TLDR:
Firewall, a blockchain security infrastructure firm, raised $3.7 million in a pre-seed round co-led by North Island Ventures, Breyer Capital and Hack VC. The funding will be used to grow the team, develop tech, and enhance community and marketing efforts.
Summary:
Firewall, a blockchain security infrastructure firm, secured $3.7 million in pre-seed funding from North Island Ventures, Breyer Capital, and Hack VC. This funding will support the company in expanding its team of six employees, advancing its technology, and strengthening community engagement and marketing initiatives. Unlike traditional network firewalls, Firewall utilizes rollups and programmable transaction finalization rules to prevent smart contract exploits in blockchain networks. The firm’s unique “proof-of-exploit” consensus mechanism aims to classify exploits as invalid state transitions, which can be reversed. Co-founder Devan Purhar highlighted the importance of updating blockchain consensus to reflect social consensus surrounding smart contract exploits. The funding round signifies Firewall’s commitment to enhancing security measures and protecting blockchain networks against vulnerabilities.
