Waterfall Network raises $11.6M for smart contract platform development

Swiss smart contract platform Waterfall Network has raised $11.6 million from Bolt's Capital, Alpha Token Capital, and Enflux.

Waterfall is a layer one (L1) architecture aiming to provide a solution for security, scalability and decentralisation to support dAPP developers.  

Waterfall's Directed Acyclic Graph ("DAG") achieves and allows it to run a validator node from any device, including low-cost laptops and mobile phones, in the future. Waterfall is Ethereum Virtual Machine (EVM) compatible, allowing for the portability of decentralised applications (dAPPs), and has very low hardware requirements for the participants to become validators.

"Waterfall's rapidly growing community of supporters and validators is a testament to the network's potential, and it's incredibly encouraging to see investors recognising that vision," said Sergii Grybniak, CTO of Blue Wave and Head of Research at Waterfall."

The investment comes on the heels of Waterfall Network setting a new performance record of 12,778 transactions per second (TPS)– an achievement that underscores the protocol's ability to effectively solve the blockchain trilemma of security, decentralisation, and virtually unlimited scalability. 

The funding will help advance Waterfall's research and development to strengthen the platform's infrastructure with node simplification and further advancement of the network. 

Lead image: Freepik