Eigen Labs launches EigenCloud platform and receives $70 million investment from a16z crypto

PANews reported on June 17 that according to Forbes, Eigen Labs announced the launch of the EigenCloud platform, which aims to provide blockchain-level trust guarantees for Web2 and Web3 applications. The platform is based on the EigenLayer re-staking protocol and integrates data availability, general computing, and dispute resolution functions. In addition, a16z crypto purchased EIGEN tokens for $70 million, continuing its investment layout after the $100 million Series B financing in February 2024.

The alpha version of the platform has been launched, and test network data shows that its data availability layer throughput reaches 50MB/s. EigenCloud plans to expand blockchain technology to traditional fields such as medical records and machine learning through the "verifiability as a service" model. The platform is currently being gradually opened to developers and is expected to be fully launched by the end of 2025. Founder Sreeram Kannan said that the platform will narrow the gap between developer needs and blockchain capabilities.