PANews reported on March 6 that Seismic announced the completion of a $7 million seed round of financing, led by a16z crypto, with participation from Polychain, NGC Ventures, dao5 and 1kx. The funds will be used to develop encrypted blockchains. Seismic aims to solve the current transaction transparency problem faced by L1 blockchains. Through end-to-end encryption, all transaction data on the chain is made private to avoid user data exposure. Team members come from well-known companies such as Wintermute and have deep experience in cryptography, compilers and distributed systems.

Officials said that this financing will accelerate the construction of the Seismic ecosystem and make it an important infrastructure for future privacy blockchains.