Cryptocurrency exchange Binance announced the winner of its Web3 reality show, titled “Build the Block”, going down within the metaverse. As a part of this system, start-ups competed with one another for investment from Binance Labs.
In a message sent to Cointelegraph, the Binance team said zkPass won the competition after receiving probably the most votes in the competition. A decentralized identity verification solution that protects privacy won after competing with many other finalists.
Episode 6 of #BuildBlock it’s live!
This is the last clash before the grand finale, by which only two projects are fighting for a spot in the ultimate. Who shall be victorious?
It’s time to seek out out
— Binance (@binance) May 30, 2023
The startup goals to offer an identity verification solution for Web3 applications. This relies on multilateral computing and zero-knowledge-resistant technology.
Joshua Peng, co-founder of zkPass, said the investment will help them construct a decentralized infrastructure. Peng explained:
“We are usually not only excited to be an element of the primary real-time Metaverse showcase, but especially honored to win Build The Block and to work more closely with Binance Labs.”
Binance business director Yibo Ling, who also participated within the competition as a judge, said that they’re looking forward to the event of the winner of the competition. “We wish to construct the foundations of sustainable ecosystems that enable scalability, especially those which can be made possible by no-knowledge techniques,” said Ling.
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In addition to zkPass, 4 other participants received investment offers from Binance Labs. This features a decentralized privacy data lake called Mind Network, a project called Kryptoskatt that simplifies finance Web3, the developer of the decentralized finance (DeFi) platform Bracket Labs, and the operating protocol DappOS.
In other news, the Anoma blockchain protocol has provided funding to further develop its architecture. On May 31, a Swiss non-profit organization secured $25 million to construct a generalized “intent-oriented” blockchain architecture. Anoma co-founder Adrian Brink said the third-generation platform architecture provides higher composability and ease of use over existing smart contract protocols.
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