The innovative layer one (L1) blockchain passes intense due diligence to help build a more open and secure Web3
Waterfall Network, the fast flowing Layer 1, scalable, completely decentralized smart contract platform, announced it has raised 2 Million USD in a Series Pre-A Investment Round led by strategic lead investor, ByteTrade Lab, an infrastructure provider for the end user-controlled web. Waterfall Network is using the ongoing funding to accelerate its inaugural mainnet launch targeted for Q1 2024. ByteTrade conducted an extensive six-month due diligence process that successfully tested EMV-compatible DApps and assessments of both the Waterfall team and its technological infrastructure ahead of its investment.
“ByteTrade Lab’s investment in Waterfall Network is not just a strategic move, it’s a bold declaration of our commitment to the decentralized web that we’re building to grant users increased access and full control over their data,” said Dr. Lucas Lu, CEO of ByteTrade Lab. “Smart contracts are the cornerstone of trust and autonomy in the digital age, and our commitment to this technology reflects our dedication to reshaping the digital landscape. This is a bold step toward a more open, secure, and limitless digital frontier.”
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“We look forward to the expertise and resources ByteTrade can offer as an engaged partner that will strengthen and improve on Waterfall’s innovative approach to building a new kind of layer one blockchain,” said Blue Sergii Grybniak, Blue Wave CTO and Waterfall Head of Research.
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BlueWave, a corporation functioning as a leading development house for enhanced L1 blockchain solutions and decentralized architecture, fills a unique void in the space by solving security, unlimited scalability and decentralization while providing a truly decentralized governance platform via Waterfall Network. Waterfall’s innovative approach includes a “one person one vote” consensus mechanism in which money can’t buy control. Its protocol is Ethereum Virtual Machine (EVM) compatible, serving the huge existing Ethereum developer base without having to learn new programming languages. BlueWave protocol incorporates an innovative “Directed AcyclicGraph (DAG)” technology that allows for unlimited scalability. Furthermore, its low processing power requirements allow anyone to run a validator node from low-cost laptops and mobile phones.
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