OKX Ventures announces investment in Arch Network, a Bitcoin native application and smart contract platform.
Arch is the first Bitcoin native application platform - open cross-chain DeFi on the world's largest blockchain. Arch Network is a parallelized proof-of-stake network that uses zk-proofs to enhance Bitcoin native programmability. The network consists of a Rust-based zkVM (called ArchVM) and a decentralized verification network. Together, these components form a trustless execution environment directly within the Bitcoin blockchain, enabling a bridgeless transaction experience.
"We are excited to invest in Arch Network, a Bitcoin native application platform that draws inspiration from the SVM (Solana Virtual Machine) and leverages parallelization and integrated zero-knowledge proof (ZK Proof) technology to facilitate dynamic, Turing-complete smart contracts on Bitcoin. This novel approach greatly improves the user experience and trust assumptions of Bitcoin users, enabling a smooth, frictionless experience while maintaining a trustless relationship with dApps and protocols." said Dora, founder of OKX Ventures.