Blockchain investor coinIX backs Beamer, a protocol to enable users to bridge tokens from one Ethereum rollup to another

Blockchain investor coinIX backs Beamer, a protocol to enable users to bridge tokens from one Ethereum rollup to another

Hamburg, November 30th, 2022 – The Hamburg based investment company coinIX GmbH & Co. KGaA, which specializes in investments in digital assets and blockchain technology, contributes to Beamer.

Beamer is a bridging solution that is focused solely on the Layer 2 ecosystem of Ethereum, which allows it to offer a superior user experience compared to traditional or native bridges.

Ethereum plans to overcome the scaling problem without reducing the level of decentralization. To this end, various Layer 2 scaling solutions are being introduced. The most promising ones so far are so-called rollups, which perform transactions in a separate network and only provide proofs on Ethereum Layer 1. The security of transactions processed in this way does not differ from transactions written individually to the Ethereum Blockchain. However, there is a fragmentation of liquidity and new challenges in bridging between rollups in this case. As such, current bridging solutions are usually expensive and in some cases require significantly more time to process the transactions. In addition, they repeatedly offer vulnerabilities for security attacks. 

Beamer aims to solve those challenges. By utilizing a decentralized network of so-called agents which provide liquidity and maintain balances on several rollups, native tokens can be moved cheaply within seconds. Beamer leverages an optimistic approach where possible disputes are solved using game theory elements and can be escalated to Ethereum Layer 1.

On October 10th 2022, Beamer was launched on Mainnet starting with two rollups and one stablecoin. Therefore, the resources allocated will be used to extend the number of available rollups, support more tokens and to expand the network of agents. As part of their expansion, Beamer will work with bridge aggregators and applications to become one of the leading bridges across Ethereum rollups.

Beamer is a project from brainbot technologies AG, a leading blockchain development studio in the Ethereum ecosystem. Their team has contributed to the development of Ethereum since 2014 and aims to create the core building blocks that enable broad adoption of public blockchains. Apart from Beamer, brainbot worked on Raiden in the past and is currently also developing Shutter Network.

Jacob Czepluch, Project Lead of Beamer: “Our mission is to create the simplest, fastest and most secure cross-rollup bridge of the Ethereum L2 ecosystem. To allow new and experienced users to bridge as smoothly as possible. And ultimately enabling a seamless, must-have bridging feature for dApps and general web3 projects operating across rollups.” 

Karl Gero Wendeborn, CEO of coinIX: “At coinIX, we believe in a rollup-centric future of Ethereum to overcome the Blockchain trilemma – achieving decentralization, security and scalability at the same time. Beamer contributes to that future by removing the frictions across rollups. We have strong confidence in the team, which has been working on Ethereum since the early days and has a large network within the ecosystem.”

Press contact: Karl Gero Wendeborn, CEO, kgw@coinix.capital, +494035676758

Investor Relations: Felix Krekel, CFO, fk@coinix.capital, +494035676758

About coinIX

coinIX GmbH & Co KGaA, based in Hamburg, is a listed investment company and has been investing in the broad spectrum of blockchain innovation since 2017. This includes the next level of digitalization in traditional industries, as well as new fields such as Decentralized Finance (DeFi) or NFT/Metaverse projects. For this purpose, coinIX invests in equity of startups, early token projects and liquid cryptocurrencies. It offers a listed share that is traded on the open market of the Düsseldorf Stock Exchange (WKN: A2LQ1G | ISIN: DE000A2LQ1G5 | Ticker: XCX).