NodeKit is developing SEQ, a decentralized shared sequencer on a custom Layer 1 (L1) blockchain, with the aim of enhancing cross-rollup interoperability and decentralizing transaction sequencing for rollup chains, particularly in the Avalanche ecosystem. SEQ enables seamless interoperability among various rollup chains, fostering innovative designs without compromising decentralization or user growth. This makes NodeKit’s SEQ a notable entry into the competitive Ethereum Layer 2 landscape.
Key Features of NodeKit’s SEQ:
- Decentralized Shared Sequencer: SEQ is designed to be a decentralized shared sequencer that operates on a custom Layer 1 blockchain. It aims to address the centralization issue overshadowing rollups by providing a cost-effective, lightning-fast, and decentralized sequencer.
- Cross-Rollup Interoperability: SEQ enables seamless interoperability among different rollup chains. It orders blocks for multiple rollups, allowing for atomic inclusion using atomic bundles within the same block. This cross-rollup interoperability enhances the overall efficiency and effectiveness of rollup chains.
- Enhanced Decentralization: By incorporating a decentralized network of validators, NodeKit aims to enhance the decentralization of rollup chains. This helps mitigate the risks associated with centralization, such as critical censorship and performance issues.
- Support for Avalanche Ecosystem: NodeKit’s SEQ is specifically designed to operate within the Avalanche ecosystem. It leverages the capabilities of Avalanche’s HyperSDK software toolkit, which offers customizability and optimization for custom blockchains built atop Avalanche.
Recent Updates on NodeKit’s SEQ:
- Pre-Seed Funding: NodeKit recently raised $1.2 million in a pre-seed round led by Borderless Capital, with participation from Avalanche’s Blizzard Fund, Polygon Ventures, Wormhole Cross-Chain Ecosystem Fund, and other angel investors. The funding will be used to further develop and decentralize the next generation of rollups powered by SEQ.
- Timely Solution: With the proliferation of Layer 2 solutions (rollups), NodeKit’s raise and development of SEQ come at a crucial time. Most Layer 2 solutions remain highly centralized, posing risks to the overall network. NodeKit aims to solve this centralization problem by actively working with each rollup and guiding them towards greater decentralization.