Claim BonusEthereum L2 Protocol StarkWare Raises $100 Million At $8 Billion Valuation
Ethereum’s layer two protocol, StarkWare has ended its series D funding at $100 million. The announcement was made in a tweet by the company, few hours ago. StarkWare Industries is a layer two Ethereum block protocol, founded on January 1, 2018. Its headquarters is located in Netanya, HaMerkaz, Israel.
StarkWare Attain $8 Billion Quadruple In Six Months
The company is currently valued at $8 billion, following its latest series D funding. The company’s first series funding dates back to Oct. 28, 2018. The series A funding was led by venture capital firms, Sequoia Capital and Paradigm. It added 18 investors and six partners. $30 million was raised.
On March 24, 2021, the company embarked on a Series B funding and successfully added eight investors and seven partners. A huge $75 million was raised. Few months later, the company launched its Series C funding, on Nov. 16, 2021.
The fund closed with $50 million and the company’s total value appreciating from $2 billion to $6 billion. Three investors and two partners were added. The latest Series D funding has led to a $8 billion valuation after closing at $100 million.
Prediction Of A Layer 2-driven Future
An anonymous user on Reddit has given his projection of what the future holds for Ethereum-based assets. According to him, L1 thrived because of an absence of competition, evidenced by attaining the sales phase while competition was still in the development phase.
He believes scaling and the perception of a better Blockchain would fast become a commodity. The future would mean even more competition in the L2, which is a good thing, considering the fact that they are decentralized.
He believes that there is a process for an L2 adoption and even though its not moving swiftly, they are already better options in terms of “reliability, decreasing fees, and increasing accessibility.” Despite all of these, the door is still open for development.
The user clearly believes Ethereum is unrivaled. In his own words, “Ethereum is and will be the only credibly neutral blockchain in existence.”
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Crypto Traders Reduce Fed Rate Cut Expectations Even as Expert Calls Fed Chair Nominee Kevin Warsh ‘Dovish’
- Crypto, Banks Clash Over Fed’s Proposed ‘Skinny’ Accounts Ahead of White House Crypto Meeting
- XRP News: Ripple Expands Custody Services to Ethereum and Solana Staking
- Bernstein Downplays Bitcoin Bear Market Jitters, Predicts Rally To $150k This Year
- Breaking: Tom Lee’s BitMine Adds 40,613 ETH, Now Owns 3.58% Of Ethereum Supply
- Cardano Price Prediction as Bitcoin Stuggles Around $70k
- Bitcoin Price at Risk of Falling to $60k as Goldman Sachs Issues Major Warning on US Stocks
- Pi Network Price Outlook Ahead of This Week’s 82M Token Unlock: What’s Next for Pi?
- Bitcoin and XRP Price Prediction as China Calls on Banks to Sell US Treasuries
- Ethereum Price Prediction Ahead of Feb 10 White House Stablecoin Meeting
- Cardano Price Prediction as Midnight Token Soars 15%
