Cubist Inc. – a Web3 developer’s tool that focuses on security – announced today the raising of $7 million as seed funding. The money will be used to assist developers in building decentralized apps more quickly and safely, while adhering to industry standards.
Web3 relies on both peer-topeer and smart contract technology. This is built using a wide range of protocols, languages, and security options. That means developers often find themselves pulling together tools from different sources, which are sometimes incompatible, and that leaves them susceptible to dangers.
Polychain Capital, a venture capital company specializing in blockchain technology, led the round, with Dao5, Amplify Partners and Polygon joining. Blizzard, Axelar, Blizzard, Polygon. The company announced that it will use the funding to increase its team and accelerate product development to better help secure applications.
Riad wahby is the chief executive and co-founder at Cubist. He said, “the future of Web3 applications will be built by developers of dapps.” This future is not possible, however, if developers continue to create custom tools and infrastructures, stitch incompatible solutions together, or worry about the security of their technology stacks. It stifles the innovation of developers and creates serious security flaws.
Cubist’s new software development kit is the company’s most prominent offering. It allows developers to create and test cross-blockchain decentralized applications. It is very useful to developers, as there are many blockchains that support decentralized apps, such as Ethereum, Solana and Tezos. The company hopes that by allowing developers write code to appear as though it is running on one chain and changing chains or bridges using a single configuration line, they can reduce development time.
The framework will also include testnet libraries and funded test accounts for many chains, plus simulation testing to check high latency, random conditions and other issues. It includes funded test accounts and testnet libraries for multiple chains. Additionally, simulation tests are performed for issues such as high latency and random conditions. The goal is to offer developers the most effective tools to help them fix issues before they deploy their code.
Cubist is working on a solution that provides proactive authentication, access control and monitoring for security. This will allow developers to manage tokens and cryptocurrencies without worrying about the possibility of theft by insiders.
On the website of this company, developers can register for an early access program to test and secure solutions.
Even some of Web3’s most innovative innovations have been hampered by technical errors that are simple to make, costly to locate, and difficult to correct. Ann Stefan is the co-founder of Cubist and its chief operating officer. She said, “The problem with developers today is they don’t always have access to tools that can help prevent critical errors.” Cubist is a company that puts security first, giving developers peace-of-mind at all stages of development.
Cubist has announced that it can expand its technical capabilities and team with this funding. This team will also accelerate the product development process, which includes building security and testing tools.