As a seasoned crypto investor with years of experience in the rapidly evolving blockchain industry, I’ve witnessed firsthand the challenges that come with deploying and managing Layer 2 rollups for Ethereum-based projects. The high costs, slow deployment times, and increased risks have often hindered developers from fully realizing the potential of this essential scaling solution.
Caldera, a Web3 infrastructure company focused on Ethereum rollups, has revealed the completion of a $15 million Series A investment round. To date, Caldera has secured a grand total of $25 million in funding since its establishment in 2022. Notable investors include Dragonfly, Sequoia Capital, Arkstream Capital, Lattice, and Peter Thiel’s Founders Fund.
“Thrilled to share: Our $15M Series A, headed by @foundersfund, kicks off the building process for Metalayer – Ethereum rollups’ ultimate solution 🌋
With this financing, our grand total reaches $25M. This new milestone propels us forward in achieving our vision to make Ethereum capable of handling vast web-based applications.”
— Caldera (@Calderaxyz) July 24, 2024
In simple terms, Ethereum is frequently employed in creating decentralized applications through blockchain technology. However, this process can lead to costly and lengthy transactions. To tackle this issue, Layer 2 blockchain networks such as rollups operate above the main Ethereum network. These networks improve transaction efficiency by processing multiple transactions off-chain before settling them on the main Ethereum chain.
Rollups aggregate transactions and submit them as a single batch to the Ethereum blockchain, thereby reducing transaction time and expenses. This method enables multiple transactions to be processed together, minimizing the need for individual recording on the primary or Layer 1 blockchain.
Caldera points out that current Layer 2 rollup projects come with significant costs, lengthy deployment processes, and heightened risks that call for skilled management. In response, Caldera proposes a simplified option for developers to effortlessly deploy L2 rollup networks, taking care of infrastructure maintenance and security concerns.
Caldera intends to develop the Metalayer network, a collection of advanced Web3 tools for creating customizable and fast rollups on Ethereum. This initiative brings together popular Ethereum scaling solutions such as Arbitrum Nitro, Optimism’s OP Stack, ZKsync’s ZK Stack, and Polygon CDK. By merging these frameworks, Metalayer simplifies the process of choosing the appropriate protocol for developers.
According to Matt Katz, the CEO, revolutionizing the way rollups are deployed is essential for building a scalable and decentralized blockchain infrastructure. Moreover, Caldera aspires to bridge gaps within the Ethereum network by integrating Metalayer and ensuring smooth communication between various rollup solutions.
Caldera boasts the ability to handle more than 50 rollups, accommodating over 1.7 million distinct wallets and amassing a total locked value of approximately $800 million. To date, it has facilitated over 59 million transactions. Notably, Caldera has been instrumental in the development of several well-known blockchains, including Manta Pacific, ApeChain, Treasure, Plume Network, Towns, Kinto, RARI Chain, and Zero Network, all under the Zerion umbrella.
Caldera expressed that Multilayer’s user-friendly scaling solution, which alleviates the technical pressure on developers, aims to increase the adoption of Ethereum technologies based on the blockchain.
Joey Krug, a partner at Founders Fund, stated that Caldera is aimed at two distinct markets: firstly, large-scale projects initiating rollups, and secondly, emerging teams that lack the necessary financial resources or infrastructure for such endeavors. He emphasized that the crypto industry has advanced to a stage where developers can select their preferred modular stack, much like the progression of web services.
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2024-07-24 21:56