Linera Protocol, a cutting-edge layer-1 blockchain, has raised $6M, propelling total funding to $12M, revolutionizing web3 scalability.
Empowering Blockchain Innovation with $6M Seed Funding
Linera Protocol, a cutting-edge layer-1 blockchain platform, has made waves in the tech world by securing an additional $6 million in seed funding. This substantial influx of capital has elevated their total funding to a remarkable $12 million, marking a pivotal moment in their journey.
Linera Protocol Unveiling the Vision: Microchains and Unprecedented Scalability
In an official statement released on August 16, 2023, Linera Protocol expressed their delight in achieving this significant milestone. “We are pleased to announce that we have raised an additional $6 million, for a total of $12 million in seed funding,” the statement read. Looking ahead, the team envisions introducing microchains, an innovation that promises to bring unparalleled horizontal scalability to the realm of web3 applications.
Trailblazing Funding Round Led by Borderless Capital
The funding round that propelled Linera Protocol’s growth was spearheaded by Borderless Capital, a name synonymous with strategic investments in transformative tech ventures. Laser Digital Ventures, DFG, and Cadenza also made substantial contributions, underscoring the widespread confidence in Linera Protocol’s potential.
Fueling Growth and Expansion Efforts
With the newly acquired funds, Linera Protocol is poised to bolster its growth initiatives. The expansion of their talented team, the imminent launch of devnet and testnet platforms, and the establishment of a robust presence in the APAC region are all on the horizon. This influx of resources marks a pivotal step towards realizing their vision.
Microchains: Redefining Scalability and Responsiveness
One of the core aspects that sets the Linera Protocol apart is its innovative use of microchains. These microchains serve as the building blocks for unprecedented horizontal scalability and rapid response times in the dynamic world of Web3 applications. This breakthrough has the potential to reshape the landscape of blockchain technology.
Empowering Developers with a Vision
Linera Protocol’s commitment to advancement is further highlighted by their introduction of a Software Development Kit (SDK). This toolkit empowers developers to create Linera-based applications and explore its rich features. The SDK supports multiple programming languages, with Rust taking the lead as the primary language for building WebAssembly (Wasm) applications.
Nurturing Innovation with Developer School
In their ongoing efforts to engage and nurture talent, Linera Protocol has initiated the Developer School program. This visionary initiative extends a four-week program to developers, aimed at helping them master the intricacies of the multichain programming paradigm. This commitment to education underscores their dedication to fostering the next generation of blockchain pioneers.
A Bright Future Beckons
Linera Protocol’s innovative approach to funding and development, coupled with their unwavering focus on scalability and developer engagement, positions them as a true contender in the rapidly evolving blockchain landscape. With a fresh injection of funding and a trailblazing vision, the future looks promising for this dynamic force in the world of blockchain technology.
What is Linera Protocol
Linera is the first blockchain infrastructure optimized to provide web3 applications with unprecedented horizontal scaling, bringing the infinite scalability of Web2 to Web3. Founded by Mathieu Baudet, a former Meta/Novi engineer and researcher with a PhD in cryptographic protocols, Linera redefines blockchain scalability by pioneering microchains – lightweight chains that operate in parallel within a common set of validators.
Mathieu Baudet (Founder/CEO of Linera) holds a PhD in security protocols and years of experience building distributed systems as an infrastructure engineer at Meta. As a researcher on Libra/Novi, he worked on an academic protocol called FastPay which laid the foundations for the Linera protocol.
Linera Protocol Technology
The competition for blockspace in traditional Layer 1 blockchains, coupled with limited production rates and block sizes, creates a bottleneck during traffic peaks, leaving users outpriced or delayed, rendering the infrastructure effectively unavailable.
This is in part due to the design of the infrastructure itself: architectures based on a single chain make users compete for blockspace. This makes sense for applications that require a shared state between all users (e.g. AMMs, order books, flash loans). Yet, many applications are more naturally organized in terms of user accounts and objects.
