San Francisco – (Business wire)-NomadsSecurity-first cross-chain messaging protocol today joins crypto industry giants Coinbase Ventures, OpenSea, Crypto.com Capital, Wintermute, Gnosis, Algaé and Polygon in a $ 22.4 million seed round in April 2022. Announced as a person.
“Nomad offers a protocol that minimizes trust in cross-chain messaging, so there are potential applications that go beyond token bridging,” said Anurag Arjun, co-founder of Polygon. “We look forward to some of these exciting new use cases coming to fruition on the chain.”
Nomad’s main goal is to create a more secure crypto ecosystem that allows blockchains to communicate seamlessly and securely with each other. With more than $ 1.5 billion stolen this year by hackers exposing cross-chain bridge vulnerabilities, the industry needs a security-first solution that maximizes the security of users, money, and messages.
“Nomad’s optimistic security model is the gold standard for cross-chain communications with minimal trust,” said Pranai Mohan, CEO and co-founder of Nomad. “Our team is made up of some of the most renowned experts in the field of interoperability, and their work brings us to a world where cross-chain communications can be carried out safely and cost-effectively. I’m getting closer. ”
Secure cross-chain messaging is the key to integrating the DeFi ecosystem and unleashing the true power and potential of blockspace throughout the chain. Nomad’s protocol takes advantage of optimistic validation to tackle this head-on, at a high level that allows watchers to challenge messages through fraud prevention on the chain without resorting to observers or verifiers. Provides security. Unlike a validator-based cross-chain bridge, Nomad requires only one honest watcher to keep the entire system safe.
To date, Nomad has promoted approximately $ 700 million in total transaction volume for over 14,000 unique users across the X blockchain. For more information on Nomad and its cross-chain extensions, please visit nomad.xyz.
About nomads
Nomads Is an optimistic interoperability protocol that enables secure cross-chain communication. Nomad’s goal is to create a connective tissue that allows end users to interact securely between blockchains and developers to build cross-chain applications (or xApps) such as token bridges, native cross-chain assets, and cross-chain governance applications. Is to provide. ..
Nomad already lives in Ethereum Mainnet, Moonbeam, Evmos and Avalanche and is expanding rapidly to many other chains. We are funded by top VC companies and angels in the field and are growing our team to expand this vision for blockchain interconnected topologies. If you believe that the present and the future are multi-chain Build with us!
