as a web2 application; we need decentralised storage. The data pipeline needs to be broad enough so that many users can use it at the same time.”
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Analysis
Also read:Game tech firm Square Enix boosts Web3 gaming with HyperPlay Also read:Blockchain Expo North America 2024: Latest in Web3, NFTs, crypto 0G labs claims that it is very fast and cheap compared to its competitors; it will have a throughput of 50 Gbps compared to the competitors’ 1.5 MBps. without fast and efficient throughput, the costs will increase.” Heinrich said, “We built an ultra-high performance data pipeline. Over time, it hopes to reach “infinite capacity”; the consensus network brings together all the nodes of the blockchain and agrees on a single data set. Also read:Binance Labs launches 7th incubation programme for Web3
Key Points
- Web3 infrastructure company “ 0G Labs ” raises $35 million in pre-seed funding, focuses on building modular blockchain
- The goal of 0G Labs is to focus on high security and throughput. Build as many consensus networks as possible over time.
- 0G Labs plans to enable new use cases that weren’t possible before, allowing more AI applications to develop and solve bigger problems along the chain.
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Pending intelligence enrichment.
