Nocturne Labs, a startup focused on developing private accounts for the Ethereum ecosystem, recently completed a seed round of funding worth $6 million.
The round was led by Bain Capital Crypto and Polychain Capital, with additional contributions from Vitalik Buterin, the co-founder of the second largest cryptocurrency by market capitalization, Bankless Ventures, Hack VC, and Robot Ventures.
The company is currently working on a protocol that will enable anonymous transactions within the Ethereum ecosystem.
The solution is expected to launch on the mainnet in November, with plans to eventually support L2 solutions. According to Luke Tchang, co-founder of Nocturne, the protocol will allow users to have “internal” accounts where they can anonymously send and receive funds without being linked to the same address.
This will also enable them to use ZKP technologies to prove ownership of their assets and conduct other transactions such as payments, trading, and staking.
A representative from Nocturne Labs noted that existing alternatives like mixers, blockchain networks, or other platforms like Aztec Connect have limitations in terms of usability and compatibility.
