TechFlow reports that ZKM, an Ethereum scaling solution, has raised $5 million in a Pre-A round to launch a Bitcoin-based Layer 2 network. The round was led by OKX Ventures, with participation from Amber, Metis Foundation, Crypto.com, and others.
Notably, ZKM is a zero-knowledge proof-based network designed to unify blockchains by creating a settlement layer on Ethereum. As part of this initiative, ZKM is developing a specialized transaction processing network called "entangled rollups." Starting with its upcoming L2, the project claims this network will be built on the Bitcoin blockchain.
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