Most blockchains are like public databases. Even though addresses on Bitcoin are pseudonymous, researchers have become so adept at tracking transactions that startups make millions selling analytics software to governments. That bodes well for stopping criminals but not so much for banks, whose customers probably don’t want their account balances searchable on the internet. That’s helped spur a push for decentralized protocols that preserve privacy, including Miden, a blockchain designed for confidential transactions.
On Tuesday, Miden announced it had raised a $25 million seed round co-led by the crypto arm of Andreessen Horowitz along with Hack VC and 1kx. Other investors included Finality Capital Partners and Symbolic Capital as well as prominent angel investors in crypto like Avery Ching, the cofounder of the Aptos blockchain.
