According to BlockBeats, on August 8, ZK order book trading platform Vessel completed a $10 million seed round of financing, with participation from Sequoia Capital, Scroll co-founders Sandy Peng and Ye Zhang, Avalanche Foundation, Algorand Foundation, IMO Ventures, Folius Ventures, Incuba Alpha, and a group of angel investors.
The funds from this round of financing will be used to combine CEX efficiency with DEX transparency, improve liquidity efficiency, and develop advanced ZKP solutions for DeFi.
The main challenge of crypto transactions is balancing transaction efficiency with on-chain transparency. Vessel solves this problem by developing zero-knowledge proof (ZKP) technology, combining efficient off-chain transaction processing with on-chain verification to enhance security and scalability.