Privacy blockchain project Seismic completes $7 million seed round financing, led by a16z crypto

Seismic announced the completion of a seed round financing of $7 million, led by a16z crypto, with participation from Polychain, NGC Ventures, dao5, and 1kx. The funds will be used to develop encrypted blockchain. Seismic aims to address the issue of transaction transparency faced by the current L1 blockchain by implementing end-to-end encryption to ensure the privacy of all transaction data on the chain and prevent the exposure of user data. The team members come from well-known companies such as Wintermute and have extensive experience in cryptography, compilers, and distributed systems. The official statement states that this financing will accelerate the construction of the Seismic ecosystem, making it an important infrastructure for future privacy blockchain.