TechFlow News — According to CoinDesk, Webb Protocol, a privacy-focused cross-chain protocol powered by zero-knowledge proof technology, has raised $7 million in funding. The round was co-led by Polychain Capital and Lemniscap, with participation from Zee Prime, CMS Holdings, and others.
The new capital will help the team grow and accelerate development of new privacy-centric tools. Webb provides a cross-chain bridging protocol designed to set a new privacy standard for cross-chain applications, covering all assets, data, and locations.
Webb’s protocol is powered by zero-knowledge proofs—a cryptography method that mathematically verifies transactions without revealing their content. The startup plans to expand its offering to include a cross-chain messaging system capable of verifying data stored within systems.
