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.

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.

We are thrilled to announce our $ 50 million to $ two billion C Series.

A large thank you to our major investor, @sequoia, our superb adhere to-on traders, and the dozens of ecosystem partners and contributors who participated in this round, for their vote of self-assurance in our items and technologies. pic.twitter.com/CuaeMSf2s6

– StarkWare (@StarkWareLtd) November 16, 2021

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.

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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