From Investing.com: 2024-05-09 13:30:45

Arch, the first Bitcoin-native application platform, has raised $7M led by Multicoin Capital to build the ArchVM, enabling bridgeless applications on the Bitcoin blockchain. This platform eliminates the need for users to bridge assets to utilize DeFi, providing a more seamless and secure experience while leveraging Bitcoin’s security and liquidity.

The introduction of Taproot upgrade in November 2021 and Ordinals in January 2023 paved the way for turing-complete applications on Bitcoin, with over 50 Bitcoin “Layer 2 Networks” now in development. Arch, as the first bitcoin-native application platform, offers bridgeless trading directly on the Bitcoin blockchain, enhancing security, speed, and verifiability for users and developers.

Arch Network utilizes zk-proofs to enhance Bitcoin-native programmability, with components such as Rust-based zkVM allowing for trustless execution directly within the Bitcoin blockchain. This approach preserves Bitcoin’s security and liquidity while enabling rapid and fully-verifiable applications, attracting excitement and interest from developers seeking a secure and decentralized platform for dApps.

Multicoin Capital recognizes Arch’s value as a secure and Bitcoin-aligned platform for developers seeking robust solutions without sacrificing security for speed. Projects like Liquidium are already migrating to Arch, incorporating liquidity pools to support various financial transactions and paving the way for future dApps in the Bitcoin ecosystem. The Arch Foundation plans to support the growing ecosystem through hackathons and grant programs.

Read more at Investing.com: Arch Raises $7M Led By Multicoin Capital To Build The First Bitcoin-Native Application Platform By Chainwire