Interoperability protocol Stripchain completes $10 million financing, led by Sora Ventures

2024-05-22 22:05:00

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ChainCatcher news, according to Cointelegraph, the interoperability protocol Stripchain has completed a $10 million financing round, led by Sora Ventures, with participation from Hyperithm, Shima Capital, Hypersphere, Mechanism, and Ascensive Assets.

It is reported that the startup allows developers to create commands called "intents" to perform operations such as transferring data between blockchains. Based on a system called stripVM, it will enable applications to communicate and coordinate with different protocols.

Additionally, the main distinction of this solution from other interoperability protocols lies in its focus on the transaction layer and the use of a proof-of-permission system. Early interoperability solutions targeted the protocol layer (e.g., Cosmos's Inter-Blockchain Communication protocol) or the contract layer through bridging, while Stripchain facilitates data transfer at the user layer.

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