The funding spherical was led by Paradigm and Andreessen Horowitz.
Key Takeaways
- Optimism raised $150 million in its Series B funding spherical.
- The funding spherical was led by Paradigm and Andreessen Horowitz.
- Optimism’s crew eminent its Layer 2 scaling solution has saved users $1 billion in gas expenses.
Ethereum Layer 2 scaling startup Optimism has launched a $150 million Series B funding spherical.
Optimism Closes Series B Raise
Optimism has launched a $150 million Series B funding spherical.
Led by one of the well-known most illustrious firms within the change, at the side of Paradigm and Andreessen Horowitz, the spherical brings the startup’s valuation to $1.65 billion. The funding spherical comes extra than a year after Optimism’s Series A spherical, which was led by Andreessen Horowitz last February.
Optimism is a Layer 2 scaling solution for Ethereum that employs Optimistic Rollups as manner of shifting chubby transaction records off the predominant blockchain. Whereas it depends on Ethereum’s consensus mechanism to be obvious its underlying security, Optimism is prepared to again the community scale by storing its blocks within a special neat contract known as the Canonical Transaction Chain (CTC).
In a weblog post, the crew at Optimism claimed to respect carve expenses by extra than 30% over the last year while focusing grand of its consideration on offering the single developer expertise possible. The crew additionally claimed to respect saved users over $1 billion in gas expenses, with Calldata compression slated to trek are residing in weeks. The crew additionally eminent its plans to make contributions to EIP-4844.
In an interview with TechCrunch, Optimism’s chief executive Jinglan Wang acknowledged,
“We’re attempting to be future proof, so we’re no longer closing the doors to the probability of integrating a ZK [Ethereum Virtual Machine] down the line. We’re additionally pragmatics, and we don’t desire our work to toil without a stop in sight in tutorial hell; we desire of us to make expend of it.”
Optimism has lagged Arbitrum, one more Optimistic Rollup solution, when it comes to total charge locked by a astronomical margin. On the opposite hand, Arbitrum has suffered from community outages sooner than. Every Optimism and Arbitrum noticed Aave V3 deployments this week.
Disclosure: At the time of writing, the author of this fragment owned BTC, ETH, and several other cryptocurrencies.
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