Funding of $14.4 million secured by Unto Labs for the development of a new Layer-1 blockchain.
Unto Labs, a forward-thinking tech company led by Liam Heeger, a former engineer at Ethereum and Solana, is developing a new virtual machine called ThruVM for its upcoming layer-1 blockchain, Thru. The innovative ThruVM is built on the RISC-V architecture, aiming to make blockchain technology more accessible and usable for a broader audience.
ThruVM's design is strategic, addressing the challenge of limited blockchain development and promoting mainstream adoption. By leveraging the popularity and familiarity of RISC-V, a widely used computing system outside of the crypto world, Unto Labs believes its new virtual machine will allow software to interact with hardware, promoting innovation in the crypto space.
One of the key benefits of using RISC-V is its compatibility with conventional server and laptop hardware. This simplicity can make it easier for non-crypto developers to understand and work with, reducing the learning curve for transitioning from traditional software development to blockchain. Moreover, the RISC-V ecosystem offers well-developed toolchains and community support, which can be beneficial for developers.
ThruVM also promises to offer performance benefits, developer benefits, and more tooling, as stated by Heeger. By using standard programming languages and tools, developers might be able to use familiar environments when creating and deploying applications on Thru. This compatibility with existing development tools and environments can make it easier for non-crypto developers to create and deploy applications on Thru.
Unto Labs plans to use the funds from a recent $14.4 million fundraising round, backed by crypto-focused venture firms Framework Ventures and Electric Capital, to hire more employees. The goal is to double the size of its staff from five to ten by the end of the year.
Thru aims to make blockchain development more accessible to non-crypto native developers. However, it will need to compete with established blockchains like Ethereum and Solana. While Ethereum is well-established with a large community, it uses a specific programming language (Solidity) which might be unfamiliar to non-crypto developers. Solana, on the other hand, is known for its high performance and low transaction fees, but it uses Rust, C, and C++ for programming, which might require additional learning for blockchain-specific aspects.
ThruVM's advantage could be its support for languages more commonly used outside of the crypto space, potentially reducing the barrier to entry for blockchain development. However, Thru will need to build a strong ecosystem to compete with the established developer communities of Ethereum and Solana.
In conclusion, Unto Labs' approach with ThruVM aims to capitalize on the familiarity and openness of RISC-V to attract developers who are not native to the blockchain space. The success of Thru will depend on its ability to grow a strong developer community and provide a competitive ecosystem. ThruVM is designed to make the Thru blockchain more accessible to a wider range of developers, including those not native to the crypto world, potentially broadening the user base.
The strategic design of ThruVM, built on the RISC-V architecture, aims to cater to a broader audience in the business and technology sectors, promoting its adoption in the finance and investing world by leveraging the familiarity of RISC-V outside of the crypto world. By offering compatibility with existing development tools and environments, ThruVM could entice non-crypto developers to delve into blockchain investing and business opportunities, potentially revolutionizing the investing landscape.
