Binance Labs, the venture capital and incubation arm of the esteemed cryptocurrency exchange Binance, has confidently led a remarkable $10 million funding round for Neutron. This cross-chain smart contract platform focuses on bolstering interchain security within the Cosmos ecosystem.
Joining forces with Binance Labs, CoinFund also played a prominent role in co-leading this substantial funding initiative. The statement released by Neutron reveals that the proceeds will be instrumental in propelling the development of their cutting-edge blockchain software and fostering exponential growth within their ecosystem.
Neutron, having successfully launched its mainnet in May, stands as a game-changing cross-chain smart contract platform. By harnessing the interchain security feature of the Cosmos ecosystem, known as Replicated Security (RS), Neutron empowers developers to construct smart contracts and decentralized applications (dapps) within a secure and cost-effective environment.
What sets Neutron apart is its remarkable interoperability across the 51 blockchains interconnected through Inter-Blockchain Communication (IBC) within the Cosmos network. This pivotal attribute enables seamless cross-chain functionality for smart contracts, facilitating a whole new level of innovation and collaboration.
Avril Dutheil, the esteemed founding contributor of Neutron, emphasized the platform’s mission to overcome the primary obstacles faced by smart contract developers in Cosmos: security vulnerabilities, lack of credible neutrality, and limited access to cross-chain infrastructure. Dutheil highlighted how Neutron successfully addresses the first two challenges through the utilization of RS, while their cross-chain infrastructure effortlessly enables smart contracts to leverage the full potential of IBC.
The investment round also attracted notable participants, including Delphi Ventures, LongHash Ventures, Semantic Ventures, and Nomad Capital. With such substantial support from industry-leading investors, Neutron is poised to revolutionize the smart contract landscape within the Cosmos ecosystem and beyond.