Ethereum Network Witnesses Funding of $8 Million for RISE Chain by Galaxy Ventures, Aiming to Deploy Swift Zone for Instant Applications
Welcome to the Daily Hodl, your digital finance hub, focusing on crypto, blockchain, trading, and more! Today we’ve got exciting news about RISE, a cutting-edge Ethereum Layer 2 blockchain aiming to conquer the blockchain adoption challenge.
Fasten Your Seatbelts for Lightning-Quick Experience Ahead
Swiftly eyes on RISE, a real-time blockchain scaling solution built on Ethereum, equipped to cater to the need for speed and scalability. Boasting its breakthrough transaction architecture, RISE's Shreds technology lets transactions confirm in as little as five milliseconds. This 'Infinite Speed' performance brings a new degree of usability for the crypto realm and advanced DeFi use cases such as orderbook strategies, options, high-frequency trading, and market making.
With its launch of the public testnet earlier this month, RISE has already undergone rigorous battle testing, processing whopping over two billion transactions, including over 50,000 transactions within a single one-second block. The fantastic news? Developers can get in on the action right here.
Decentralization First, Compromises Not Included
Unlike competing blockchains relying on centralized approaches which potentially introduce censorship risk and single points of failure, RISE prides itself in pioneering unstoppable performance without sacrificing decentralization. RISE was built from the ground up to meet this goal, ensuring real-time transactions on widely accessible, standard hardware.
See You at the Mainnet Launch – RISE Gets $4 Million Investment
Now backed by a $4 million investment from Galaxy Ventures, RISE's total funds raised now stand at an impressive $8 million. This latest funding round will fuel RISE to push forward, innovating blockchain performance, and develop the next generation of blockchain applications.
Sam Battenally, co-founder and CEO of RISE, shared his enthusiasm,
Galaxy Ventures' investor, Neil Bhuta, added,
RISE will utilize the funds to support product and app development, leading up to the mainnet unveiling. Builders can dive deep in the testnet action here.
Stay tuned for more updates on RISE, as revolutionary improvements in blockchain performance empower the real-time, decentralized future of crypto applications!
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- The funding of $8 million by Galaxy Ventures will aid RISE in rapidly developing the next generation of blockchain applications, focusing on cryptocurrency and altcoins.
- RISE's innovative blockchain technology, built on Ethereum, boasts lightning-quick performance for enhanced decentralized finance (DeFi) use cases, such as high-frequency trading and market making, making it an attractive investment option.
- With its strong emphasis on maintaining decentralization, RISE's blockchain solution promises to deliver unstoppable performance without compromising on core principles, setting itself apart in the rapidly evolving technology landscape.
