Ethereum Layer-2 developer strong goods after $ 100 million at $ 8 billion estimated
Ethereum Layer-2 developer strong goods after $ 100 million at $ 8 billion estimated
- strong goods quadruple rating in six months
- Investors rely on Layer 2 solutions
Starkware Industries, developer of Layer 2-scaling solutions for Ethereum (Ethle), that it has raised 100 million US dollars, whereby it has raised its valuation of 2 Billions have risen to $ 8 billion. Six months ago, heavy goods collected $ 50 million in a financing round of Serie C.
The Series D was headed by the risk capital company Greenoaks Capital and the investment management company Coatue. Tiger Global and other non -named investors also took part. According to the company, there is also a secondary transaction for the round, in which employees sell their shares.
We are happy to announce our Series D worth $ 100 million with an assessment of $ 8 billion.
We would like to thank Greenoaks and Coatue - our main investors, Tiger Global, and many of our existing investors - for their trust in the technology, the products and the ecosystem that we build. pic.twitter.com/0r1e1h31hk
- Starkware (@Starkwareltd) 25. May 2022
The latest financing of starware takes place in the middle of a bear market and follows the cryptic cryptocurrencies Luna and Terrausd (VAT). Nevertheless, Uri Kolodny, co-founder and CEO of strong goods, said that the salary increase was "a proof of trust" in the tech stack of strong goods.
Starkware has established itself as a prominent Ethereum layer 2 scaling protocol and rely on its stars technology to reduce the amount of information sent to Ethereum blockchain and reduce blockchain overload.
It recently launched its STARTNET Alpha 2 scaling solution. Starket uses fundamental compression technology to increase the production and safety advantages of Ethereum Layer-1 (L1) as a permission to increase.
According to Kolodny's partner Eli Ben-Sasson, co-founder and President of Starkware, the goal is to make blockchain apps as widespread as smartphone apps. "Anyone who has ever created a website can use Starknet to create a blockchain app that will be part of the Web3 revolution and will be new and exciting applications for blockchain breaking," said Ben-Sasson.
The scaling engine of strong goods, Starkex, compressed transactions by Starks before they are added to the Ethereum blockchain network. According to reports, about half a trillion dollar were traded on Starkex.
For example, the game company Immutable X has been using Starkex for two years to shape its NFTS on Ethereum. The Starkex engine increased throughput and reduced the gas costs in connection with the NFT embossing for its Gods Unchained blockchain game.
The biggest games in the world will use Ethereum NFTS.
Immutable allows these games to be built on various rollups that are tailored to your needs without fragmentation of your assets or orders, and with full access to our platform.
Next stop: strong. https://t.co/7tupqps82d
- Alex Connolly (@0xconnolly) 25. May 2022
The Post-Ethereum-Layer-2 developer strong goods worth $ 8 billion after $ 100 million is not a financial advice.