The Bitcoin scaling protocol QED has completed a $6 million seed round financing, with participation from Blockchain Capital

ChainCatcher news, according to The Block, the Bitcoin scaling protocol QED has completed a $6 million seed round financing, with Blockchain Capital as the sole investor, achieving a valuation of "nine figures," or at least $100 million. Previously, QED had raised $3.25 million in a Pre-seed round from institutions such as Arrington Capital, StarkWare, and Draper Dragon, as well as $1.35 million in an angel round from institutions like Sparkle Ventures, supported by Animoca Brands.

It is reported that QED Protocol focuses on zero-knowledge proof verification technology, aiming to enable decentralized exchanges, DeFi, and other applications on Bitcoin through the Taproot upgrade. Founder Carter Feldman stated that QED Protocol can process over 150,000 transactions per second and plans to launch a testnet in the next 3-4 months, with the mainnet going live after community consensus is reached, along with the launch of a native token to incentivize the operation of high-performance infrastructure. QED is headquartered in Hong Kong, has over 30 full-time employees in the Greater Bay Area, and plans to open its first office in Texas, USA.