Initia secures a $7.5M seed round to streamline blockchain development

Initia, founded by a group of developers aiming to address the challenges of blockchain interoperability, is seeking to simplify the creation of app-specific blockchains, known as app chains. While well-known blockchains like Ethereum and Bitcoin have gained widespread attention, app chains have emerged to offer developers greater flexibility in customizing economic and governance structures.

The decentralized nature of blockchain technology has led to a lack of uniform standards across different infrastructure components, resulting in fragmentation within the blockchain landscape. This fragmentation presents challenges for users, including dealing with various types of gas fees, wallets, and explorers across different blockchains.

Initia’s co-founder, Ezaan Mangalji, known as “Zon,” highlights the complexity that arises when moving assets between blockchains. For instance, stablecoin USDC may exist in multiple versions on the same chain due to transfers through different paths or bridges. Initia aims to streamline this process by ensuring fungibility across the multichain world, meaning that assets like USDC remain consistent across various app-specific blockchains, eliminating the need for multiple versions.

Initia addresses the challenges faced by developers building across multiple blockchains by providing a Layer 1 blockchain network designed to facilitate a system of Layer 2 (L2) rollups. While solutions like roll-ups and Cosmos aim to improve efficiency and scalability in blockchains, they can still present obstacles such as fragmentation and technical complexity.

Initia’s approach combines the scalability benefits of L2 rollups with the flexibility of the Cosmos SDK, offering developers a more streamlined and adaptable solution. By abstracting away the technical complexities of app chains, Initia aims to create a more user-friendly environment for both end users and developers.

The ultimate goal, as expressed by Initia’s co-founder Stan Liu, is to foster the growth of thousands of applications within the crypto and web3 space, with Initia serving as a platform that seamlessly integrates with users’ everyday experiences, much like the Apple App Store.