The StarkWare Layer two answer raised $ 50 million

StarkWare, a Layer two answer that utilizes ZK-rollups technologies on Ethereum, has announced that it has raised $ 50 million with a valuation of up to $ two billion.

The StarkWare Layer two answer raised $ 50 million

StarkWare’s most current investment round has participation from a lot of effectively-regarded big money, which includes Sequoia Capital, Paradigm, Three Arrows Capital, Alameda Research and Founders Fund.

StarkWare is 1 of the tasks developing a Layer two scaling answer for Ethereum working with ZK-rollups technologies. This technologies allows Ethereum transaction processing outdoors the blockchain and then retransmits the transaction information on the blockchain, therefore lowering network congestion, rising transaction pace and solving large gasoline charges.

StarkWare’s Layer two answer, StarkEx, is now employed by a lot of effectively-regarded tasks, which includes the dYdX exchange and NFT platforms which includes Sorare and Immutable, with above $ 200 billion in processed transaction volume.

Layer two remedies are currently being rolled out on Ethereum, with tasks marked 💠 working with StarkWare’s answer. Source: L2Beat

As anticipated, StarkWare will roll out an open answer, StarkNet, on Ethereum at the finish of November. Unlike StarkEx, which is an individually configured scaling instrument for every undertaking, StarkNet will be a widespread Layer two network that supports a lot of various intelligent contracts, comparable to today’s preferred Layer two remedies this kind of as: Arbitrum or Optimism.

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