Subzero Labs successfully raised 20 million USD to develop the Rialo blockchain, aiming for a solution that integrates real-world data directly on-chain without the need for oracles.
The company aims to push beyond the current limits of cryptocurrency technology, providing developers outside the cryptocurrency field with native tools to integrate external data such as FICO credit scores on the blockchain.
MAIN CONTENT
Subzero Labs raised 20 million USD from reputable investment funds such as Pantera Capital and Coinbase Ventures.
Developing the Rialo blockchain to process off-chain data directly on the blockchain without the need for oracles.
Co-founder Ade Adepoju leverages his experience in developing the Sui blockchain to create a breakthrough solution, with a team of 20 people.
What kind of company is Subzero Labs and how do they attract attention in the cryptocurrency market?
Subzero Labs is a blockchain startup focused on creating solutions that support real-world data on-chain, eliminating reliance on traditional oracles. The 20 million USD funding round led by Pantera Capital reflects significant trust from the reputable investment community in the industry.
The startup is developing the Rialo blockchain with the goal of addressing the technical limitations of current blockchains, which primarily serve financial speculation. Their ambition is to expand blockchain applications into real-world data fields, creating a new generation of technology for developers outside the cryptocurrency ecosystem.
What are the standout features of Subzero Labs' Rialo blockchain?
Rialo aims for the ability to integrate off-chain data directly into the blockchain without deploying oracles, an important improvement in modern blockchain technology. This helps reduce distortion and increase the transparency of data uploaded to the network.
Co-founder Ade Adepoju, an engineer who contributed to the development of the Sui blockchain, has applied his in-depth experience to build the Rialo platform, enabling developers outside the cryptocurrency field to easily materialize complex data such as FICO credit scores on the blockchain natively.
We developed Rialo with the ambition to create the first real-world blockchain, completely different from platforms primarily serving financial speculation.
Ade Adepoju, co-founder of Subzero Labs, 8/2024
What is the development team and funding strategy of Subzero Labs like?
Subzero Labs has a team of about 20 members, gathering talented engineers and industry experts. The seed funding round led by Pantera Capital also included Variant, Coinbase Ventures, and Susquehanna's cryptocurrency fund, highlighting the project’s appeal to major investors.
The company's founder retains rights to both equity and issued Tokens, creating flexibility in balancing long-term interests for investors and project technical development. The specific valuation has not been disclosed, but the project is highly regarded in the market.
The combination of investment capital and Token ownership in the funding round enhances investor commitment to the success of the cryptocurrency technology project.
Director of Investments at Pantera Capital, 8/2024
Which reputable investment funds have participated in this funding round for Subzero Labs?
Pantera Capital is the main investment fund leading the 20 million USD seed round for Subzero Labs, demonstrating interest in blockchain technology that applies real-world data. Additionally, Variant, Coinbase Ventures, and Susquehanna's cryptocurrency investment division also participated, enhancing financial strength and support networks.
This is a sign that reputable investors are seriously monitoring and valuing the technology solution developed by Subzero Labs, promising a positive impact on the global cryptocurrency ecosystem.
How does Subzero Labs' technology differ from existing blockchains?
Most current blockchains serve financial purposes, often relying on oracles to bring off-chain data on-chain. Meanwhile, Rialo eliminates dependence on oracles with native design, enhancing security and reducing data distortion.
This opens up a new blockchain trend that can integrate diverse real-world data, serving applications such as credit scoring, data governance for real estate or healthcare, surpassing the capability of merely being a traditional payment and financial investment platform.
Is there a comparison table between Subzero Labs and traditional blockchains regarding data integration?
Criteria Subzero Labs (Rialo) Traditional Blockchain Off-chain data integration feature Native, no oracle Dependence on oracle Main application Real-world data, credit, multi-industry Primarily finance, speculation Development team Previously developed Sui blockchain, 20 personnel Diverse scale, varying experience Recent funding round 20 million USD, led by major funds Low potential, little deep investment
Frequently Asked Questions
How much funding did Subzero Labs raise and from whom?
Subzero Labs raised 20 million USD in a seed round led by Pantera Capital, with Variant, Coinbase Ventures, and Susquehanna also participating.
What are the standout features of the Rialo blockchain?
Rialo integrates off-chain data directly onto the blockchain without the need for oracles, enhancing security and accuracy.
Who are the founders of Subzero Labs and what experience do they have?
Co-founder Ade Adepoju is an engineer with experience developing the Sui blockchain at Mysten Labs.
How many members does Subzero Labs have and what is their team like?
Currently, there are about 20 highly specialized personnel, including experienced blockchain engineers and experts.
Which reputable investment funds trust Subzero Labs?
Pantera Capital, Coinbase Ventures, Variant, and Susquehanna are all well-known funds in the cryptocurrency investment industry.
Source: https://tintucbitcoin.com/subzero-labs-goi-von-20-trieu-usd/
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