- RISE, a pioneering Layer 2 solution, has successfully raised $3.2 million in a seed funding round.
- This funding round was spearheaded by Finality Capital with additional contributions from various notable investors, including Vitalik Buterin and Stani Kulechov.
- “We’re thrilled to surpass the limitations of Megagas, ushering in a new era of scalability,” stated RISE co-founder Sam Battenally.
RISE has emerged as a game-changer in the Ethereum ecosystem, promising to revolutionize Layer 2 scalability with its innovative Gigagas technology.
RISE’s Landmark Seed Funding Round
RISE has recently finalized a seed funding round, raising an impressive $3.2 million. Leading the charge was Finality Capital, supported by a roster of influential investors such as Orange DAO, DACM, ether.fi Ventures, and more. This substantial investment highlights the confidence in RISE’s potential to transform the Layer 2 landscape.
Breaking Through with Gigagas Technology
The company aims to push beyond the limitations of current Megagas performance, achieving an unprecedented 1 billion gas per second. This breakthrough, termed as entering the Gigagas Era, presents significant advancements for decentralized finance (DeFi), decentralized physical infrastructure (DePIN), gaming, and social networking sectors.
Innovative Solutions for Scalability
Founded by experienced web3 developers Sam Battenally, Hai Nguyen, and Sasha Mai, RISE has been developing its technology since 2023, under the guidance of Caliber Venture Builder, led by Loi Luu. The team is focused on optimizing both execution and state access to enhance throughput while minimizing latency.
Technological Advancements
Among its innovations, RISE has developed pevm, an open-source Parallel Ethereum Virtual Machine (EVM) engine touted as the fastest public EVM executor. Additionally, the Continuous Block Pipeline continuously executes Layer 2 transactions, eliminating CPU idle time during Layer 1 consensus waits. These innovations ensure high-performance transaction processing and efficient resource utilization.
Committed to Ethereum and Decentralization
RISE places a strong emphasis on aligning with Ethereum’s principles and promoting decentralization. The company’s stack is optimized to run full nodes with just 32 GB of RAM, demonstrating its efficiency. Moreover, RISE plans to introduce Based Sequencing next year, fostering a decentralized approach to Layer 2 block sequencing, further underlining its commitment to decentralization.
Opportunities for Developers
The internal testnet is open to developers who are eager to build high-performance applications. The RISE team actively encourages developers to become part of the Gigagas Era, emphasizing the platform’s ability to handle the next generation of web3 applications.
Conclusion
RISE stands at the forefront of Layer 2 scalability solutions, equipped with groundbreaking technologies and a significant backing from the investment community. As the Gigagas Era begins, the platform is well-positioned to make substantial contributions to various web3 sectors, fostering a new wave of high-performance decentralized applications.
