Fabric

Base

Read

Blockchain infrastructure startup Layer has raised $6 million to create developer tools that support full-stack decentralized applications on Ethereum. 
Layer, a <a href="https://crypto.news/tag/blockchain/" target="_blank">blockchain</a> infrastructure startup, has raised $6 million in a seed round led by 1kx, with participation from Fabric Ventures, Arrington Capital, and Stake Capital Group. 
In a press release shared with crypto.news, the firm said it plans to use the proceeds to extend the capabilities of <a href="https://crypto.news/tag/ethereum/" target="_blank">Ethereum</a> by creating developer tools that support full-stack decentralized applications using Web Assembly. 
Founded by blockchain veterans Sam Cassatt, Jake Hartnell, and Ethan Frey, Layer’s platform is expected to enable developers to build more complex decentralized applications that rely on off-chain computation, addressing the limitations of current smart contracts. The Layer SDK will allow applications to combine blockchain security with off-chain services like AI agents and decentralized messaging servers. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “We wanted to complete the full narrative arc of decentralized architecture, and give the world the tools necessary to build any application, with any performance requirements in this trust-minimized way.” 
 Sam Cassatt, co-founder of Layer 
</blockquote> 
<h2 class="wp-block-heading" id="layer-gains-angel-backing-to-develop-full-stack-ethereum-sdk">Layer gains angel backing to develop full-stack Ethereum SDK</h2> 
The funding round also saw backing from angel investors, including Sreeram Kannan of EigenLayer, Mike Silagadze of Ether.fi, and former BlackRock executive Paul Taylor. The team says their upcoming product, known as the “Layer SDK,” will allow developers to build new layers on top of Ethereum that run full-stack blockchain-based applications consisting of smart contracts, consensus mechanisms, UI, and verifiable off-chain services. 
The funding comes as concerns grow over hidden vulnerabilities in smart contracts, with bad actors increasingly exploiting them to lure victims. In late September, analysts at blockchain firm Trugard Labs <a href="https://crypto.news/coinbases-base-smart-contracts-contain-over-34k-vulnerabilities-data-shows/" target="_blank">identified</a> over 34,000 high-risk vulnerabilities in smart contracts rolled out on Base during August. Hidden balance updates and minting manipulations were also detected across Ethereum and <a rel="" href="https://crypto.news/tag/bnb-chain/">BNB Chain</a> (formerly Binance Smart Chain, BSC), though in smaller numbers. 
 Read more: <a rel="" href="https://crypto.news/goldman-sachs-backed-blockchain-infrastructure-provider-blockdaemon-eyes-2026-ipo-report/"> Goldman Sachs-backed blockchain infrastructure provider Blockdaemon eyes 2026 IPO: report </a>

Crypto startup Layer secures $6m to solve limitations of smart contracts

Table of Contents

crypto.news

Other articles published on Oct 7, 2024

Scammers Stop Targeting TON Network Users

Kraken Expands European Reach with Acquisition of Dutch Crypto Broker BCM

Bitget’s BGB Token Plummets Early on October 7 Before Partial Recovery

Telegram’s reputation takes another hit as UN calls it ‘home of Southeast Asia’s cyber criminals’

Avalanche Foundation Launches $40M Retro9000 Grant Program for L1 Developers

Why Caroline Ellison Was Sentenced to Two Years in Prison

Join our free newsletter for daily crypto updates!