Ethereum's Drosera Raises $4.75M for Decentralized Security

Ethereum Security Automation Layer Protocol Drosera Completes $4.75M Fundraising Round, Led by Greenfield Capital

The Ethereum security automation layer protocol Drosera has successfully completed a new round of funding, raising a total of $4.75 million. This funding round was led by Greenfield Capital, with participation from several other institutions, including Anagram, Paper Ventures, Arrington Capital, UDHC, and Pulsar.

Drosera is a decentralized security protocol built on the Ethereum blockchain. It leverages "Traps" smart contracts to delegate its security infrastructure to a decentralized network of node operators. This innovative approach allows Drosera to enhance the security of the Ethereum network by distributing the workload among multiple nodes.

As of now, over 25 protocols, including Ion Protocol, EtherFi, and Gravita, have committed to joining Drosera's testnet. This growing interest in Drosera's protocol highlights the increasing demand for robust security solutions in the Ethereum ecosystem.

The completion of this funding round will enable Drosera to further develop its technology and expand its reach within the Ethereum community. As the protocol gains traction, it has the potential to significantly improve the security and stability of the Ethereum network, ultimately benefiting all participants in the ecosystem.