LBank Labs Announces Investment in Rome Protocol to Revolutionize Ethereum Layer-2 Scalability

– LBank Labs proudly announces its strategic investment in Rome Protocol, a pioneering project that leverages Solana to enhance the efficiency and scalability of Ethereum Layer-2 solutions. This investment is part of a $9 million funding round that includes top-tier investors such as Hack VC, P2 Ventures, HashKey, Portal Ventures, Bankless Ventures, and several notable angel investors.

Leveraging Solana’s rapid and efficient throughput, thanks to its Proof of History and Tower BFT algorithms, Rome Protocol offers significant advantages such as enhanced speed, improved user experience, and reduced costs. It addresses key challenges like low censorship resistance, single points of failure, limited interoperability, and opaque ordering, setting a new standard for Layer-2 scalability.

"Rome Protocol's approach to using Solana for shared sequencers and data availability represents a significant advancement in the Solana space. By leveraging Solana's Proof of History and Tower BFT algorithms, Rome addresses key challenges such as low censorship resistance, single points of failure, and limited interoperability," said Nathalie Yang, Principal at LBank Labs.

Rome Protocol plans to open a closed network to developers this month, with a test network slated for the end of 2024 and a main network launch in mid-2025. This timeline reflects their commitment to rigorous development and testing to ensure a robust and reliable platform for their users.LBank Labs, with its $100 million AUM, is renowned for its strategic investments in the blockchain and cryptocurrency space.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Binance Labs Boosts Solana Restaking Ecosystem with Solayer InvestmentCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

This European Hedge Fund Giant Announces $464 Million Investment in Spot Bitcoin ETFsCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

SoftBank swings back to investment gain at Vision Fund, announces up to $3.4 billion share buybackSoftBank announced it would buy back up to 6.8% of shares available amounting to up to 500 billion yen ($3.4 billion).
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »

Bitcoin holds $56,000 level as Metaplanet announces a $69 million investment to bolster its holdingsBitcoin's (BTC) price is recovering its initial weekly losses, trading 1.2% higher at $56,666 at the time of writing on Wednesday after a 7% drop on Monday.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Anti-woke investment company announces millions in new funding, plans to launch wealth management offeringStrive Asset Management has announced it raised $30 million in Series B funding and will be launching a new wealth management offering due to increased demand for its services.
Source: FoxBusiness - 🏆 458. / 53 Read more »