Eclipse Layer 2 Successfully Raises $50 Million

The Layer-2 platform developed on Solana, Eclipse, has recently successfully raised $50 million from various prominent investors in the market.

Azcnews Breaking

Eclipse Labs, the developer of Eclipse Layer 2, has recently announced a successful Series A funding round, raising $50 million and bringing the total raised capital to $65 million.

Leading this investment round are Placeholder and Hack VC, with other participating funds including Polychain Capital, Delphi Digital, Maven 11, DBA, Fenbushi Capital, Flow Traders, GSR, Apollo Global Management, and OKX Ventures.

According to the announcement, this new funding is earmarked for the development of Layer 2 solutions for the Ethereum network, utilizing the Solana Virtual Machine (SVM).

With the goal of integrating SVM into Ethereum, Eclipse Labs aims to provide an advanced Layer 2 solution that connects the two largest ecosystems today: Ethereum and Solana. Neel Somani, the founder of Eclipse Labs, shared in a statement:

Eclipse combines high-performance SVM with deep liquidity on Ethereum, while eliminating verification constraints

Ethereum needs a Layer 2 that is interoperable, scalable, and unique, capable of handling up to 99% of use cases

Related: Guide to Claiming 40 OUIX Tokens (Free)

About Eclipse

Eclipse Mainnet is Ethereum’s fastest Layer 2, powered by the Solana Virtual Machine (SVM).

1eclipse Svm Mainnet

Eclipse Mainnet combines the best pieces of the modular stack:

  • Settlement: Ethereum – Eclipse will settle to Ethereum (i.e., the enshrined validating bridge will be on Ethereum) and use ETH as its gas token.
  • Execution: Solana Virtual Machine (SVM) – Eclipse will run the highly performant SVM as its execution environment.
  • Data Availability: Celestia – Eclipse will post its data to Celestia for scalable data availability (DA).
  • Proving: RISC Zero – Eclipse will use RISC Zero for ZK proofs of fraud (without intermediate state serialization!)

It is anticipated that the development team will launch the final mainnet version in the second quarter of this year.

0.0/5

Love

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest

What Is Cosmos Atom Information About Atom Token

Altcoin | Editor Choice | News | Research

What is Cosmos ATOM? Information about ATOM Token

What is Cosmos (ATOM)? Learn about the operating mechanism and outstanding features of Cosmos along with detailed information about the tokenomics of ATOM Token!

Important Update About Dogs Airdrop On Telegram

Airdrops | Editor Choice | News

Important Update about Dogs Airdrop on Telegram

DOGS on Telegram has announced important updates about their DOGS token distribution plan and the addition of a new "check-in" feature.

Azcnews Binance Delists Multiple Trading Pairs On Platform

News | Editor Choice | Policy & Regulations

Binance Delists Multiple Trading Pairs on Platform

Binance will delist specific spot trading pairs on July 26, 2024. The AVAX/TUSD, MATIC/TUSD, and VOXEL/BTC pairs will no longer be available for trading.

Altlayer Moves Up Alt Token Unlock Schedule, Mimicking Worldcoin

News | Altcoin | Editor Choice

AltLayer Moves Up ALT Token Unlock Schedule, Mimicking Worldcoin

The AltLayer (ALT) restaking solution has announced that they will move up the token unlock schedule to the present time.

Azcnews Large Inflows Into Ether Etfs On First Day Of Trading

News | Altcoin | Editor Choice

Large Inflows into Ether ETFs on First Day of Trading

Bloomberg ETF analyst Eric Balchunas described the $625 million trading volume, excluding Grayscale's ETHE, as "healthy" and anticipated that a "significant portion" of this amount would translate into inflows.