PANews reported on May 6 that the next-generation L1 blockchain protocol Litheum announced the completion of a strategic financing of US$750,000, led by Alphemy Capital and Amber Group. This round of funds will be used to advance its testnet launch plan and further realize its vision of "compressing the cost of blockchain use to the physical limit." Litheum plans to launch a testnet next quarter to lay the foundation for its mainnet release.

It is reported that Litheum adopts an innovative PoP (Proof-of-Performance) consensus mechanism, which improves on-chain performance and cost efficiency while ensuring security and decentralization by incentivizing all core functional nodes in the network and dynamically adjusting block size and transaction fees.