To enhance the user experience in the blockchain space, Stripchain has raised $10 million in a funding round led by Sora Ventures, along with notable investors such as Hyperithm, Shima Capital, Mechanism, and several prominent crypto angel backers.
The crypto industry has long faced challenges with user experience (UX), which has hindered broader adoption across different generations.
Stripchain aims to address this by creating a system where users can perform on-chain transactions without worrying about the underlying network.
This concept, known as chain abstraction, is at the heart of Stripchain’s mission to simplify blockchain interactions.
Stripchain’s innovative approach allows users to interact with blockchain applications seamlessly, similar to how people use Netflix without needing to understand its backend systems.
This idea is championed by pseudonymous researcher “0xnovachrono,” alongside co-founders Isa Sertkaya and Narayana Pryusty.
Sora Ventures led the investment round, joined by angel investors like Santiago Santos, Stephane Gosselin of Frontier Research, and Ryan Selkis of Messari, as well as other venture capital firms.
A spokesperson for Sora Ventures highlighted the need for improved UX in the face of an increasing number of Layer 1 and Layer 2 solutions, emphasizing that simplifying chain-specific knowledge is crucial for mass adoption.
Stripchain’s solution allows developers to create commands or intents, to facilitate actions such as data transfers between blockchains.
Using its proprietary stripVM system, Stripchain enables different protocols to communicate and coordinate effectively. Unlike other interoperability solutions that focus on the protocol or contractual layers, Stripchain’s focus on the transaction layer and use of a proof of authority system sets it apart.
“While the industry has made significant strides in connecting values across blockchains via bridges, we still face challenges in connecting applications across different execution layers,” noted 0xnovachrono.
Stripchain’s focus on the user layer promises to bridge this gap, making blockchain technology more accessible and user-friendly.
