Layer 1 Protocol Linera Closes a $6M Seed Round Led by a16z
- The Linera project will develop and promote a new model of execution suitable for linear scaling.
Layer 1 scaling protocol Linera has announced the closure of a $6 million seed round led by a16z capital. Other involved investors include Cygni Capital, Kima Ventures, and Tribe capital as participants.
Reportedly, the funds will be utilized by linera to hire more team members.
“This funding round will allow us to deliver on our vision of bringing the performance and reliability of web2 to the world of web3. We are excited to bring on board preeminent investors who share our passion for developing strong infrastructure to unlock the full potential of blockchain technologies,” noted Mathieu Baudet, Founder and CEO of Linera.
Linera Protocol and the Blockchain Scalability Solutions
The blockchain technology, according to Ethereum co-founder Vitalik Buterin, thrives on three aspects, scalability, security and decentralization. However, Buterin noted that none of the current popular chains have been able to harness the three blockchain aspects. He actually described the phenomenon as the blockchain trilema.
Consequently, Layer 1 protocols are coming up to compliment base layers scale securely. Simply, while the base chain focuses on two trilema aspects, the L1 can pay attention with the thirds. As such, the blockchains become effective by providing fast and cheap transactions.
Notably, Linear scalability usually functions as a system from Web2 where additional processing units are put in when required. As for the Layer 1 blockchain, it entails Shards, or individual threads, of the chain, adding further validators for the network to run more efficiently.
Sharding in Linera is a strategy geared toward fulfilling the three tenets of the blockchain network. The highlighted tenets to date remain a pivotal aspect in the Ethereum merge. This is primarily done to scale the network by dividing it into lesser chains.
Baudet hinted that the goal of the organization is to foster the decentralization of Linera protocol via the state-of-the-art proof of stake mechanism. He said the firm intends to also adopt scalable auditing procedures to ensure full accountability of involved validators.
Reportedly, Linera intends to assist with large-scale auditing by the community. To do this, the Layer 1 blockchain will rely on the contemporary execution model of Linera. According to the founder, Linera is monitoring the rapid and steady growth secured in the field of validity proofs.
The CEO boasted that the firm possesses engineers and researchers with vast knowledge in technical backgrounds as a founding team.
Rebecca is a Senior Staff Writer at BitcoinWisdom, working hard to bring you the latest breaking news in the cryptocurrency market. In the words of Elon Musk “Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.”
