Waterfall Network, a layer-1 blockchain developer, has raised $2 million in a Series Pre-A funding round led by ByteTrade Lab. The funds will be used to accelerate the launch of its mainnet, which is scheduled for Q1 2024. ByteTrade conducted an extensive six-month due diligence process before investing in Waterfall, which recently passed the test. Waterfall's smart contract platform is being developed in collaboration with BlueWave Corp, and uses a "one person, one vote" consensus mechanism to ensure fair governance.