Cryptocurrency exchange Binance has announced the winner of its metaverse-based Web3 reality show "Build the Block." As part of the show, startups competed against each other to win investment from Binance Labs.
In an announcement, Binance said that zkPass, a privacy-preserving decentralized authentication solution, won the contest after receiving the most votes. The startup relies on multi-party computation and zero-knowledge proof technologies. Joshua Peng, co- founder of zkPass, said the investment will help the company build a decentralized infrastructure. Peng explained: “Not only are we excited to be a part of our first introduction in the Live Metaverse series, but we're especially honored to win Build The Block and have the opportunity to work more closely with Binance Labs.”
Ling Yibo, Chief Commercial Officer of Binance who participated in the competition as a judge at the same time, said that Binance is looking forward to seeing the growth of the winners of the competition. “We are looking to lay the groundwork for sustainable ecosystems to achieve scalability, especially those enabled by zero-knowledge proof technology,” Ling said. Four other entrants also received investment offers from Binance Labs, including Mind Network, a decentralized privacy-preserving data lake; Kryptoskatt, simplifying Web3 finance; Bracket Labs, creator of a decentralized finance (DeFi) platform; and dappOS, an operating protocol.
In other news, blockchain protocol Anoma has secured funding to continue developing its architecture. On May 31, the Swiss nonprofit raised $25 million to build a common “intent-centric” blockchain architecture. According to Anoma co-founder Adrian Brink, the platform's third -generation architecture offers better composability and ease of use than existing smart contract protocols.
