Paris-based Kakarot secures a seed investment from OKX Ventures The amount of the deal was not disclosed. In October 2022, at a Starknet Hacker House, Kakarot was born as a community project. Since then, it has developed into a business whose objective is to make Ethereum scalable.
In just two and a half months, Kakarot achieved complete “Operation Code” (opcode) equivalency thanks to community involvement and the power of Cairo, developed by the Starkware team. Opcode is a primitive code or instruction that permits the programming of operations within a blockchain.
Kakarot is currently getting ready to launch its first testnet, which will function as a Layer-3 on StarkNet—a decentralised Layer-2 network that helps DApps attain scale for computing and transactions—as well as a Layer-2 on Ethereum.
It also aims to evolve into a Type-1 zkEVM, which will enable STARK proofs to be generated by any Layer-1 node. In order to facilitate the continuous evolution of the Web3 domain, the project is also investigating the development of more zero-knowledge proofs, account abstraction, and scalability solutions.
About OKX Ventures
OKX, one of the top cryptocurrency spot and derivatives exchanges globally, launched in 2017. By providing some of the most advanced and varied trading tools, solutions, and products available, OKX has creatively embraced blockchain technology to transform the financial sector.
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OKX, which is trusted by over 50 million users across 180 areas worldwide, aims to offer an interesting platform that encourages everyone to learn more about cryptocurrencies.