Ethereum: Starkware raises $ 100 million for the blockchain

Star D series – StarkWare is a company contributing to the scalability of dapps on Ethereum (ETH). With this $ 100 million fundraiser, he sees his valuation quadruple, after a recent funding round.

$ 100 million for scalability on Ethereum

The start Starkware announced, the collection of 100 million dollarsin a Series D funding round. This funding round is led by investment firms Greenoaks Capital and Coatue.

StarkWare was founded in 2017. It provides applications on Ethereum with scalability solutions.

Its website states that StarkWare can offer applications of any size, “the same low marginal cost of gas per transaction “. SHARP technology o SHARED tryout used by the two platforms, StarkEx and StarkNet, enables this feat.

Sorare, ImmutableX and dYdX, are among the well-known blockchain projects in the cryptosphere. They use StarkEx as a scaling engine on Ethereum. StarkNet, on the other hand, is a decentralized application development network.

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Skip Rating: StarkWare is increasingly popular with developers and investors

This Series D funding round will enable StarkWare to “increase our efforts in product development, engineering and business development,” in the words of the startup’s CEO, Uri Kolodny, to media The Block.

This newly raised capital will also be used for ” develop our ecosystem around StarkEx and StarkNet “.

StarkWare’s rating is now 8 billion dollars. This latest fundraiser quadrupled the startup’s valuation to $ 2 billion in November 2021. The company had already raised $ 50 million in Series C funding round.

Uri Kolodny attempted to justify this significant increase in StarkWare’s rating. Summons the growing popularity of the startup. The developer and investor communities would in fact realize that the latter offers:

“(…) The most complete, powerful, robust and future-proof solution for blockchain scaling and that there is considerable interest in joining StarkWare. “

Is StarkWare the latest Ethereum 2 layer? This isinterview with the founder of the startup, Eli Ben-Sassonwill likely be of interest to Journal du Coin readers who want to learn more about blockchain scaling issues.

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