On June 21, 2023, Binance Labs and CoinFund led a $10 million round of funding for Neutron, a cross-chain smart contract platform built on the Cosmos ecosystem. The funds will be used to support the development of Neutron's blockchain software and promote the growth of its ecosystem.
Neutron is a cross-chain smart contract platform that uses the Cosmos ecosystem's cross-chain security feature, Replicated Security (RS). This allows developers to create smart contracts and decentralized applications (dapps) in a cost-effective and secure environment. Neutron is interoperable across the 51 blockchains within the Cosmos network that are connected via Inter-Blockchain Communication (IBC).
The funding from Binance Labs and CoinFund is a major endorsement for Neutron and its potential to become a leading cross-chain smart contract platform. The funding will help Neutron accelerate its development and reach a broader audience of developers and users.
Here are some of the key benefits of Neutron:
Cost-Effective: Neutron uses the cross-chain security feature of the Cosmos ecosystem, making it a more cost-effective option for developers than other cross-chain smart contract platforms.
Secure: Neutron is backed by the security features of the Cosmos ecosystem, making it a safer choice for developers than other cross-chain smart contract platforms.
Interoperable: Neutron is interoperable across all 51 blockchains within the Cosmos network, making it a more versatile option for developers than other cross-chain smart contract platforms.
Source:
https://www.coindesk.com/business/2023/06/21/binance-labs-coinfund-lead-10m-round-for-smart-contract-infrastructure-firm-neutron/
