RISE, developer of Gigagas Layer 2 technology, has raised $3.2 million in seed funding. These funds will assist the company in surpassing the current performance limitations of Megagas.
Funding Announcement
Last month, RISE concluded a seed funding round of $3.2 million, led by Finality Capital with participation from Orange DAO, DACM, ether.fi Ventures, P2 Ventures, MH Ventures and Public Works. Angel investors include prominent figures such as Vitalik Buterin, Stani Kulechov, Anthony Sassano also known as sassal.eth, and DCF God, along with several notable web3 founders.
Technical Achievements
RISE's technology surpasses Megagas performance limitations by achieving over 1 billion gas per second, marking the Gigagas Era. This breakthrough has significant implications for various sectors, including DeFi, DePIN, gaming, and social networks. Key efforts to unlock the RISE stack include execution and state access optimizations to maximize throughput and minimize latency. Achievements include the release and open-source parallel EVM engine pevm, the Continuous Block Pipeline, and the RiseDB database.
Future Plans
RISE is also strongly aligned with Ethereum and decentralization principles. Efforts are focused on ensuring full node operations run efficiently with 32 gigabytes of RAM. Next year, RISE plans to implement Based Sequencing, a decentralized approach to Layer 2 block sequencing. Currently, the internal testnet is ready for developers to start building high-performance applications.
RISE continues its efforts to provide innovative solutions for enhancing scalability and performance. The company welcomes developers to join the new Gigagas Era and start building on the RISE platform.
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