🎉 Cytonic has just secured $8.30M in its latest funding round! 🎉
🔹About: Cytonic is an innovative Layer 1 blockchain project launched in 2024, aiming to revolutionize blockchain interoperability. The platform is designed to create a unique ecosystem that is open to all technologies used in Web3, making it compatible with major blockchains like Bitcoin, Ethereum, and Solana. Cytonic allows different transaction types to be processed together in a single block, solving one of the most persistent challenges in the blockchain industry. The project recently raised $8.3 million in seed funding, co-led by Lattice and Lemniscap, with participation from notable investors like IOBC, Nomura, and Arthur Hayes. Cytonic is committed to enabling seamless multi-chain transactions for DeFi and dApps, enhancing the overall efficiency and utility of blockchain technology. 🚀🌐
🔹 Lead Investors: Arthur Hayes, Lemniscap, Lattice, IOBC Capital, Nomura, Lyrik Ventures and many more.
🔹 Total Raised: $8.30M.
🔹 Project Category: Layer-1 Chain, Interoperability.
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A descending triangle has formed, with key support at $3.50 - $3.60. While often signaling bearish continuation, this setup near historical lows hints at a potential accumulation zone for a trend reversal! 📈 The current price tests a major support level dating back to early 2021, which has previously fueled substantial rallies.
🔹 Buy Zone: Enter near the current price level as buyers start to defend this critical support. 🌊🔥
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Mysten Labs, a web3 infrastructure company, and BlueJay Games, a leading gaming studio, have joined forces to launch Arcade Champion, a mobile web3 arcade game, on the Sui Layer 1 blockchain. Arcade Champion is a reimagining of classic arcade games that integrates non-fungible tokens (NFTs) and play-to-own elements, making it more appealing to a wider range of players.

The game uses a hero-based system that represents each player’s unique characters with NFTs, which can be upgraded, traded, and fused. These NFTs play a critical role in both solo and dual modes of play, allowing players to accumulate bonuses and coins and attain arcade supremacy.

By leveraging Sui’s cutting-edge technology and functionality, including on-chain object and data storage, NFT-friendly infrastructure, and dynamic user-generated content support, Arcade Champion provides a seamless and immersive gaming experience for players. Additionally, Sui’s Move programming language enables quick and efficient development and execution of smart contracts, making it an ideal platform for game development.

The launch of Arcade Champion on Sui’s mainnet is set to attract a broader audience to web3 gaming by bridging the gap between Web2 and Web3 users. The game’s play-to-own elements and hero-based NFTs will be available to players on the first day of the mainnet launch.

Evan Cheng, Co-Founder, and CEO of Mysten Labs, expressed his excitement at the partnership and said that Arcade Champion’s mix of NFTs and play-to-earn incentives would propel the gaming industry forward. Michel Mailhot, CEO of BlueJay Games, added that Sui’s purpose-built gaming infrastructure, speed, and efficiency would enable them to take advantage of the massive opportunity ahead.

Mysten Labs, founded by senior executives of Meta’s Novi Research and lead architects of the Diem blockchain and Move programming language, aims to create foundational infrastructure for web3. Sui, developed by Mysten Labs, is the first Layer 1 blockchain designed to cater to the next billion users in web3 by offering a general-purpose blockchain with high throughput, instant settlement speeds, rich on-chain assets, and user-friendly web3 experiences.

BlueJay Games, based in Austin, Texas, has over 20 years of experience in the gaming industry and is dedicated to creating innovative and engaging games that appeal to a wide audience.

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This article was republished from azcoinnews.com

Layer 0 protocols are essentially the infrastructure upon which Layer 1 blockchains can be built. As a foundational layer to blockchain networks and applications, Layer 0 protocols are among many solutions aiming to fix the challenges the industry faces, such as scalability and interoperability. A blockchain ecosystem can be classified according to the following layers:

Layer 0: The underlying infrastructure upon which multiple Layer 1 blockchains can be built.

Layer 1: Base blockchains used by developers to build applications, such as decentralized applications (DApps).

Layer 2: Scaling solutions that handle activities off Layer 1 blockchains to ease their transactional loads.

Layer 3: Blockchain-based application layer, including games, wallets, and other DApps.

What Problems Can Layer 0 Solve?

> Interoperability Interoperability refers to the ability of blockchain networks to communicate with one another. This property enables a more tightly interwoven network of blockchain-enabled products and services, which in turn offers a better user experience.

> Scalability A monolithic blockchain such as Ethereum is often congested because a single Layer 1 protocol is providing all the critical functions, such as transaction execution, consensus, and data availability. This creates a bottleneck for scaling that Layer 0 can alleviate by delegating these critical functions to different blockchains.

> Developer flexibility To encourage developers to build on them, Layer 0 protocols often provide easy-to-use software development kits (SDKs) and a seamless interface to ensure developers can easily launch their own purpose-specific blockchains.

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