June 13, 2024
Latest Cryptocurrency News

Stripchain Secures $10M to Enhance User Experience

User experience (UX) remains a significant hurdle in the widespread adoption of cryptocurrencies, hindering acceptance across various demographics. Stripchain, an interoperability protocol, aims to address this by enabling seamless on-chain transactions without concern for the underlying network.

Introducing Stripchain: Pioneering Chain Abstraction

Stripchain has secured $10 million in funding to spearhead chain abstraction on a large scale.

Led by pseudonymous researcher “0xnovachrono” alongside Isa Sertkaya and Narayana Pryusty, the protocol aims to replicate the user experience of centralized applications in decentralized environments.

“Like we don’t care about the backend system of Netflix, we should not care about the backend system of a decentralized application.”

Statement from “0xnovachrono”

Shaping the Future of Web3

Spearheaded by Sora Ventures, the funding round saw participation from notable investors and venture capital firms, indicating growing interest in improving crypto UX. According to a spokesperson for Sora Ventures, Stripchain’s approach addresses the pressing need for simplified UX in navigating diverse blockchain ecosystems.

Moreover, Stripchain introduces a novel concept wherein developers can create commands, termed intents, to facilitate seamless data transfer between blockchains. Powered by the stripVM system, this innovation enables applications to interact with various protocols effortlessly.

An another distinctive feature lies in its focus on the transaction layer and utilization of a proof-of-authority system. Unlike previous interoperability solutions targeting protocol or contractual layers, Stripchain operates at the user layer, facilitating direct communication between applications.

“Connecting values across blockchains using bridges is a significant achievement, but bridging monolithic applications across execution layers is the next frontier.”

Statement from “0xnovachrono”

Currently undergoing private beta testing, Stripchain anticipates the launch of its testnet in the forthcoming months. This signals a promising step towards revolutionizing crypto UX and fostering mass adoption.

Image by freepik

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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