0G Labs secures $35 million for AI-powered modular infrastructure

adminApril 12, 2024

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With the recent resurgence of interest in the cryptocurrency industry, startups have found themselves at the center of an investment renaissance. A striking example of this trend is the strategic emergence of 0G Labs, a startup focused on web3 infrastructure innovation. This ambitious venture garnered industry attention by securing $35 million in pre-seed funding. Recently, to show people ‘walking’ rather than just talking, presentation Testnet operational release.

The pre-seed investment of $35 million, stated by co-founder Michael Heinrich, far exceeds the initial target of $5 million to develop the underlying technology. This significant financial support highlights the market’s confidence in 0G Labs’ potential to redefine the blockchain ecosystem.

0G Labs, operating under the name ZeroGravity, is dedicated to leading the development of modular AI blockchains. This innovative platform is designed to address the inherent limitations of on-chain AI applications prevalent in the web3 space, such as speed and cost inefficiencies. The principle of modularity is at the core of 0G Labs’ strategy and provides developers with unparalleled flexibility when assembling blockchain systems or applications. 0G Labs aims to help developers tailor blockchain solutions to perfectly fit their specific needs by customizing components similar to selecting a menu item in a restaurant.

🚀 Interesting announcement #0g_labs! 🚀
We are excited to launch testnet Newton, an ultra-high data throughput blockchain optimized for on-chain AI. 🙂 We know that’s really cool 😉.
Please join us in shaping the future of AI and blockchain technology!
👉 Explore… pic.twitter.com/DyfIjX6n4E
— 0G Labs (@0G_labs) April 9, 2024

data availability

With the ambition to become a leading provider in the Data Availability (DA) sector, 0G Labs joins a competitive landscape that includes established and emerging DA providers such as Celestia, EigenLayer, NEAR and Avail. The platform’s strategy focuses on enhancing scalability by differentiating data storage and data publishing processes, a move designed to optimize the efficiency and cost-effectiveness of on-chain operations.

Recently, the team presentation Launch of Newton, a high-speed data throughput blockchain testnet.

Data availability, a critical component of blockchain network functionality, ensures that nodes can access transaction data and verify its integrity. This feature is essential for the operation of optimistic rollups such as Arbitrum and Optimism, which rely on full access to transaction data to run proofs and identify fraudulent activity. However, the process of publishing significant amounts of data can be expensive. According to a report from Blockworks Research, DA costs can account for up to 90% of transaction costs in some rollups. The high cost is partly due to the large number of rollups leveraging Ethereum for DA purposes, where block space is very important.

To address these challenges, 0G Labs has introduced a cost-effective DA layer solution that is gaining traction in sectors with high data throughput requirements such as gaming, on-chain social media, and AI. Michael Heinrich, founder of 0G, highlighted the company’s collaboration with various AI initiatives, including ORA and Modulus Labs, emphasizing the platform’s capabilities to support high-volume on-chain applications.

strong team

The creation of 0G Labs was the result of insightful deliberation between co-founders Michael Heinrich, Ming Wu, Fan Long, and Thomas Yao. Their collective expertise spans a variety of areas within the technology and blockchain industries. Through discussions with market stakeholders, the founders identified that advances in data storage and availability are important to not only scale blockchain technology but also enable practical implementation of on-chain AI solutions. This realization fueled the team’s efforts to leverage their combined experience and insights to fill existing gaps in the infrastructure. Heinrich’s entrepreneurial journey with Garten, along with Wu and Long’s foundational roles at Conflux Network and Yao’s partnership at IMO Ventures, highlight the diverse skill sets that drive 0G Labs’ mission.

0G Labs’ fundraising journey demonstrates the burgeoning interest and belief in its vision from the investor community. The pre-seed round quickly attracted significant interest and was oversubscribed 20x, with an overwhelming $100 million expressed interest. This enthusiastic response has prompted participation from over 40 cryptocurrency-based institutions, including industry giants such as Alliance, Animoca Brands, and Delphi Digital. Heinrich looked back on the fundraising success as a testament to web3’s community-driven ethos and decided to expand the inflow of capital to build strategic partnerships aligned with 0G Labs’ long-term goals.

Following the influx of capital, 0G Labs is prepared to accelerate its hiring plans and focus on attracting top-level engineering talent to expand its technical capabilities and infrastructure. Developing a vibrant community and ecosystem around the platform remains a top priority.

Throughput and Security

0G Labs differentiates itself through a unique architectural design that incorporates separate lanes for publishing and storing data. This dual-lane system facilitates efficient management of on-chain data through data publishing lanes using a technique called data availability sampling. This method allows light nodes within a blockchain network to download random subsets of data and verify complete and accurate publication of the data with a high level of statistical certainty. Similar DA sampling techniques are utilized in other DA layers such as Celestia and Avail, and Ethereum’s future full danksharding upgrade is expected to include DA sampling as well.

the future is bright

0G Labs expects the blockchain to be fully operational on mainnet by the next three quarters. This milestone will unlock the potential for a wide range of Web 2.0 applications to be developed on-chain, fostering innovation and pushing the boundaries of what is possible within the blockchain domain. Heinrich envisions a dynamic ecosystem of layer 2 blockchains and decentralized applications that will accommodate millions of users, leveraging 0G’s high-performance infrastructure. The overarching goal is to facilitate new use cases, including on-chain AI, gaming, and high-frequency decentralized finance (DeFi), while minimizing transaction costs to negligible levels.

token?

Although 0G Labs currently operates without a proprietary token, its identity as a web3 entity hints at the possibility of introducing a token in the future and signals its commitment to full integration within the blockchain economy.

We believe it is very likely that the token will be introduced within the next six months, at which point it will be one of the first tokens to announce to our readers here at InsideBitcoins. We’ll let readers know how to participate in a potential airdrop or presale.