Nil Foundation

The Nil Foundation, launched in 2018, will use the funds from the fundraise to boost the development of its zero-knowledge (ZK) Proof Market protocol, according to details shared via a press release on Thursday. Per the company, the funding will go into building solutions aimed at improving the security and scalability of Ethereum, other L1 blockchains and L2s.

Venture Round: $22M

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Medium

Updated: Jan 30, 2025

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FoundedCyprus

Registration countryCyprus

Registration year2018

Office address

• Vasileiou Makedonos, 59, 3040, Limassol, Cyprus
• P.O. box 2775, Artemis House, 67 Fort Street, Grand Cayman, KY1-1111, Cayman

Ecosystems

Ethereum zkSync

What is Nil Foundation

A Proof Market will help provide industry players with a trustless and seamless protocol for sharing zk-proofs without having to rely on centralised intermediaries, the nil; Foundation noted in the announcement.

According to the Nil Foundation team, the market already has state proofs for Solana and Mina, while the same should be available on more blockchains soon. Industry players can now use the generated proofs to secure data exchange across Ethereum.

But a fully-fledged Proof Market will work as a zk-proof marketplace, allowing for further accessibility to proofs as blockchains eye more security and scalability.