Quick take:
- The company plans to use the capital to advance the development of a new blockchain designed for “internet-scale dApps”.
- The company wants to make developing decentralised applications as easy as building web2 apps.
- Dubbed Rialo, the layer-1 blockchain will leverage RISC-V and the Solana virtual machine compatibility.
Subzero Labs, the Web3 startup building a “friendly blockchain,” has emerged from stealth with $20 million in funding led by Pantera Capital, the Block reported. The fundraising also attracted participation from popular Web3 venture firms, including Coinbase Ventures, Fabric Ventures, Mysten Labs, Susquehanna Crypto, and Variant.
Subzero Labs plans to use the fresh capital to accelerate the development of Rialo, “a radical rethinking of decentralized programmable networks” that brings “the responsiveness and reactivity of Web2,” apps to the blockchain.
Subzero’s goal is to make developing decentralised applications as easy as building web2 apps.
“From tokenized assets to prediction markets, to global trading platforms, to AI agent orchestration, developers can build with familiar tools while delivering apps that outperform their centralized counterparts in both cost and user experience,” Subzero wrote in a statement on Friday.
Rialo is being built using RISC-V, the same instruction set architecture for smart contracts that Vitalik Buterin wants Ethereum to transition to, in tandem with the Solana virtual machine (VM) compatibility, which is designed for scalability.
“Rialo is the only full-stack network for real-world applications – built by leading industry developers for developers,” said Paul Veradittakit, managing partner of Pantera Capital. “It’s rare to see such a high concentration of talent to drive this vision. We believe under Ade and Lu’s leadership, the Subzero Labs will deliver the infrastructure that finally empowers developers to create decentralized products that are intuitive, useful, and relevant to everyday users.”
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