Kakarot zkEVM, an Ethereum virtual machine (EVM) implemented in Cairo, announced on June 2 that it has closed its pre-seed funding round. Investors include Ethereum co-founder Vitalik Buterin, Ledger co-founder and VP of innovation Nicolas Bacca, and blockchain scaling firm StarkWare.
Cairo is a Turing-complete language linked to CairoVM – Kakarot zkEVM is built on top of CairoVM. Kakarot allows zkEVM teams to build and launch applications compatible with the EVM.
Developers can build apps for Kakarot in the same way they can for Ethereum or Polygon using the programming language Solidity or any other language compatible with EVM. Once the apps are deployed, users can interact with them using common tools such as MetaMask or WalletConnect.
Kakarot uses STARK proofs to prove transactions and blocks, ensuring security and transparency. With Proof of Validity, Kakarot can take advantage of the security of Ethereum while ensuring low costs, the project said.
As per the project roadmap, Kakarot in its first phase will be an EVM on Starknet Layer 2. According to the team, bringing Kakarot zkEVMs to StarkNet will open up “a whole new range of possibilities” and expand the StarkNet ecosystem.
In the next phase, Kakarot and StarkNet’s Madara sequencers will be combined into an integrated stack to enable Layer 3 zkEVMs. The team said that integrating Kakarot and Madara will enable teams to deploy the zkEVM App Chain and conduct transactions with proofs of validity on Starknet. Detailing the benefits of the integration, the team noted:
“As a result of computing at another layer, the gas cost is (asymptotically) exponentially lower than L2, and the performance (TPS) is higher. The scalability of Rollup grows and grows.”
In the future, Kakarot aims to connect to the native Starknet protocol and enable different protocols to work together.
Posted in: Ethereum, Featured, Investing, Layer 2, Technology Writer Monica Ghosh Journalist at CryptoSlate
In 2020, Monica immersed herself in crypto, maintaining skepticism while firmly believing that blockchain could address key issues such as financial inequality and transparency. A book-lover, he is also a passionate food enthusiast.
Editor Jacob Oliver Editor at Crypto Slate
Jacob Oliver is a recovering academic and English teacher who went down the crypto rabbit hole in 2017 after recognizing the potential of the technology.
Latest Funding Stories
Core Scientific Adds 900 More Miners From LM Funding
mining 2 months ago 1 min read
REPUBLIK Raises $3.5M in Seed Funding, Raising Valuation to $75M
Invest 3 months ago 1 min read
Conflux Network’s $10M Funding Round Fuels CFX Token Growth
token 3 months ago read 1 minute
Disclaimer: The opinions of our writers are solely their own and do not reflect the opinions of CryptoSlate. Any information you read on CryptoSlate should not be construed as investment advice, nor does CryptoSlate endorse any projects that may be mentioned or linked in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to the content in this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.