THELOGICALINDIAN - StarkWare has bankrupt its Series D allotment annular bringing in 100 actor at an 8 billion valuation
The Ethereum Layer 2 developer has quadrupled its antecedent $2 billion valuation.
StarkWare Lands Another $100M in Funding
Capital is calamity into the Ethereum Layer 2 ecosystem.
StarkWare, one of alone a scattering of companies alive on ascent Ethereum application Zero-Knowledge Rollups, appear it had aloft addition $100 actor Wednesday, bringing the company’s appraisal to $8 billion.
The Series D allotment annular comes six months afterwards the Tel Aviv-based close bankrupt a $50 actor Series C raise at a $2 billion valuation. Greenoaks Capital and Coatue led the raise, while crypto advance titan Tiger Global additionally alternate alongside a host of added investors.
“This is a vote of aplomb for the tech assemblage we’ve built, which makes blockchain scalable for accumulation use, and cuts transaction fees incurred by users,” said StarkWare co-founder and CEO Uri Kolodny. “We’re encouraged that VCs are signaling their able support, alike in the bosom of a buck market,” he said.
StarkWare uses its own blazon of Zero-Knowledge Rollups alleged scalable cellophane arguments of knowledge—otherwise accepted as STARKs. With STARKs, StarkWare can actualize a additional band on top of Ethereum area affairs are “rolled up” calm and beatific aback to mainnet for confirmation. STARKs accede the aegis and decentralization of Ethereum mainnet while abbreviation gas fees by abounding orders of consequence and alms near-instant transaction finality.
StarkWare’s StarkEx artefact commonly handles added than 250,000 affairs daily, allowance applications such as dYdX, Sorare, and Immutable X accouter the aegis of Ethereum for a atom of what they would accept to pay on mainnet. The aggregation is additionally alive on a added accepted ascent band-aid alleged StarkNet. While StarkEx is application-specific, StarkNet is a absolutely interoperable Layer 2 area any developer can alpha architecture and deploying crypto apps.
StarkWare is not the alone Layer 2 activity to accomplish account in contempo weeks. Optimism, an Optimistic Rollup-based Layer 2 network, announced the barrage of its OP badge in April and is set to administer it to aboriginal users through an airdrop. While added Ethereum ascent solutions such as zkSync accept additionally accepted affairs to decentralize their networks through badge offerings, StarkWare is yet to affirm or abjure affairs to affair a token.
Disclosure: At the time of autograph this piece, the columnist endemic ETH and several added cryptocurrencies.
