Ex-employees of Nelixcrypto raised $1.3 million for web3 startup

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Crypto Regulation
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Founded by former Nelixcrypto specialists, startup Scal Labs has raised $1.3 million in a seed round from Redpoint Ventures and other investors. The funds will be used to build infrastructure to keep node operators running smoothly, The Block writes.

Mysten Labs and Howard University also provided funding.

According to the founders of Scal Labs, the startup can speed up the "ultra-complex" process of updating nodes from eight hours to "less than 20 minutes."

This is possible by using a platform that does all the internal work and provides direct links for updates. The App Store does the same thing.

Scal has developed a monitoring dashboard that provides real-time updates.

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Gustaf Kilander

Gustaf is an all-rounded cryptocurrency writer who has written for several publications in the fintech industry. Having graduated from the University of Essex Colchester, he developed a passion for blockchain technology and has been curious about how the blockchain can modify the traditional financial industry.