Solana-Powered Startup Rome Raises $9M to Boost Ethereum Layer-2s: A Game Changer for Scalability?
Coindesk2 weeks ago
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Solana-Powered Startup Rome Raises $9M to Boost Ethereum Layer-2s: A Game Changer for Scalability?

Solana
Ethereum
Layer2
Blockchain
Startup

Summary:

  • Rome, a crypto startup, is using Solana to provide shared sequencers and data availability (DA) services for Ethereum layer-2 blockchains.

  • This approach aims to address Ethereum's scalability issues by leveraging the efficiency of Solana.

  • Rome's shared sequencers and DA services help to decentralize critical components of Ethereum layer-2s, enhancing security and reliability.

  • The startup has raised $9 million in funding from prominent investors, indicating strong confidence in its potential.

  • Rome is part of a growing trend towards modular blockchains, where specialized projects handle specific functions, promoting innovation and efficiency.

Rome: A Solana-Powered Solution for Ethereum Layer-2 Scalability

Rome, a crypto startup, is making waves by utilizing Solana as a supporting network to provide essential services for Ethereum layer-2 blockchains. This move aims to address the scalability challenges faced by Ethereum, a leading blockchain platform.

Key Services:

Rome's focus is on providing two critical services:

  • Shared Sequencers: These are vital for batching transactions and sending them to the Ethereum main chain for finalization. Decentralizing sequencers is crucial to prevent single points of failure.
  • Data Availability (DA): DA projects ensure the storage of vast amounts of transaction data generated by Ethereum layer-2s, reducing the cost burden on the Ethereum network.

Addressing Scalability Issues:

The increasing reliance on "modular" networks, where specific functions are handled by dedicated projects, is a key trend in the blockchain space. Rome's approach, using Solana as a foundation for shared sequencers and DA, aligns with this trend and offers a potential solution to Ethereum's scalability limitations.

Further Advantages:

Rome's strategy also enables "atomic transactions" between different Ethereum layer-2 networks. This means transactions across multiple chains will either succeed entirely or fail altogether, guaranteeing a seamless experience for users.

Joining the Modular Blockchain Revolution:

Rome joins a growing number of projects focused on developing shared sequencers or DA. This shift towards modularity is transforming the blockchain landscape, allowing for specialization and innovation in specific areas.

Rome's Roadmap:

  • Closed Network Access: Available to developers starting this month.
  • Test Network: Launching at the end of 2024.
  • Main Network Launch: Planned for mid-2025.

Investing in the Future:

Rome has secured $9 million in funding from prominent investors, including Hack VC, Polygon Ventures, HashKey, and notable angel investors. This significant financial backing underscores the potential of Rome's solution and its role in shaping the future of Ethereum scaling.

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