Layer 1 blockchain Initia receives funding support from Binance Labs in pre-seed financing round.

BlockBeats news, October 12th - According to The Block, developers of Initia, a Layer 1 network, announced today that they have received pre-seed funding from Binance Labs. The specific amount of funding and more details have not been disclosed. It is reported that Initia is developed using the Cosmos software development kit (SDK), but it will utilize a computing framework called MoveVM based on the Move smart contract language.