PANews reported on November 7 that according to CoinDesk, Cytonic, a Layer1 blockchain that adopts the 'Multi-VM' design, has completed a US$8.3 million seed round of financing, led by Lemniscap and Lattice.

According to reports, Cytonic was developed by MultiVM Labs and is the first Layer 1 blockchain that uses shared storage to run multiple virtual machines (VMs) within the same network layer, solving the challenge of blockchain compatibility. Cytonic is compatible with most blockchains (such as Bitcoin, Ethereum, and Solana) and can process different types of transactions simultaneously in a single block. Its goal is to simplify on-chain interactions while reducing transaction fees and waiting times when transferring assets between chains.