Firewall Raises $3.7 Million To Take Smart Contracts Mainstream With Programmable Finality
March 7, 2024 – San Francisco, California
Firewall, a blockchain infrastructure startup, announced its $3.7 million pre-seed round, co-led by North Island Ventures, Breyer Capital, and Hack VC. The funding aims to address the crucial challenge of smart contract security, which is often seen as the last major obstacle to their widespread adoption.
Introducing Programmable Finality for Enhanced Security
The concept of ‘programmable finality’ introduced by Firewall is a game-changer in the smart contract space. It promises to make exploits obsolete by acting as a robust network firewall for the modular blockchain ecosystem. This innovative technology uses automated checkpoints that prevent harmful transactions, preserving the integrity of the smart contract networks.
Expertise Behind the Startup
The founders of Firewall are not new to the blockchain scene. With rich backgrounds from Staked, a staking company acquired by Kraken, they bring their expertise in handling large-scale institutional infrastructures to Firewall. Their experience is set to transform how smart contracts are viewed and used by mainstream financial entities.
Firewall’s initial focus is on the rollup ecosystem, with a mission to create non-custodial and trustless solutions. The raised funds will help the startup to build its team and develop the technology needed to ‘firewall the EVM’ – Ethereum Virtual Machine.
The Impact on Institutional Adoption
One of the significant hurdles for institutional adoption of smart contracts is the need for a secure and reliable environment to deploy capital. Firewall’s solution offers just that, potentially becoming the pivotal point for widespread adoption of digital assets.
Support and Vision from Investors
Investors like North Island Ventures and Breyer Capital see Firewall’s solution as essential for crypto’s mainstream adoption, as it can prevent the total loss of user funds due to security exploits. Their support is not just financial but also a belief in Firewall’s vision to make blockchains safer for users, developers, and institutions.
Looking Towards a Future-proof Economy
As the crypto industry continues to evolve under regulatory scrutiny, it’s imperative that security measures keep pace. Firewall’s ‘programmable finality’ is poised to offer the safety needed to unlock trillions of dollars worth of assets that have been sidelined due to security fears, ushering in a new era of financial revolution.
For more information about Firewall and their innovative approach to smart contract security, please visit their website or contact Devan Purhar, co-founder of Firewall.