Kakarot, a Paris, France-based developer of a type 2.5 zero-knowledge Ethereum virtual machine (zkEVM) written in Cairo, a scalable transparent argument of knowledge (STARK)-based Turing-complete language for writing provable programs on blockchain, received a seed investment from OKX Ventures.
The amount of the deal was not disclosed.
Kakarot started as a community initiative during a Starknet Hacker House in October 2022 and has since evolved into a company with a mission to enable Ethereum’s scalability. With community engagement and the power of Cairo, developed by the Starkware team, Kakarot achieved full ‘Operation Code’ (opcode) equivalence in just two and a half months; opcode is a primitive code or instruction that enables the programming of operations within a blockchain.
Kakarot is currently preparing to launch its inaugural testnet, which will serve as both a Layer-2 on Ethereum and a Layer-3 on StarkNet, a decentralized Layer-2 network that enables Ethereum to scale securely and DApps to achieve scale for transactions and computation. In addition, it plans to become a Type-1 zkEVM, allowing any Layer-1 node to generate STARK proofs.
The project is also exploring the development of other zero-knowledge proofs, account abstraction and scaling solutions to contribute to the ongoing development of the Web3 space.
FinSMEs
17/11/2023