Blockchain investor coinIX backs Beamer, a protocol that enables users to bridge tokens from one Ethereum rollup to another

by Arthur · November 30, 2022

EQS-News: coinIX GmbH & Co. KGaA / Keywords: Cryptocurrency / Blockchain/Investment
Blockchain investor coinIX backs Beamer, a protocol that enables users to bridge tokens from one Ethereum rollup to another
30.11.2022 / 15:22 CET/CEST
The issuer is solely responsible for the content of this announcement.

Hamburg, 30 November 2022 – The Hamburg-based investment company coinIX GmbH & Co. KGaA, which specializes in investments in digital assets and blockchain technology, contributes to Beamer.

Beamer is a bridge solution focused exclusively on the Layer 2 ecosystem of Ethereum, which allows it to offer a superior user experience compared to traditional or native bridges.

Ethereum plans to overcome the scaling problem without reducing the level of decentralization. For this purpose, various layer 2 scaling solutions are introduced. The most promising so far are so-called rollups, which perform transactions in a separate network and only provide proof of Ethereum Layer 1. The security of transactions processed in this way does not differ from transactions written individually to the Ethereum Blockchain. However, there is a fragmentation of liquidity and new challenges in bridging rollups in this case. As such, current bridging solutions are typically expensive and in some cases require significantly more time to process the transactions. In addition, they repeatedly offer vulnerabilities for security attacks.

Beamer aims to solve these challenges. Using a decentralized network of so-called agents that provide liquidity and maintain balances on multiple rollups, native tokens can be moved cheaply within seconds. Beamer utilizes an optimistic approach where possible disputes are resolved using game theory elements and can be escalated to Ethereum Layer 1.

On October 10, 2022, Beamer was launched on the Mainnet and started with two rollups and a stablecoin. Therefore, the resources allocated will be used to expand the number of digests available, support more tokens, and expand the network of agents. As part of their expansion, Beamer will work with bridge aggregates and applications to become one of the leading bridges across Ethereum rollups.

Beamer is a project of brainbot technologies AG, a leading blockchain development studio in the Ethereum ecosystem. Their team has contributed to the development of Ethereum since 2014 and aims to create the core building blocks that enable the widespread use of public blockchains. Apart from Beamer, brainbot previously worked on Raiden and currently also develops Shutter Network.

Jacob Czepluch, project manager for Beamer: “Our mission is to create the simplest, fastest and most secure cross-rollup bridge to the Ethereum L2 ecosystem. To allow new and experienced users to bridge as smoothly as possible. And finally enabling a seamless, must-have bridging feature for dApps and general web3 projects operating across digests.”

Karl Gero Wendeborn, CEO of coinIX: “At coinIX, we believe in a rollup-centric future for Ethereum to overcome the Blockchain trilemma – achieving decentralization, security and scalability at the same time. Beamer contributes to that future by removing the frictions across rollups. We strongly believe to teams, who have worked on Ethereum since the early days and have a large network within the ecosystem.”

Press contact: Karl Gero Wendeborn, CEO, [email protected], +494035676758

Investor Relations: Felix Krekel, CFO, [email protected], +494035676758

About coinIX

coinIX GmbH & Co KGaA, based in Hamburg, is a listed investment company and has been investing in the broad spectrum of blockchain innovation since 2017. This includes the next level of digitization in traditional industries as well as new fields such as Decentralized Finance (DeFi) or NFT/ Metaverse Projects. To this end, coinIX invests in equity capital for startups, early stage token projects and liquid cryptocurrencies. It offers a listed share traded on the open market of the Düsseldorf Stock Exchange (WKN: A2LQ1G | ISIN: DE000A2LQ1G5 | Ticker: XCX).

30.11.2022 CET/CEST Dissemination of a company news, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS distribution services include regulatory announcements, financial/corporate news and press releases.
Archive at www.eqs-news.com