2 years ago
Ethereum scaling solution Optimism has raised $150 cardinal successful a Series B backing circular co-led by apical crypto investors Paradigm and Andreessen Horowitz (a16z) astatine a $1.65 cardinal valuation. The backing volition mostly spell toward hiring, according to a Medium post from the company.
Ethereum request continues to turn arsenic non-fungible tokens (NFT) and decentralized concern (DeFi) applications go much popular, which slows transaction times and pushes state oregon transaction fees higher.
Optimism is simply a furniture 2 scaling solution built connected the Ethereum blockchain that uses a transaction execution method called optimistic rollups to amended throughput and little transaction fees portion inactive maintaining the information properties of the underlying blockchain.
Optimism has astir $363 cardinal successful full worth locked (TVL) connected the platform, according to DeFi Llama data.
A16z led Optimism’s $25 cardinal Series A circular past year. At the time, Partners Chris Dixon and Arianna Simpson praised Optimism’s “exceptional team, cautiously designed developer experience, large scaling benefits, years of probe and testing, and afloat composability.”
Last summer, a16z launched what was past the largest money successful crypto manufacture past astatine $2.2 billion. Paradigm topped the fig with its ain $2.5 cardinal money launch successful November.
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