Security infrastructure firm Firewall raises $3.7 million in pre-seed funding
Quick Take
- North Island Ventures, Breyer Capital and Hack VC co-led a $3.7 million pre-seed funding round for the blockchain security firm Firewall.
- Firewall will use the funds to grow its team of six employees, develop its tech and bolster community building and marketing endeavors.
"Blockchain consensus is meant to formalize social consensus into programmatic rules. We know it's already a social consensus that smart contract exploits shouldn't be accepted as valid state transitions, you see this clearly after every exploit," the firm's co-founder Devan Purhar told The Block. "Do people refer to the Kyber 'transactions' that netted $50 million? No, instead it's the 'Kyber exploit,' synonymous with theft. That's why we're updating blockchain consensus to correctly reflect this mechanically."
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