Tomasz Tunguz - Interwoven with Initia
Tomasz TunguzVenture Capitalist If you were forwarded this newsletter, and you'd like to receive it in the future, subscribe here. Interwoven with Initia
Like in web2, building an app on a blockchain requires several layers & components. Picking the best of each can be a challenge for a developer. Once the stack is fixed, a developer might want to choose the best database characteristics for an app : lower latency for a game, greater security for a financial exchange. Last, interoperability with other systems is a critical way of enticing users to use the apps. So is simplifying the onboarding process by eliminating the friction of moving assets between chains. Initia does this for web3 developers. It provides an entire stack from the very bottom (the Layer 1) to the database customization layer (the Layer 2). A user identity system, wallets that enable developers to pre-fund the accounts to simplify onboarding, explorers to view transactions, cross-chain compatibility with IBC and LayerZero, native USDC stablecoins, & data availability (decentralized data access via Celestia). Should a developer prefer the Move language to Solidity, or CosmWasm to Move, Initia enables swapping out the three virtual machines to suit each application’s need. Each developer’s customized environment is called a Minitia. As web3 development matures, more developers will build in web3. Simplifying that experience while providing compatibility is essential. To date there are 11 Minitias deployed with about $400m of total value locked (TVL) pre-launch (Mainnet). Stan & Zon, the founders of Initia are no strangers to the challenges & opportunities in developing web3 ecosystems. They’ve worked for the last decade on some of the largest systems in crypto. The future of web3 development is modular & customizable with comfortable defaults & interwoven from the start. We’re thrilled to work with the Initia team to bring that future to fruition. Follow Initia on X, I hear their mainnet is launching soon. |
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