INTMAX manages to obtain $5M through the seed round

INTMAX happens to have successfully obtained for itself an amount, to the tune of $5 million, through a seed round. This amount will now duly be utilized for the creation of a stateless zkRollup. The entity happens to be in the process of building an upgradable zkRollup and which will happen to be an integral part of a fresh Ethereum-oriented framework. Incidentally, it happened to be the CEO of Ryodan Systems AG, Leona Hioki, who carried out the official announcement. In the case of the uninitiated, Ryodan Systems AG happens to be the organization that is responsible for the zkRollup project.

zkRollups happen to be gaining a lot of popularity in the form of a Layer2 solution for Ethereum. It utilizes zero-knowledge proofs. In the case of the stateless zkRollup of INTMAX, it has the capacity to make a combination of a very high degree of upgradability, along with customizable privacy. This happens to be a rarity in the case of normal zkRollups.

At the present moment in time, the Ethereum layer1 happens to be having approximately 100,000 users on a daily basis. This is an extremely low count, and it could be due to the increased gas fees. In the case of INTMAX, they feel the solution lies in making provision for programmable property rights in the case of the users. A while back, blockchains were known to put decentralization at risk just to be able to have upgradability. However, in the current situation, users are beginning to understand the capabilities of Layer2 solutions in terms of upgrading while holding on to decentralization. 

In the present scenario, INTMAX happens to have the capacity to raise the number of users on a daily basis to 1 billion. This can be achieved with the offering of better services, as compared to the other upgradable Layer2 technologies. The aim for them is to make the entity the topmost universal financial framework globally.     

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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