Biconomy, a multi-chain infrastructure network for decentralized applications, has concluded a $9 million private funding round that was co-led by venture firms DACM and Mechanism Capital.
Ahmed Al-Balaghi, CEO of Biconomy, said his protocol has been designed to address some of the biggest challenges with Web 3.0 transactions, such as gas fees, Ether-only payments and fragmented layer-2 solutions. He explained: