Obscuro Labs

Obscuro Labs, established in 2022 and headquartered in the United Kingdom, is a startup dedicated to contributing to the TEN Network. This network is a decentralized, Layer-2 Rollup protocol for Ethereum, designed to hyper-scale and encrypt the platform. The solutions Ten offers span a wide range of blockchain issues, presenting novel use cases. One of the key advantages of Ten is its seamless integration with existing Ethereum applications, allowing developers to transition to Ten with minimal cost, leveraging the adoption, legitimacy, security, developer tooling, and liquidity of the entire Ethereum ecosystem. Notably, end-users can continue using their favorite Ethereum wallets such as MetaMask, ensuring a consistent user experience. Obscuro's use of Trusted Execution Environments (TEEs) for encrypting the ledger underpins Ten's approach, offering robust confidentiality guarantees and enabling smart contracts, decentralization, and scalability in a manner that other techniques cannot match. Additionally, Ten incorporates Confidential roll-ups, a new type of roll-up that combines performance and simplicity with confidentiality and short withdrawal periods, addressing the issue of Miner Extractable Value (MEV). The startup recently secured a $9.00MSeed Round investment on 15 March 2024, with the involvement of prominent investors including Republic, Big Brain Holdings, DWF Labs, Magnus Capital, Jets Capital, KuCoin, and R3. Obscuro Labs’ innovative approach and strategic partnerships position it favorably within the rapidly evolving Blockchain and Crypto industries.