Binance Web3 Reality Program is Won Through Private ID Verification
Startups participated in Build The Block, a metaverse-based Web3 reality program, for an investment from BINANCE Labs.
Binance, a cryptocurrency exchange, has crowned the winner of their metaverse-based Web3 reality program "Build the Block." As part of the exhibition, businesses fought for the opportunity to get funding from Binance Labs.
Binance announced to Cointelegraph that zkPass, a decentralized identity verification system that protects privacy, has won the contest with the most votes. The startup is built around multiparty computation and zero-knowledge technologies.
According to Joshua Peng, co-founder of zkPass, the financing would assist the firm in developing a decentralized infrastructure. Peng elaborated:
"We are not only thrilled to be a part of the first pitch ever done in a real-time metaverse series, but we are especially honored to win Build The Block and have the opportunity to work closer with Binance Labs."
Binance chief business officer Yibo Ling, who also served as a judge in the competition, stated that Binance is excited to witness the winner's progress. "We want to lay the groundwork for scalable, sustainable ecosystems, specifically those enabled by zero-knowledge proof techniques," Ling explained.
Binance Labs also made investment proposals to four additional candidates, including Mind Network, a decentralized privacy-preserving data lake; Kryptoskatt, which streamlines Web3 banking; Bracket Labs, a DeFi platform maker; and dappOS, an operating protocol.
Anoma, a blockchain technology, has received money to continue developing its design. The Swiss organization collected $25 million on May 31 to develop a standardized "intent-centric" blockchain architecture. When compared to previous smart contract protocols, Anoma co-founder Adrian Brink claims that the platform's third-generation design delivers higher composability and simplicity of use.
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