{"id":15573,"date":"2024-03-16T08:55:50","date_gmt":"2024-03-16T08:55:50","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=15573"},"modified":"2024-03-16T08:55:50","modified_gmt":"2024-03-16T08:55:50","slug":"ethereum-layer-2-ten-raised-30-million-dollars","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ethereum-layer-2-ten-raised-30-million-dollars\/","title":{"rendered":"Ethereum Layer-2 TEN Raised 30 Million Dollars"},"content":{"rendered":"

TEN, the encrypted Ethereum<\/a> Layer-2 network emphasizing encryption, has reached a token valuation of $30 million after its latest funding round.<\/p>\n

Obscuro Labs, the organization behind TEN, received an investment of $9 million in several tranches of funding. Co-founder Gavin Thomas announced that the latest tranche of around $3 million was completed in December, bringing Obscuro’s token valuation to $30 million.<\/p>\n

The funding round was led by institutional blockchain firm R3, with participation from Republic Crypto, KuCoin Labs, Big Brain Holdings, Magnus Capital and DWF Labs. According to a spokesperson, R3 in particular spearheaded the investment initiative.<\/p>\n

Thomas explained that the funding was structured as simple deals for future equity (SAFE) with token warrants. He also emphasized that the involvement of DWF Labs, a controversial entity, took place before any controversy and that their role as a market maker is not related to Obscuro’s operations.<\/p>\n

TEN, short for “The Encrypted Network”, is an Ethereum Layer 2 solution focused on encryption. It empowers developers to selectively encrypt smart contract components and keep others public.<\/p>\n

What is TEN?<\/h2>\n

The technology underlying TEN is based on secure enclaves that provide robust confidentiality and enable the Ethereum<\/a> Virtual Machine to execute in an encrypted environment. This approach offers smart contracts, decentralization, scalability and encryption at the same time.<\/p>\n

TEN’s distinguishing feature lies in its use of secure enclaves, which distinguishes it from privacy-oriented networks such as Aztec and Fhenix, which leverage zero-knowledge proofs and fully homomorphic encryption, respectively.<\/p>\n

By adopting secure enclaves, TEN aims to revolutionize various industries, including on-chain gaming, decentralized finance, real-world assets, and institutional use cases. This innovation promises to expand the realm of possibilities in the blockchain environment, while maintaining a user and developer experience similar to Ethereum.<\/p>\n

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Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don\u2019t forget to follow us on\u00a0Telegram<\/strong><\/a>,\u00a0YouTube<\/strong><\/a>\u00a0and\u00a0Twitter<\/strong><\/a> for the latest news and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

TEN, the encrypted Ethereum Layer-2 network emphasizing encryption, has reached a token valuation of $30 million after its latest funding round. Obscuro Labs, the organization behind TEN, received an investment of $9 million in several tranches of funding. Co-founder Gavin Thomas announced that the latest tranche of around $3 million was completed in December, bringing<\/p>\n","protected":false},"author":6,"featured_media":13660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[105,4963,4962],"class_list":["post-15573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-ethereum","tag-ethereum-layer-2","tag-ten"],"yoast_head":"\nEthereum Layer-2 TEN Raised 30 Million Dollars - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Ethereum Layer-2 protocol TEN raised 30 million dollar in investment. 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