Cycle Network Raises Millions in First Funding Round and Launches Testnet

According to Foresight News, Cycle Network, a trustless cross-chain distributed ledger, has announced the completion of its first funding round, raising millions of dollars. The round was led by Vertex Venture, a member of Temasek Holdings, with participation from Summer Ventures, LTP, Super Chain Capital, and GSG Digital. The specific amount raised was not disclosed. Cycle Network aims to build a cross-chain world state that includes all blockchains, using its Rollup+Extended DA technology to achieve native trustless interoperability. This will address the issue of DApps fragmentation across domains and help developers build cross-chain DApps in different ecosystems. Cycle Network currently supports the EVM ecosystem and has launched the Starfish testnet. In the near future, it plans to support Bitcoin, Solana, Cosmos, Move, and other non-EVM ecosystems. Additionally, Cycle Network will introduce a smart tool called PiggyBank to help crypto users manage their cryptocurrencies scattered across different blockchains.