August 13, 2024
Reddio, an Ethereum layer-2 platform, announced that it has successfully completed its seed funding round. The investment was spearheaded by Paradigm and Arena Holdings. This financial boost is set to accelerate the rollout and enhance the adoption of Reddio’s high-performance parallel EVM layer-2 solution. However, the exact amount of the investment remains undisclosed.
Project | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|
Reddio | August 13, 2024 | Seed Round | Paradign, Arena Holdings | Layer 2 |
About Reddio
Reddio is a cutting-edge Ethereum layer-2 solution designed to enhance the scalability of decentralized applications (dApps) and games. Utilizing StarkWare’s zkRollup technology, Reddio offers high-performance parallel execution, enabling transactions within the same block to be processed simultaneously across multiple threads. This approach leverages multi-core servers and GPU acceleration to achieve exceptional throughput and low transaction fees. Reddio ensures Ethereum-level security through zero-knowledge proofs and maintains full compatibility with existing Ethereum smart contracts. The platform provides robust tools, including APIs and SDKs, to facilitate the seamless deployment of scalable dApps, making it accessible even to developers with limited blockchain experience
Website: https://www.reddio.com/
About Investor
The investment was spearheaded by Paradigm and Arena Holdings
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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