OKX Ventures makes seed round investment in Kakarot

OKX Ventures carries out a seed round funding in Kakarot, which is a Type 2.5 ZkEVM worded in Cairo. This is a Turing complete programming language. Cairo o has been created to collect into Cairo Assembly (CASM), helping to bring about implementation signs. In turn, these signs are utilized for coming out with Stark Proofs. 

Kakrot was officially established in October 2022 as a community exercise at the time of a StarkNet Hacker House. Following that, it has developed into a regular business involved in the upgradation of Ethereum. 

Due to a healthy and realistic community involvement, along with the potential of Cairo, which was created by the team of Starkware, Kakarot managed to become equivalent to complete opcode within a short span of time. Kakarot will be delivering its initial testnet, which will work as an L2 on Ethereum or an L3 on Starknet.  

Following this phase, Kakarot intends to turn into a Type 1 ZkEVM. This will provide every L1 node with the option of being able to come out with Stark Proofs. Kakarot is also scouring various ZKPs, account abstraction, and upgrading solutions that will help grow the Web3 arena. 

According to the Founder of OKX Ventures, Dora, they are glad to have received the opportunity to fund Kakarot. It has been developed on Starknet and comes with a unique code language. This helps address issues related to Starknet’s inadaptability with EVMs, making it possible for the Ethereum ecosystem to flourish on Starknet.  

OKX Ventures is an investment wing of the second-in-line crypto exchange via volume of trading and Web3 technology business and has provided OKX with a pledge of investing $100 million. 

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The firm is actively involved in scouring for high-end blockchain projects internationally. The company also backs new-age blockchain technology innovation and encourages a robust evolution of the international blockchain space and funding toward framework value.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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