PANews reported on August 13 that blockchain infrastructure Essential announced the completion of a US$11 million Series A financing round, led by Archetype, with participation from IOSG, Spartan, Mirana, Amber Group, Maven 11, Bodhi Ventures, Big Brain Holdings, Heartcore Capital, Selini, DCLM and PropellerHeads, as well as founders and angel investors from companies such as Celestia, Hashflow, Enso, Barter, LI.FI, Astaria, GlueX, Bebop, Sorella and others.
Essential launched the intent-driven blockchain infrastructure and Essential Devnet (development network), aiming to make blockchain technology more intuitive and easy to use through declarative architecture. The newly developed Pint language provides constraints for programmable intents to optimize the user and developer experience. Essential plans to promote the next paradigm shift in blockchain by reducing on-chain computation and improving scalability.
