Optimism, a solution that allows for transacting on Ethereum with lower fees, has scored a $150 million investment in its Series B funding round.
a $150 million investment in its Series B funding round. The round, that was co-led by A16z and Paradigm, caused the organization to reach a valuation of $1.65 billion, being one of the most valuable L2 Ethereum expansion layers.VCs are considering the relevance that these scaling technologies have for the future of Ethereum.
While Ethereum fees have been relatively low recently, during the recent bull market, this was almost never the case. To appease users not wanting to take the hit of paying these sometimes exorbitant fees, L2 solutions rose to the spotlight. Optimism is one of these solutions, based on Optimistic rollups that take L1 data to process it in batches in L2, to then return this abbreviated data to Ethereum.
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