Ethereum (ETH) co-founder Vitalik Buterin and blockchain scaling startup StarkWare are supporting a new initiative in the blockchain space.
Buterin's new startup is Kakarot, an Ethereum Virtual Machine (EVM) on Starknet.
Buterin and StarkWare participated in a pre-seed investment round for a startup called Kakarot. The amount of the investment was not disclosed to the public.
According to the developers, Kakarot zkEVM, built on CairoVM, a Turing compatible language, facilitates the creation and launch of EVM-compatible applications by moving developers to an Ethereum-compatible environment.
Looking into Kakarot's future, an ambitious plan to position itself as an EVM in Starknet Tier 2 emerges in the first phase.
Kakarot wrote the following about the investment round on his official Twitter account:
“Kakarot Labs is officially established and has closed a pre-seed round with top investors.
Kakarot zkEVM is an Ethereum Virtual Machine (EVM) built on Cairo.
It provides transparency and security by leveraging STARK proofs for provable transactions and blocks.
Thanks to the proofs of validation, Kakarot is able to take over the security of Ethereum L1 while also providing lower costs.”
*Not investment advice.
Well this is similar to some other projects until further info is released. Looking forward to the Goku coin