Venture capital firm Andreessen Horowitz (A16Z) has invested an additional $70 million in Ethereum’s largest remake agreement, Eigenlayer, to support the launch of Eigencloud, a new platform that provides developers with a new platform for “verifiability-As-As-As-a-Service.”
Investment follows $100 million in A16Z Series b In February 2024, in Eigen Labs, its commitment to the project through its crypto-fund IV was highlighted.
eigenlayer More than $12 billion in rest-keeping assets are currently secured.
Eigencloud allows developers to build trustless, verifiable applications that anchor trust and payments, fix the Ethereum blockchain.
Companies like Securitize will use Eigencloud to verify asset pricing data BlackRock’s $2 billion Buidl Fund.
The companies said the platform launched new services, featured Virginia dispute resolution and featured rated chain execution, and data from existing AVSs such as Eigenda.
By converting verification into programmable cloud primitiveness, Eigencloud aims to areas such as AI, media, betting markets, and enterprise software as it aims to unlock a new wave of encrypted native and web2 integrated applications.
“Eigencloud will enable the next generation of disruptive mass-market crypto applications to close the gap that developers want to build OnChain and that blockchain allows them to build,” said Sreeram Kannan, CEO of Eigen Labs.
Alpha launches include performance upgrades, controversial tools, and a developer roadmap for phased access.
Read more: Protocol: Eigenlayer is ready to start missing functions
