Ethereum Scaling Firm Optimism Boosts $25 M in Series A

by in Blockchain News

Optimism funding

A startup, constructing Layer 2 scaling clue for the Ethereum ecosystem Optimism, boosted $25 M in Series A backstopping. The procession was led by a private American financing provider Andreessen Horowitz also known as a16z.

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The firm issued an article concerning its view of Ethereum and supporting Optimism. As reported, a16z has studied a number of strategies of the organizations working on Layer 2s in order to solve scalability issues. They chose Optimism as the company exploits rollups to reach reduced fees and transaction delays. Rollups use smart contracts on a separate blockchain ahead of their transmission to the mainnet, thus "wrapping" transactions together.

Besides, Optimism offers a first-rate developer experience.

There is a high request for Layer 2 scaling innovations for Ethereum as its average purchase price went up to $40 on Feb. 23.

A16z mentioned that the development of Ethereum is a sign of high interest, along with the medium potential of Ethereum blocks stabilizing about 98%.