t3rn Raises $6.5 Million for Bridge-Free Multi-Chain Interoperability
The multichain protocol t3rn has secured $6.5m in a strategic fundraising round headed by the digital asset investment company Polychain Capital. Blockchange, Lemniscap, D1 Ventures, Huobi Ventures, Figment Capital, Bware Labs, MEXC, Open Process Ventures, NetZero Capital, and many prominent angel investors participated in this round of funding.
It’s clear that multi-chain applications are the way of the future, and t3rn is ready to accommodate this emerging paradigm in cross-chain programming. This important round of funding will go toward furthering the protocol’s ground-breaking approach to blockchain interoperability.
The t3rn project and its future
t3rn is currently working on developing an expressive protocol for making generalizable function calls across multiple chains. This is a major undertaking with huge potential benefits for the crypto community and those who work with it. With this approach, no matter how many blockchains are involved, t3rn’s SDK-like approach ensures that smart contracts may be safely and reliably exchanged between them. In addition, the protocol allows for the composition of multi-step transactions across several chains with a single call, which is not possible with bridges.
t3rn is making it possible for smart contracts to operate in the future without restricting them to a single chain or requiring the use of potentially unsafe bridges. Additionally, the project is vastly increasing developer access to numerous decentralized apps by facilitating the creation of cross-chain applications.
If layer-1 blockchains and the apps developed on top of them can communicate with one another, it will boost ecosystem efficiency and liquidity. t3RN is accomplishing this goal by fostering composability across execution environments and decreasing fragmented liquidity pools. The end goal of t3rn is to allow blockchains to work together without having to rely on each other for trust. Also, it is building a community where anybody may use and deploy an interoperable smart contract, with developers receiving equitable compensation for their work.
