Leading Web3 modular infrastructure company 0G is happy to announce the completion of a successful investment round of over $35 million, made possible by the backing of several influential Web3 pioneers. Hack VC, No Limit Holdings, Arca, NGC, Paramita, Foresight, Crypto Banter, Joe Takayama, Santiago Santos, Alliance, Orange, Symbolic Capital, Delphi Digital, Dao5, Gumi, Dispersion Capital, OKX Ventures, and GSR are among the major players. With the goal of establishing a decentralized cap table, 0G enabled the platform to collaborate with several powerful investors in the industry.
0G is focused on finding solutions to the major issues required to deploy on-chain AI applications in the Web3 ecosystem, as well as infrastructure scalability via modularity. The need for off-chain verification of executed states has led to a difficulty with data availability (DA), which is at the heart of this challenge. This problem highlights the bigger limitation, which is the trade-off between blockchain systems’ security and scalability. As more data-intensive on-chain apps find more use cases to be deployed, such as decentralized AI applications, high frequency DeFi, onchain gaming, and data-intensive Layer 2 networks, this trade-off will only become more pressing.
By combining a general-purpose storage layer and a data publishing lane with a data availability layer, 0G, or ZeroGravity, has removed the forced trade-off between security and scalability. 0G greatly enhances its scalability and manages massive data flows by decoupling these essential data availability duties. By doing this, a Data Availability System is produced that may more effectively assure consumers that a certain piece of data is accessible to everyone wishing to get it.
Because of the chain’s transparency and immutability, 0G paves the way for on-chain AI, which will be essential to creating reliable AI. It does this while maintaining high security and throughput. There is now no alternative way that can provide reliable AI, and as AI applications advance, this will become an increasingly significant problem. With a throughput of 50 gigabytes per second compared to 1.5 megabytes per second for rivals, 0G is 100 times less expensive and 50,000 times faster than competitors.
Ed Roman, Managing Partner at Hack VC stated:
“0G is positioned as the premier modular data availability solution for web3, including the next frontier of crypto-powered AI network. Their data availability technology has shown to achieve speeds 1000x+ faster and cheaper than ETH L1, which is simply phenomenal. We’re proud to be their partners in this journey, and can’t wait to see their ecosystem thrive as the team pushes forward towards main-net.”
A significant portion of 0G’s success may be attributed to its distinctive team members, who have extensive backgrounds in Web3, technology, finance, and other fields. The members of the leadership team have developed their careers at prominent companies including IDEO, Microsoft, Bain, Bridgewater Associates, Harvard Business School, and Stanford. The members have started a number of unicorn businesses that have raised over $200 million and hired over a thousand workers. The team has received several honors, including top computer science paper awards and Olympic gold medals in informatics, in addition to competitive research. Due to the team’s extensive and varied expertise, issues that were previously unsolvable have been resolved, laying a solid basis for the next phase of Web3 evolution—high dataflow, on-chain applications.
Source: https://thenewscrypto.com/0g-labs-secures-35m-pre-seed-funding-to-develop-modular-ai-blockchain/