ICrypto

Hotest Blockchain News in First Media Index

Optimism Raises $25 Million in Series A Funding Round

Like? Rate It!
Rated: 

In a Series A funding round led by Andreessen Horowitz (A16Z), a venture capital firm raised about $25 million for Optimism, a public benefit corporation that concentrates on scaling the Ethereum Network.

Andreessen Horowitz (A16Z), a venture capital firm has led a Series A funding round to raise about $25 million for Optimism, a public benefit corporation that concentrates on the scalability of the Ethereum Network. According to a blog post by the supporting company, A16Z, they are eager to be a part of the Optimism team during the period of rapid growth of the Ethereum ecosystem. According to the blog post published by the supporting platform, A16Z, they are excited to be working with the Optimism platform in the period of rapid expansion of the Ethereum ecosystem.

No rewrites were found

Journey from Plasma Group to Optimism Ahead of Funding

Having developed from a non-profit research organization, Plasma Group in an attempt to design ?? under their new company, Optimism, which is a layer2 scaling solution of Ethereum solicited for funds to put the design in production. The Plasma Group was a non-profit organization so they had to rely on donations and small checks to sustain the daily operations.

This $3.5 million fundraising effort seeks to ensure the optimistic Rollup Solution will be successfully launched, giving developers the ability to build applications on the platform as claimed in reports.?? The funds raised will go mainly toward this development that will see the L1 development experience preserved. ?? concurrently commutes the state update off-chain and makes transactions posted when the updated state is on-chain by increasing network throughput. The whole plan for the $3.5 million fundraised was to ensure that the optimistic Rollup Solution was successfully implemented, and developers can build applications on it as claimed by reports.

??

In a Series A funding round led by Andreessen Horowitz (A16Z), a venture capital firm raised about $25 million for Optimism, a public benefit corporation that concentrates on scaling the Ethereum Network. The ?? commutes state update off-chain and ensures that transactions are posted with the state update on-chain by increasing the network throughput. It is worth noting that ZK-Rollup has adopted this technique, but the difference is that the ?? does not go the extra mile to verify that the validity of every state is updated. Optimism, a public benefit corporation, focused on improving scalability of the Ethereum Network, has raised 25 million dollars through a Series A funding round led by Andreessen Horowitz, Venture Capital firm. Since the ?? was proposed, there has been significant progress.

The last five (5) years have been spent in the crypto/blockchain enterprise. Watching football highlights and movies in his free time is his favorite pastime.

Altcoin News, Blockchain News, Business News, Cryptocurrency news, Investors News
John K. Kumi
Author John K. Kumi

Excellent Optimism, a public benefit corporation, focused on improving scalability of the Ethereum Network, has raised 25 million dollars through a Series A funding round led by Andreessen Horowitz, Venture Capital firm. Since more than five years ago he has been in the crypto/blockchain space. has been active for over some months. Optimism, the platform supporting the Optimism Wallet, announced its aforementioned partnership with the Ethereum ecosystem in the blog post published by A16Z. He mostly watches football highlights and movies in his free time.

Share
 2/25/2021

Digital & Hitech

Hotest Cryptocurrency News

End of content

No more pages to load

Next page

X