Cytonic, a layer-1 blockchain that utilizes a 'MultiVM' design, has successfully raised $8.3 million in a seed funding round led by Lemniscap and Lattice. This innovative architecture allows multiple virtual machines to operate within the same network layer, sharing storage. This approach aims to tackle compatibility challenges among various blockchains. Cytonic is developed by MultiVM Labs and is compatible with major blockchain networks such as Bitcoin, Ethereum, and Solana, facilitating the processing of diverse transaction types within a single block. The core objective of Cytonic is to streamline on-chain interactions, minimizing transaction fees and wait times when transferring assets between different chains. In addition, Algorand plans to launch an inclusive staking rewards program in December, while Solv Protocol introduces a classification system for its SolvBTC reserve to manage stability and risk effectively. This advancement marks a significant step in the evolution of blockchain technology, highlighting developments aimed at enhancing user experiences and operational efficiency.

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