Blockchain firm raises $25M to develop third-generation architecture

The Anoma Foundation, a Swiss non-profit, has been granted a substantial increase in funding to further the advancement and investigation of its third-generation blockchain technology.

A third round of fundraising resulted in $25 million for the organization, which is constructing a blockchain architecture that they refer to as generalized intent-centric. This technology is said to facilitate the creation of fully decentralized applications (DApps) and services, from decentralized exchanges (DEXs) to blockchain rollup protocols.

Adrian Brink, co-founder of Anoma, informed Cointelegraph that its third-generation architecture provides more composability and convenience than other smart contract protocols such as Ethereum and its Ethereum Virtual Machine (EVM).

Brink emphasized the progression of blockchain systems, beginning with Bitcoin (BTC) as the initial form of scriptable settlement architectures. Ethereum then became the second generation, featuring programmable settlement architecture, while Anoma is looking to take decentralization of existing blockchain-based applications and platforms to the next level.

The proceeds of its most recent fundraising round will be used to continue the progress of Anoma’s architecture and to create developer tools for its ecosystem.

A primer for grasping the fundamentals of blockchain technology.

Brink emphasized Anoma’s main design concept of intent-centricity, which facilitates completely decentralized versions of existing DApps, like rollups; NFT marketplaces like OpenSea and Flashbots; and decentralized exchanges that have centralized parts and limited on-chain settlement capabilities.

Brink characterizes Anoma’s design, which is intent-centric, as a radically different approach to how decentralized systems are designed in the industry, as opposed to transaction- or blockchain-centric methods such as Bitcoin, Ethereum, and other blockchains.

In a July 2022 report from Chainalysis, Algorand, BNB Chain, and Avalanche were revealed to be emerging as layer-1 competitor chains to Ethereum, each looking to offer enhanced scalability or security.

Countless layer-1 blockchains modeled after Bitcoin and Ethereum have been created, providing the capability for transactions and smart contracts.

The magazine states that Bitcoin is heading towards the goal of achieving ‘Net Zero’ emissions.