The $9 million USD financing round for TEN, an encrypted Ethereum Layer 2 network, is headed by the digital giant R3. The Ethereum Layer 2 roll-up platform TEN from Obscuro Labs addresses important scalability and encryption problems in blockchain applications. Since TEN’s founding, R3, a group of 42 of the biggest banks in the world exploring blockchain-based RWA tokenization and CBDC, has been a key backer.
With extensive expertise, R3, the company that created the industry-leading tokenization platform Corda, is home to more than half of TEN’s senior staff. Notable investors including Republic Crypto, KuCoin Labs, Big Brain Capital, DWF Labs, and Magnus Capital are supporting the investment round in addition to R3.
TEN offers speed, security, adaptability, and privacy not found in other Layer 2 solutions at the moment, striking a balance between ZK-Rollups and optimistic-based L2s. With capabilities like immediate bridges, secure random number generation, and confi
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