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Stripchain raises $10.1M in order to unify blockchains through chain abstraction

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Stripchain is an intent-based interoperability protocol making chain abstraction a reality.

Road Town, Tortola, May 22nd, 2024

Blockchain development firm behind StripchainSilent Research Labs (SRL) has raised just over $10M in order to build an interoperability protocol for applications to enable chain abstraction at scale with the recent round led by Sora ventures. 

Stripchain said in a statement that angel investors such as Santiago santos, Mattia from Zee Prime, Stephane Gosselin of frontier tech and founder of messari Ryan Selkis has joined the round among other venture firms such as HyperithmShima Capital, Hypersphere, Mechanism, Ascensive Assets that has also joined the fundraising round among others. 

What is stripchain? 

Stripchain is an intent-based interoperability protocol making chain abstraction a reality. At its core stripchain relies on StripVM which is responsible for providing security and is responsible for coordinating, orchestrating and executing calls made by users, unifying heterogeneous blockchains and bringing in an era of domain fluidity unseen before. 

The founder of SRL said in a statement that, “True Interoperability means being able to interact with an application seamlessly, while stripping away all the underlying complexities. Stripchain is built to strip away all the complexities that a developer faces while thinking about their potential target market, making the application chain arbitrary. The industry today deserves the same user experience that web2 has and that is the exact vision of stripchain”.

Stripchain aims to shake up the transaction order flow supply chain through its stripVM by plugging in into different end applications, making the application truly interoperable. Stripchain allows developers to enable users or applications from other domains or chains to interact with their system and be able to receive a request response changing the way we look at interoperability today. All in all, Stripchain allows for cross-domain communication between users and applications at scale. 

Stripchain launches and plan 

Striphain has already launched an internal testnet and has already unified a number of chains. It is planning to open its testnet access to the public in Q2 2024.

SRL’s team stated that there are currently 5 people working on Stripchain and it is looking to expand the team.

The interoperability sector is still in its very nascent stage, and there hasn’t been a winner selected yet, Isa Sertkaya the cofounder of Stripchain also mentioned that Stripchain is focused on looking at various state update requests with the lens of user intents and not transactions building a global blockspace to abstract away the chain through intents and hyperscale user experience in order to unify all blockchains together building applications that are truly interoperable. Stripchain also does not see any other projects as its competitors, but general allies working together to improve the overall web3 ecosystem, mentioning near protocol as one such ally.

Stripchain’s team also stated that Stripchain is about to go on a roadshow worldwide, which community members should take note of and attend for a potential reward. 

About Stripchain

Stripchain is a decentralized platform that enables creators to launch and manage their own token economies. It provides a suite of tools and infrastructure for creating, distributing, and governing fungible and non-fungible tokens (NFTs) on the blockchain. The platform aims to empower creators, communities, and brands to monetize their content and engage with their audiences in innovative ways through tokenization.

To keep up to date with Stripchain, users can check out the links below: 

Website – Twitter

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