Ethereum research company Chainbound raised 4.60 million US dollars, with Cyber Fund leading the investment.

Deep Tide TechFlow News, on August 26, according to The Block, the crypto R&D company Chainbound announced the completion of a $4.60 million seed round financing, led by Cyber Fund, with Maven 11, Robot Ventures, and Bankless Ventures participating. Chainbound is developing a protocol called Bolt, aiming to achieve transaction pre-confirmation on Ethereum, reducing transaction confirmation time from an average of 7 seconds to sub-second level.

The co-founder of the company, Paul Burlage, stated that pre-confirmation technology allows users to receive confirmation before transactions are added to the Ethereum block, particularly suitable for transactions such as transfers, minting, and authorizations. Bolt is planned to launch first on the Helder testnet and is expected to be released on the Ethereum mainnet by the end of this year. This technology originated from the concept proposed by Ethereum Foundation researcher Justin Drake at the end of 2023, aiming to reshape the transaction packaging mechanism and enhance user experience.