Layer1 blockchain developer Sei Labs will launch the Solana virtual machine compatible blockchain Nitro

2022-09-15 20:40:31

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Chain Catcher news, Layer 1 public chain developer Sei Labs announced that it is developing a blockchain called Nitro, which is compatible with the Solana Virtual Machine (SVM), serving as a gateway between Solana and Cosmos. The project will allow developers to deploy existing Solana smart contracts, which users can access through Phantom and other common Solana wallets, and aims to promote the Solana Virtual Machine as a core development standard like the Ethereum Virtual Machine. The mainnet of Nitro is expected to launch in early 2023.

Previously in August, Sei Labs announced the completion of a $5 million funding round, led by Multicoin Capital, with participation from Coinbase Ventures, Delphi Digital, Hudson River Trading, GSR, Hypersphere, Flow Traders, and Kronos Research. Sei is the first Layer 1 blockchain built for trading. (Blockworks)

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