Openverse, a Layer 0 hub network designed to enable a fully open protocol-based cross-chain system, has secured 8 million in a Series B funding round . The investment brings the companys total funding to 11 million as it accelerates efforts to build the so-called Internet of Value.
A New Framework for Digital ValueUnlike Layer 1 blockchains that primarily manage their own ecosystems, Openverse functions as a foundational Layer 0 protocol. It provides the infrastructure needed to connect existing blockchains with each other and with traditional internet systems. Its goal is straightforward but ambitious, to make transferring tokens, NFTs, and even messages across blockchains as simple as sending an email.
The projects conceptual roots can be traced back to 2014, when Dr. Bright published The Public Currency Issuance Mechanism . In this work, Bright laid out the theoretical foundation for Bitcurrency VRC10, Privcurrency VRC11, Bitsecurity VRC12, and the PCIM mechanism. These ideas, once theoretical, are now being realised through the Openverse Network mainnet.