On November 7, Cytonic, a Layer-1 blockchain project, announced it had secured a $8.3 million seed round. The round was co-led by Lemniscap and Lattice. Cytonic, developed by MultiVM Labs, aims to be the first blockchain to run multiple virtual machines within the same network layer and use shared storage.
This is to solve compatibility challenges within blockchain systems. Cytonic is designed to be compatible with popular blockchains, such as Bitcoin, Ethereum, and Solana, and can process various types of transactions in a single block. The aim is to simplify on-chain interactions and reduce fees and wait times for asset transfers between chains.
