Project Optimism, behind the development of the Ethereum Layer-2 solution L2 Optimistic Ethereum (OΞ), has closed a $25 million Series A round. It was led by the leading Silicon Valley venture firm Andreessen Horowitz (a16z).
Excited to help support the Ethereum ecosystem as it continues its rapid growth with our investment in @optimismPBC. @cdixon & @AriannaSimpson are backing this exceptional team on its Layer 2 scaling solution and world-class developer and user experience: https://t.co/MV3dvINTq2
— a16z (@a16z) February 24, 2021
“Optimism is on track for a phased rollout that will be completed this year. We are pleased to be partners and to support the Ethereum ecosystem in its rapid growth.”, — a16z.
Within the venture firm, the current throughput bottlenecks in the second-largest by market cap are seen as evidence of its “extraordinary popularity” among users and developers.
At a16z they chose Optimism after evaluating various approaches to Layer-2 solutions and the teams behind them.
According to the firm’s representatives, the project benefited from substantial scalability advantages, the high professionalism of its developers, the research and tests they conducted, and the full compatibility of the solution.
The raised funds will enable Optimism to roll out standalone mainnet deployments in March. Previously, this was planned for the public testnet.
This frenzy of hiring was made possible by our Series A, led by @a16z and @cdixon @AriannaSimpson — thank you🙏.
— Optimism (@optimismPBC) February 24, 2021
The Optimism team is building the solution on the basis of [simple_tooltip content=’Технология группирует несколько транзакций в одну, снижавая нагрузку на основную сеть Ethereum’]Rollups[/simple_tooltip]. Analysts Messari say that this technology will preserve Ethereum’s edge as it moves to ETH2, despite the emergence of new, promising alternatives.
In January, the synthetic-asset platform Synthetix carried out a preliminary launch of OΞ.
Earlier, the decentralized cryptocurrency derivatives exchange dYdX announced the launch of its Layer-2 protocol on the Ethereum mainnet. It is built on the StarkEx engine and a custom implementation of ZK-Rollup technology called zkSTARKS.
Subscribe to ForkLog’s channel on YouTube!