RISE Chain, a blockchain built on Ethereum, just secured $4 million in funding from Galaxy Ventures, bringing its total funding to $8 million. This boost will help them build even faster blockchain apps.
Blazing Fast Transactions
RISE aims to solve a big problem in blockchain: slow transaction speeds. They’ve created a system that boasts incredibly fast transaction times – as low as 5 milliseconds – and can handle over 50,000 transactions per second (TPS), with a goal of exceeding 100,000 TPS. This is a game-changer for things like high-frequency trading and other applications needing near-instantaneous results.
Their secret weapon? Something called “Shreds,” a new transaction architecture that makes this speed possible. They’ve already tested this on their public testnet, processing over 2 billion transactions, including a massive 50,000+ in a single second.
Decentralization and Speed: A Winning Combo
Many fast blockchains sacrifice decentralization for speed, but RISE claims to have found a way to do both. They emphasize their commitment to decentralization, avoiding the risks that come with centralized systems. They’re also working on integrating with Ethereum’s validator network to further enhance security and composability.
Key Features of RISE Chain:
- Shreds: Allows for incredibly fast transaction confirmations (as low as 5ms).
- High Throughput: Currently handles over 50,000 TPS, aiming for 100,000+.
- Based Sequencing (Coming Soon): Will improve integration with Ethereum.
- Secured Shreds (Coming Soon): Will further enhance security using Ethereum validators.
What’s Next for RISE?
RISE plans to use the new funding to further develop their platform and prepare for their mainnet launch. Developers can already explore the testnet and start building. The team is excited about the future and believes their technology will be crucial for the next generation of blockchain applications. Galaxy Ventures also expressed confidence in RISE’s innovative approach and its potential to disrupt the industry. Early investors include Vitalik Buterin and Stani Kulechov.
