Ethereum development firm Chainbound recently announced the completion of a $4.6 million funding round, led by prominent investment firm Cyber Fund, with participation from well-known investors such as Maven 11, Robot Ventures, and Bankless Ventures. The funds will be used to support Chainbound's innovative projects, particularly its development of a protocol called Bolt. The Bolt protocol is aimed at addressing the issue of long transaction confirmation times on the Ethereum network by introducing new technical mechanisms. It is anticipated that the Bolt protocol will significantly reduce the current 7-second average transaction confirmation time to sub-second levels. This advancement holds significant importance for enhancing the overall performance and user experience of the Ethereum network, and is expected to attract more developers and users to join the Ethereum ecosystem.