Citrea is the first to expand Bitcoin from a passive store of value to an active, programmable asset by introducing a secondary layer solution using zero-knowledge technology.
GEORGE TOWN, Cayman Islands, Oct. 31, 2024 /PRNewswire/ -- Citrea , the first solution to make it possible to build anything on Bitcoin, today announced its $14M Series A funding round, led by Peter Thiel's Founders Fund, with participation from Erik Voorhees, Balaji Srinivasan, Jameson Lopp, Maven11, and other prominent angel and venture investors. Citrea has also launched its exclusive developer program, 'Citrea Origins ', bringing together a select group of developers to build applications on Citrea—the only platform for expanding Bitcoin's utility.
Bitcoin's global adoption has solidified its role as "digital gold", but its broader financial potential has remained untapped due to the lack of a scalability solution that maintains its core principles. This gap has forced users to either keep Bitcoin as a passive store of value or rely on custodians for broader use. This adoption undermines Bitcoin's role in decentralized finance. Without a proper scalability solution, Bitcoin risks losing its relevance in decentralized finance and becoming obsolete as a network.
Citrea is the first Bitcoin scalability solution to expand Bitcoin's utility without compromising its decentralization or security. Citrea enhances the capabilities of Bitcoin blockspace with zero-knowledge technology and enables the Bitcoin network to support diverse on-chain applications and platforms. By eliminating the need for intermediaries, Citrea allows users to trustlessly buy, leverage, lend, borrow, and use BTC—transforming Bitcoin from a passive store of value into an active financial tool.
"Citrea is a major milestone in the timeline of Bitcoin's evolution and the first investment we've made in the Bitcoin ecosystem," said Joey Krug , Partner at Founders Fund. "With the strongest team and best technical design we've seen in the Bitcoin L2 space, Citrea's 0→1 technology enables Ethereum-like rollups for smart contracts on Bitcoin in a trust-minimized way."
"For the past 18 months, we've been building the infrastructure Bitcoin needs to move beyond just a store of value and step into a new era of Bitcoin-backed decentralized finance," said Orkun Kilic , co-founder and CEO of Chainway Labs. "Citrea combines breakthroughs in cryptography with rigorous engineering to make this vision a reality. Bitcoin not only enables a borderless economy but also serves as the foundation for a censorship-resistant monetary layer. Our mission is to lay the foundation and ecosystem required to drive global hyperbitcoinization."
About Citrea
Citrea is the first rollup that increases BTC's utility and activates Bitcoin blockspace for a new decentralized financial ecosystem. Citrea's vision is to build scalable infrastructure that advances Bitcoin into its next phase: the foundation for the world's finance.
Apply for the developer program 'Citrea Origins '.
For more information, please visit: Citrea website | Citrea X Account
About Chainway Labs
Chainway Labs, the company building Citrea, was co-founded by four young computer scientists and entrepreneurs with a focus on Bitcoin, Ethereum, and zero-knowledge technology.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Citrea Raises $14M to Expand Bitcoin Beyond Digital Gold
MILPITAS, Calif., Oct. 31, 2024 /PRNewswire/ -- Zepp Health Corporation ("Zepp Health") (NYSE: ZEPP), a global leader in smart wearables and health technology, today announced the launch of the enhanced Zepp App 9. This latest app version is designed to deliver a more personalized health, wellness, and fitness experience, empowering Amazfit users worldwide to understand their health trends and make informed lifestyle decisions. Zepp App 9 is available on iOS and Android platforms and compatible with all Amazfit devices.
Key Enhancements in Zepp App 9:
A New, Improved Free Zepp App Core Experience
Exertion & Heart Health Monitoring
Add-On Services & Features for Enhanced Sleep, Recovery, and Fitness Insights
Users can unlock even greater value through a range of new add-on services and features designed to elevate their Amazfit experience. These include:
Zepp Aura Premium Service
Embedded within the Aura tab, Zepp Aura functions as a virtual sleep specialist, offering premium users advanced sleep reports and AI-powered personalized recommendations to improve well-being. It also provides access to an unlimited library of sleep and meditative music to enhance relaxation and sleep quality. Unlike other platforms, Zepp Aura ensures full data transparency, leveraging existing information from the free Sleep Score page to deliver insights, trends, and actionable guidance, with no data hidden behind paywalls.
Mini-Apps and Watch Faces
Zepp App 9 expands device customization with mini-apps and watch faces available through the Zepp Store and device tab. Users can instantly download these upgrades to personalize their devices, reflecting their unique style and preferences. With new content added each quarter, users have endless possibilities to refresh their devices and create an Amazfit experience that's truly their own.
Exclusive Device Upgrades
Zepp Health now offers exclusive discounts on future device purchases through the Device tab, allowing users to seamlessly upgrade to the latest innovations. This feature ensures users stay current with new technology while enjoying special offers that make it easier to expand their Amazfit ecosystem.
Third-Party App Integration: The Zepp App seamlessly integrates with leading fitness platforms, including Strava, adidas Running, and TrainingPeaks, to provide users with a complete view of their health and wellness journey.
Data Protection and Privacy
The Zepp App ensures that users' health data is collected, processed, and stored securely, adhering to the highest data protection standards and it does place user information behind paywalls. All personal health information is securely stored using Amazon Web Services (AWS) in North America, the EU, and other regions. The app is also GDPR-compliant*, ensuring transparency and maintaining users' trust.
Availability
Zepp App 9 is now available for download on iOS and Android platforms. Users can update through their respective app stores to access these new features and enhance their health and wellness journey.
About Zepp Health
Zepp Health (NYSE: ZEPP), a global smart wearable and health technology leader, empowers users to live their healthiest lives by optimizing their health, fitness, and wellness journeys through its leading consumer brands, Amazfit, Zepp Clarity, and Zepp Aura. Powered by its proprietary Zepp Digital Health Management Platform, which includes the Zepp OS, AI chips, biometric sensors, and data algorithms, it delivers cloud-based 24/7 actionable insights and guidance to help users attain their wellness goals.
With outstanding craftsmanship, Amazfit smartwatches have won many design awards, including the iF Design Award and the Red Dot Design Award. Launched in 2015, Amazfit is today embraced by millions of users.
To date, Zepp Health has shipped over 200 million units and its products are available in 90+ countries. Founded in 2013, Zepp Health has 1000+ employees and offices across the Americas, EMEA, and APAC regions. For more information, visit www.zepp.com.
Note:
*GDPR compliance is when an organization meets the requirements of the General Data Protection Regulation (GDPR) for handling personal data. The GDPR is a European Union (EU) law that went into effect in 2018 and is considered one of the world's most comprehensive data protection laws.
** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **
Zepp Health Launches Enhanced Zepp App 9: Elevating Personalized Health and Wellness for Amazfit Users Worldwide
Zepp Health Launches Enhanced Zepp App 9: Elevating Personalized Health and Wellness for Amazfit Users Worldwide
Zepp Health Launches Enhanced Zepp App 9: Elevating Personalized Health and Wellness for Amazfit Users Worldwide
