Ethereum’s second-tier developer StarkWare is valued at US$2B after financing US$50 million
StarkWare, Israel Announce It was announced via Twitter on November 16 that it had raised $50 million in Series C financing, and the company’s valuation is now $2 billion. Sequoia Capital is the main investor, as well as other contributors. Seven months ago, StarkWare Raised $75 million in Series B financing Leaded by paradigm.
We are pleased to announce the acquisition of the $50 million Series C at a price of $2B.
Thank you very much to our main investors, @Sequoia, Our outstanding follow-up investors, and dozens of ecosystem partners and collaborators who participated in this round of financing, cast a vote of confidence in our products and technologies. pic.twitter.com/CuaeMSf2s6
— StarkWare (@StarkWareLtd) November 16, 2021
This news coming Before the release of StarkNet Alpha 2, this is an upgrade to the zero-knowledge aggregation technology or ZK-Rollup on the Ethereum mainnet, and it is currently planned to be deployed at the end of November. The company said that StarkNet Alpha plans to support the deployment of licensed smart contracts, opening up extension technology to anyone who wants to build on it.
StarkWare is one of the few Ethereum layer 2 extension protocols. Despite the increase in natural gas prices, the adoption rate has surged. Its StarkEx L2 scalable engine allows partners such as the trading platform dYdX to submit on-chain transactions in ZK-Rollups. This minimizes transaction costs by reducing the amount of natural gas.Nearest dYdX exchange Released the governance token DYDX, and the airdrop exceeded $100,000 For the most active users.
There are two main types of aggregation techniques, ZK and optimistic aggregation. Although the optimistic summary assumes that the transaction is valid by default and only runs calculations, ZK-summary generates zero-knowledge proofs to verify transactions and continuously submit these proofs to the Ethereum main network. With ZK-rollup, verifying a block and transferring funds will be faster and cheaper because it contains less data.
Starkware’s L2 competitor Polygon also launched the Miden virtual machine powered by zk-STARK Used to develop decentralized applications, also known as DApps.