According to Foresight News, Nubit, a Bitcoin data availability layer project, has completed its angel round of financing. The specific amount raised has not been disclosed, but participants in the funding round included Bounce Finance and Domo. Nubit's developer, Riema Labs, plans to collaborate with major industry players and participate in various blockchain projects.
Nubit uses Bitcoin as the underlying trust layer to improve data availability layer authentication and sampling. The team ensures data security by gradually uploading proofs of all Nubit data blocks to Bitcoin, eliminating the need for reliance on third parties.
