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Blockchain for Everyone: Startup Building Coda Protocol Gets $15 Million Boost

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The future of scalable blockchain tech just received another boon as O(1) Labs, the builders of the “tiny blockchain in your browser” project Coda Protocol, have successfully completed a new $15 million USD funding round.

Coda, whose nimble ledger leverages zk-SNARK cryptographic proofs in order to significantly compact the size of its chain, is focused around opening up blockchain to the masses by letting users run full nodes right from inside a browser —  a dynamic that’s a far cry away from the time and hardware needed to download traditional blockchains.

Coda Blockchain Bloat

O(1) Labs launched the protocol last spring as its inaugural enterprise. At the time, cryptoverse mainstays like Polychain Capital and Fred Ehrsam participated in the startup’s first funding round, which raised $3.5 million.

Now, the venture has raised almost five times that amount from firms like Coinbase Ventures in its latest fundraising series. The fresh war chest will help Coda’s builders accelerate and optimize the project’s roadmap for the foreseeable future.

On the news, O(1) Labs’s CEO Evan Shapiro outlined how the goal with Coda was to advance a different kind of blockchain — one that is highly accessible and highly dynamic because it is so streamlined and scalable:

“[Coda] substitutes the traditional blockchain for a tiny, portable cryptographic proof, about the size of a few tweets. This means that anyone can get the same level of security as a standard blockchain with a tiny fraction of the requirements. Full verification of the chain is available to any device, and participating in consensus is highly accessible. And even better, as the proof is constant sized, using Coda stays inclusive and decentralized even at millions of users, thousands of transactions per second, and with decades of history.”

Shapiro also later highlighted the new kinds of applications that a lightweight blockchain could power, as the chief executive stressed how developer-friendly such a system would be:

“Developers will be able to reach users simply by dropping in a