Supported by a16z, Laser Digital and Borderless Capital, the blockchain layer1 Linera introduces the concept of microchains “to offer morescalability.
Thursday, the team behind the project Linera has announced that it has completed a financing round from 6 million dollars led by American VC Borderless Capital.
Linera develops a layer 1 blockchain network with low latency and “unprecedented” horizontal scaling designed to host DApps.
The Palo Alto startup founded in 2021 introduces the concept of ” microchains “A “light blockchain” can be run simultaneously in a single set of validators.
With microchains, eliminating mempools and minimizing interactions with validators, Linera brings infinite scalability from Web2 to Web3. Linera offers a paradigm shift comparable to the evolution of databases from SQL to NoSQL, paving the way for the next generation of Web3″ applications, claims Linera in a blog post.
The tour de table L1 includes a myriad of major investors well known in space crypto with Laser Digital, Block1, Eterna Capital, MH Ventures, Matrixport, Flow Traders, GSR Markets, Andreessen Horowitz and Tribe Capital, among others, already backing the project.
“Mathieu and the linera team have designed a truly innovative multi-chain architecture which opens up a wider design space for developers and their end-users,” commented Ali Yahya, partner at a16z.
The funding will be used to expand the start-up’s workforce and accelerate the development of its blockchain. This second operation brings the total funds raised by Linera to 12 million dollars.
The Linera system evolves by adding chains, not by increasing the size or production rate of blocks. The number of microchains present in the Linera system is supposed to be unlimitedproviding unlimited block space as a service, says Linera.
This week, another layer1, ZetaChain, also raised funds. The latter focuses on interoperability between major blockchains.
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