Layer 1 blockchain Initia announces investment from Binance Labs

ChainCatcher news, according to The Block, the developers of the Layer 1 network Initia announced today that they have received pre-seed investment from Binance Labs, with specific funding amounts and more details not yet disclosed.

It is reported that Initia is developed using the Cosmos Software Development Kit (SDK), but it will utilize a computing framework called MoveVM based on the Move smart contract language.