In a groundbreaking development for blockchain technology, Galaxy Ventures has invested $4 million in RISE Chain, bringing the total funds raised to an impressive $8 million. This funding round, supported by industry heavyweights including Ethereum co-founder Vitalik Buterin, aims to propel RISE Chain's mission of delivering unparalleled speed and scalability on Ethereum's network.
RISE Chain, a next-generation Ethereum Layer 2 blockchain, is redefining performance with its innovative 'Infinite Speed' architecture. It promises instant transaction confirmations with latency as low as 5 milliseconds and a target throughput of over 100,000 TPS (transactions per second), making it a game-changer for real-time applications.
The platform's unique 'Shreds' technology enables this record-breaking performance, positioning RISE as a leader in supporting high-frequency DeFi use cases such as orderbook strategies, options trading, and market making. Developers and users can now explore the testnet at portal.risechain.com, which has already processed over 2 billion transactions.
Neil Bhuta, an investor at Galaxy Ventures, praised RISE for addressing the blockchain scalability trilemma without compromising security. He emphasized that the project's blend of speed, scalability, and decentralization is crucial for the next wave of high-performance, trustless blockchain applications.
With this significant financial backing, RISE Chain is set to push the boundaries of blockchain technology, fostering the development of real-time decentralized applications. This investment marks a pivotal moment in bringing more assets, enterprises, and users onchain, solving key adoption challenges in the crypto space.
The future of decentralized infrastructure looks promising as RISE Chain continues to innovate, offering a foundation for advanced, real-time crypto solutions. This collaboration with Galaxy Ventures underscores the growing confidence in Ethereum-based scaling solutions and their potential to transform the industry.
Andrew Lee
