• VRRB Labs, a decentralized protocol that combines speed, scalability, and decentralization without sacrificing security, has raised $1.4 million in pre-seed funding.
• VRRB leverages a unique “Proof of Claim” consensus algorithm to achieve unmatched speed and scale, both vertically and horizontally.
• The seed funding will enable the company to further scale its development and marketing teams and build out an educational program for developers interested in building on VRRB’s platform.
VRRB Labs Raises Pre-Seed Funding
VRRB Labs (“VRRB”), a decentralized protocol that combines speed, scalability, and decentralization without sacrificing security, today announced that it has raised $1.4 million in pre-seed funding to support its development of an innovative blockchain that will make it easy and financially sustainable for developers to build user-friendly applications. Investors in VRRB include Jump Crypto, Taureon, and Big Brain Holdings (“Big Brain”).
The Blockchain Trilemma
Despite the incredible advancements of blockchain technology, even the most sophisticated blockchain networks still fall victim to the blockchain trilemma—unable to achieve scalability, security, and decentralization simultaneously. Developers also face incredible friction when looking to build in Web3. According to the Electric Capital 2022 Web3 Developer report, there are fewer than 10,000 full-time web3 developers as well as fewer than 30,000 monthly active web3 developers.
VRRB’s Innovations
VRRRB’s technology and developer experience take direct aim at solving these two concerns by leveraging a unique “Proof of Claim” consensus algorithm which achieves unmatched speed and scale both vertically and horizontally while implementing a novel approach to smart contract DevOps execution by isolating each smart contract in its own containerized runtime with its own micro virtual machine built particularly for the program in focus.
Seed Funding Utilization
The seed funding will enable the company to further scale its development and marketing teams as well as building out an educational program for developers interested in building on VRRB’s platform so they can design deliver next generation apps with ease thus achieving mass adoption of crypto industry products faster than ever before.
Statement from Founder
“The crypto industry keeps asking where the next billion users will come from but they’re putting the cart before the horse,” said Andrew Smith (Founder of VRRB). “Before mass adoption we need more developers who can help design & deliver the next generation of apps.”