Rise Chain, a Layer-2 blockchain that focuses on speed and low latency, has obtained an investment of $ 4 million from Galaxy Ventures, the Venture arm from Galaxy Digital.
The capital will go to building up the upcoming mainnet of the project. This raises the total capital of Rise to $ 8 million, after previous support from prominent crypto figures, including Ethereum co-founder Vitalik Buterin.
The behind Rise team is aimed at building a blockchain with low latency with high latency to tackle what it regards as a core barrier for mainstream acceptance: scale performance. The project hopes to record competitors with their ultra-fast transaction speeds such as Megaeth, or large low-2-established operators such as arbitrum or basic.
According to a press release that is only shared with Coindesk, Rise Sub-Blok transaction provisions-“Shredden”-who deliver latencies as low as 5 milliseconds. The goal throughput is more than 100,000 transactions per second (TPS), which, according to the team, exceed the most existing layer of 1 and layer 2 networks.
Ultimately, the team behind Rise believes that the fastest of its product will be a natural fit for speed -sensitive applications such as central limit order books. “I think [that one] In the end it is just inevitable, “said Sam Battenally, the CEO of Rise, in an interview with Coindesk. Furthermore, Battenally believes that the use cases are quite huge, but believes that “many interactive social networks and gaming seem much promising.”
Rise is currently in TestNet, but the team hopes to launch its mainnet later this year, as well as a token related to the project.
Read more: Galaxy, Fireblocks to operate nodes on Bitcoin Layer-2 Botanix
Credit : cryptonews.net
