TechFlow news: According to an official announcement, venture capital firm Pantera Capital has announced a $5 million investment in Everclear to support the development of its cross-chain settlement layer technology.
Everclear (formerly Connext), which has been working since 2017 to solve the problem of asset transfers between blockchain networks, has recently launched a new settlement layer—a decentralized network designed to settle and streamline cross-chain liquidity through sophisticated intent-based solutions and its proprietary Optimistic Convolution technology. The solution is expected to reduce the cost and complexity of cross-chain transactions by up to fivefold.
In addition, Everclear's settlement layer supports customizable settlement logic, allowing any blockchain to seamlessly integrate, thereby driving broad network growth.
