Close Menu
AlexaBlockchain
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
Facebook X (Twitter) Instagram
Sunday, June 1
  • Advertise
  • Crypto PR
  • Partner
  • Submit Press Release
  • Contact Us
X (Twitter) Facebook LinkedIn Instagram
AlexaBlockchain
Banner
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
AlexaBlockchain
You are at:Home » Waterfall Network Raises $2M Funding Ahead of its 2024 Mainnet Launch
Investment & Funding

Waterfall Network Raises $2M Funding Ahead of its 2024 Mainnet Launch

ByteTrade Lab leads Series Pre-A Investment after a rigorous six-month due diligence.
Ravi KumarBy Ravi KumarNovember 1, 2023Updated:November 1, 2023No Comments3 Mins Read
Twitter Facebook LinkedIn Reddit Email WhatsApp
Waterfall Network Raises $2M Funding Ahead of its 2024 Mainnet Launch
Waterfall Network Raises $2M Funding Ahead of its 2024 Mainnet Launch. Photo: Sergii Grybniak, Blue Wave CTO and Waterfall Network Head of Research
Share
Twitter Facebook LinkedIn Pinterest Reddit Telegram Email WhatsApp

Quick Take

Waterfall Network, a Layer 1 decentralized smart contract platform, has raised $2 million in a Pre-Series A round led by ByteTrade Lab to expedite its mainnet launch set for Q1 2024. This comes after ByteTrade’s thorough six-month evaluation of Waterfall’s technology. The partnership aims to advance the decentralized web, with Waterfall’s unique “one person one vote” consensus and BlueWave’s scalable “Directed Acyclic Graph” tech.

In a significant move toward a more decentralized and user-controlled web, Waterfall Network, a Layer 1 decentralized smart contract platform, disclosed that it has secured $2 million in a Pre-Series A Investment Round. The funding round was spearheaded by ByteTrade Lab, a foremost infrastructure provider championing the end user-controlled web.

The capital injection will be pivotal in accelerating the launch of Waterfall Network’s mainnet, which is slated for Q1 2024.

Notably, ByteTrade Lab’s decision to lead the investment came after an exhaustive six-month due diligence phase. This process included rigorous testing of Ethereum Virtual Machine (EVM)-compatible Decentralized Applications (DApps) and thorough assessments of Waterfall’s team and technological backbone.

Dr. Lucas Lu, ByteTrade Lab’s CEO, illuminated the strategic underpinnings of this investment, emphasizing their commitment to an unbridled decentralized web. He mentioned that Smart contracts are indispensable for fostering trust and autonomy in our increasingly digital world.

“Our commitment to this technology reflects our dedication to reshaping the digital landscape. This is a bold step toward a more open, secure, and limitless digital frontier,” Lucas Lu, added.

Sergii Grybniak, Blue Wave CTO and Waterfall Head of Research, said: “We look forward to the expertise and resources ByteTrade can offer as an engaged partner that will strengthen and improve on Waterfall’s innovative approach to building a new kind of layer one blockchain.”

BlueWave, a top-tier development house specializing in advanced L1 blockchain solutions, plays a crucial role in this initiative. As the cornerstone of decentralized architecture, BlueWave is tackling critical challenges around security, scalability, and decentralization. Its partnership with Waterfall Network underscores a shared vision of a more democratized and scalable blockchain ecosystem.

Waterfall’s design philosophy breaks from convention, championing a “one person one vote” consensus system that negates the undue influence of capital. Moreover, its Ethereum Virtual Machine (EVM) compatibility ensures that the vast reservoir of Ethereum developers can seamlessly transition without the steep learning curve of mastering a new programming language.

A standout feature of BlueWave’s protocol is its utilization of the “Directed Acyclic Graph (DAG)” technology. This innovation is poised to disrupt the status quo, promising limitless scalability. An added advantage is its low processing power requirement, making it feasible for individuals to operate a validator node even from basic devices like budget laptops or smartphones.

Waterfall Network’s collaboration with ByteTrade and its alignment with BlueWave positions it favorably in the rapidly evolving blockchain ecosystem. As the mainnet launch approaches, the industry will keenly watch how this triad influences the blockchain space and reshapes user experience in the decentralized web.

Read Also: Tenet Launches Testnet for First LSD-focused Layer 1 Blockchain

ByteTrade Lab dApps (Decentralized applications) Layer 1 Blockchain Pre-Series A Funding Sergii Grybniak Waterfall Network
Share. Twitter Facebook LinkedIn Reddit Pinterest Tumblr Telegram Email WhatsApp
Ravi Kumar
  • X (Twitter)
  • LinkedIn

Ravi is Founder and Chief Content Officer of AlexaBlockchain. He writes about everything at the cross-section of blockchain, crypto, AI, markets, and the economy. Ravi can be reached at ravi@alexablockchain.com

More AlexaBlockchain

VOYA Games Raises $5M Co-led by 1kx, Makers Fund

May 21, 2025

Animoca Brands Invests in Astar to Boost Sony’s Web3 Entertainment Push

May 21, 2025

Pharos Launches Testnet to Power Scalable RWA Tokenization

May 16, 2025

Antix Raises $8.2M to Launch Tokenized Digital Humans

May 14, 2025

SOL Strategies Inks $500M Deal with ATW Partners

April 23, 2025

XYO Breaks from Ethereum to Launch Data-Focused L1

April 15, 2025
Add A Comment

Comments are closed.

Don't Miss

QFSCOIN Launches Affordable Cloud Mining Contracts to Democratize Bitcoin Access

Liquidium Launches Cross-Chain Bitcoin Lending Without Wrapped Tokens or Bridges

Katana Launches High-Yield DeFi Blockchain Backed by GSR and Polygon Labs

Sony’s Soneium Brings Viral Telegram Game Sleepagotchi to 200M Users via LINE

Trending Topics
  • Blockchain News
  • Blockchain Technology
  • Blockchain Platforms
  • Blockchain Regulation
  • Bitcoin News
  • Ethereum News
  • Ripple News
  • Tezos News
  • CBDC
  • NFTs
Featured Companies
  • Binance
  • Tech Mahindra
  • Huobi
  • Efforce
  • Future FinTech Group
  • SuburbanColors
  • Launchpool Labs
  • Lucky Crab Club
  • SIMBA Chain
  • Bulldog Law
Stay Updated
  • Events
  • Newsletters
  • Follow
  • Follow on Google News
  • Blockchain Directory
Get In Touch
  • Crypto PR
  • Advertise
  • Partner
  • About
  • Masthead
  • Careers
  • Write for Us
  • Submit Press Release
  • Submit Guest Post
  • Contact US
Copyright © 2025. AlexaBlockchain
  • About
  • Advertise
  • Crypto PR
  • Submit Press Release
  • Write for Us
  • Careers
  • Privacy Policy
  • Affiliate Disclosure
  • Disclaimer
  • Contact

Type above and press Enter to search. Press Esc to cancel.