Crypto-focused venture capital firm Paradigm is leading a $225 million funding round into a new layer-1 blockchain network that aims to compete with Solana and other top networks. The funding round was completed by Monad Labs, which plans to build a faster and more cost-effective layer-1 smart contract network compared to Ethereum.
Crypto VC Paradigm is leading a $225 million funding round into a new layer-1 as VC interest in crypto investments continues to rise.
The funding round was completed by blockchain firm Monad Labs, which aims to build a new layer-1 smart contract network with faster speed and lower costs compared to Ethereum. “We’re emerging from roughly two years of development… At a time when a lot of the research community was focused on roll-up, data availability, and other directions of scaling, Monad basically went really deep on the pure execution side.”
Crypto VC Funding Round Layer-1 Blockchain Network Solana Monad Labs Smart Contract Ethereum
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