Nomad, a security-first cross-chain messaging protocol, announced today crypto industry giants Coinbase Ventures, OpenSea, Crypto.com Capital, Wintermute, Gnosis, Algaé, and Polygon as participants in their April 2022 $22.4 million seed round.

“Because Nomad provides a trust-minimized protocol for cross-chain messaging, there are potential applications that go well beyond just token bridging,” said Anurag Arjun, co-founder of Polygon. “We look forward to seeing some of those exciting new use cases come to life on-chain.”

Marketing Technology News: MarTech Interview With Vibhor Kapoor, Chief Marketing Officer at AdRoll, a division of NextRoll

“Our team is comprised of some of the most renowned experts in the interoperability space, and their work is bringing us closer to a world where cross-chain communication can be done securely and cost-efficiently.”

Nomad’s primary goal is to create a safer crypto ecosystem where blockchains can communicate seamlessly and securely with each other. With more than $1.5 billion stolen this year by hackers exposing vulnerabilities in cross-chain bridges, the industry is in need of security-first solutions that maximize the safety of users, funds, and messages.

“Nomad’s optimistic security model is the gold standard for trust-minimized cross-chain communication,” said Pranay Mohan, CEO and co-founder of Nomad. “Our team is comprised of some of the most renowned experts in the interoperability space, and their work is bringing us closer to a world where cross-chain communication can be done securely and cost-efficiently.”

Secure cross-chain messaging is key to uniting DeFi ecosystems and unlocking the true power and potential of blockspace across chains. Nomad’s protocol is tackling this head-on, utilizing optimistic verification to provide a high level of security that allows watchers to challenge messages via on-chain fraud proofs, without relying on custodians or validators. Unlike validator-based cross-chain bridges, Nomad only requires a single honest watcher to keep the entire system safe.

Marketing Technology News: A Marketer’s Guide To Developing Social Media Mitigation Strategies