Blockchain infrastructure startup Layer has raised $6 million to create developer tools that support full-stack decentralized applications on Ethereum.
Layer, a blockchain infrastructure startup, has raised $6 million in a seed round led by 1kx, with participation from Fabric Ventures, Arrington Capital, and Stake Capital Group.
In a press release shared with crypto.news, the firm said it plans to use the proceeds to extend the capabilities of Ethereum by creating developer tools that support full-stack decentralized applications using Web Assembly.
Founded by blockchain veterans Sam Cassatt, Jake Hartnell, and Ethan Frey, Layer’s platform is expected to enable developers to build more complex decentralized applications that rely on off-chain computation, addressing the limitations of current smart contracts. The Layer SDK will allow applications to combine blockchain security with off-chain services like AI agents and decentralized messaging servers.
“We wanted to complete the full narrative arc of decentralized architecture, and give the world the tools necessary to build any application, with any performance requirements in this trust-minimized way.”
Sam Cassatt, co-founder of Layer
Layer gains angel backing to develop full-stack Ethereum SDK
The funding round also saw backing from angel investors, including Sreeram Kannan of EigenLayer, Mike Silagadze of Ether.fi, and former BlackRock executive Paul Taylor. The team says their upcoming product, known as the “Layer SDK,” will allow developers to build new layers on top of Ethereum that run full-stack blockchain-based applications consisting of smart contracts, consensus mechanisms, UI, and verifiable off-chain services.
The funding comes as concerns grow over hidden vulnerabilities in smart contracts, with bad actors increasingly exploiting them to lure victims. In late September, analysts at blockchain firm Trugard Labs identified over 34,000 high-risk vulnerabilities in smart contracts rolled out on Base during August. Hidden balance updates and minting manipulations were also detected across Ethereum and BNB Chain (formerly Binance Smart Chain, BSC), though in smaller numbers.
Source: https://crypto.news/crypto-startup-layer-secures-6m-to-solve-limitations-of-smart-contracts/