Optimism, a solution that allows for transacting on Ethereum with lower fees, has scored a $150 million investment in its Series B funding round.
a $150 million investment in its Series B funding round. The round, that was co-led by A16z and Paradigm, caused the organization to reach a valuation of $1.65 billion, being one of the most valuable L2 Ethereum expansion layers.VCs are considering the relevance that these scaling technologies have for the future of Ethereum.
While Ethereum fees have been relatively low recently, during the recent bull market, this was almost never the case. To appease users not wanting to take the hit of paying these sometimes exorbitant fees, L2 solutions rose to the spotlight. Optimism is one of these solutions, based on Optimistic rollups that take L1 data to process it in batches in L2, to then return this abbreviated data to Ethereum.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Optimism saves users $1B in fees, raises $150M in Series BAre you ready for L2 2022? Ethereum scaling solution Optimism has announced a $150 million Series B funding round co-led by Andreessen Horowitz and Paradigm at a total valuation of $1.65 billion.
Read more »
Cricket NFT Marketplace to Raise $100M in Series A Funding Round: Report.0xFanCraze, which last year secured a partnership with the ICC to develop a cricket NFT marketplace, is raising about $100 million in Series A funding, according to Bloomberg. By JamieCrawleyCD
Read more »
'WeCrashed': Why Gwyneth Paltrow Is an Unseen Character on the SeriesWeCrashed producers Lee Eisenberg and Drew Crevello detail why Gwyneth Paltrow is brought up but not seen in the new AppleTV miniseries.
Read more »
Godzilla Series Icon Akira Takarada Has Passed Away at 87Godzilla series icon Akira Takarada has passed away at 87, after a lifetime of 'Godzilla' roles. Godzilla kaiju
Read more »
Meet the Candidates - A Virtual Event SeriesElection season is approaching and you get to decide who your next L.A. Mayor and Los Angeles County Supervisor (District 3) should be. We know elections are confusing so we are breaking it down for you... Our VoterGamePlan2022 site is now live!
Read more »
Mississippi in the Know: Legislative Breakfast SeriesHave you been keeping up with issue of Medicaid expansion in Mississippi? Bring your appetite and questions for the third and final Mississippi in the Know: Legislative Breakfast next Thursday, where we will be joined by State Economist Corey Miller.
Read more »