Optimism, a startup centered on the scalability of the Ethereum blockchain community, has raised a $25 million Collection A funding spherical led by Andreessen Horowitz.
A16z mentioned in a blog post published Wednesday that its funding adopted a interval of ” varied approaches and groups constructing Layer 2s.”
“Optimism is at present within the midst of a phased rollout, and can be prepared for large-scale manufacturing later this 12 months. We’re thrilled to accomplice with Optimism, and to assist help the Ethereum ecosystem because it continues its speedy progress,” Chris Dixon and Arianna Simpson wrote within the submit.
The newest funding spherical comes greater than a 12 months after the startup’s founders raised $3.5 million to create Optimism, as The Block beforehand reported. The startup grew out of a non-profit analysis group generally known as Plasma Group.
Optimism is growing Optimistic Rollup with the intention of boosting the scalability of Ethereum. Optimistic Rollup is a scaling answer that aggregates transactions onto a Layer 2 protocol. The startup’s work is probably notably related at present given the excessive price of transacting n Ethereum.