According to PANews, Bitcoin Layer-2 developer Alpen Labs has announced the completion of its stealth mode after raising $10.6 million in funding. Over the past year, the company has been dedicated to developing Bitcoin Rollup infrastructure, aiming to introduce smart contract functionality to the network. The funding round was led by Ribbit Capital, with participation from Castle Island Ventures, Robot Ventures, and Axiom Capital.
Alpen Labs uses zero-knowledge proof technology to expand the Bitcoin blockchain. This technology allows for secure and rapid data transmission between parties, enhancing transaction speed and reducing costs through the Rollup network. The company's focus on developing Bitcoin Rollup infrastructure is part of its broader commitment to enhancing the functionality and efficiency of the Bitcoin network.