We’ve settled over $200 billion and settled over 50 million transactions.”
StarkWare’s particular scaling solution is what’s called a zero-knowledge rollup; it processes a number of transactions on its platform and inscribes the bundled data to the Ethereum network. Unlike competing “optimistic rollups,” which rely on a network of validators to ensure that the bundled data is legitimate after it’s published, zero-knowledge proofs leverage cryptography to mathematically ensure that everything is up to snuff before publishing it. Those cryptographic proofs require more computational effort than other solutions, but their more secure architecture has led plenty of developers to believe they are the future of scalability for the Ethereum network.
Some of StarkWare’s customers include ConsenSys, Immutable, dYdX and Sorare.
This move is a further step in Opera’s strategy to make the use of crypto more mainstream: In 2018, Opera introduced the first browser with a seamless built-in crypto wallet and dApp explorer, later integrating more blockchains including Bitcoin, Celo and others and introducing very easy fiat-to-crypto on-ramps in the browser and bringing crypto capabilities to its desktop and iOS browser.
In January 2022, Opera announced the beta launch of its Crypto Browser Project, a dedicated Web3-browsing experience that will integrate Layer 2 solutions in the near future.
“It’s part of Opera’s DNA to make accessing the web easier. We have been providing extreme data savings, privacy or ad blocking features to our users around the globe.
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Starkware ethereum layer 50mm
While Ethereum 2.0 will bring these benefits to the entire Ethereum blockchain, current Layer 2 Zero-Knowledge solutions are designed to handle transactions off the Ethereum mainnet while taking advantage of the Layer 1 settlement and security model.
Zero-Knowledge scaling solutions use cryptography to ensure transactions’ validity and to validate it on Ethereum mainnet. This allows for faster and cheaper processing and higher scalability and makes the experience of transacting with Ethereum more user-friendly.
To start transacting with Layer 2, all users need to do is install the beta version of Opera for Android, go to settings, open the crypto wallet feature and activate the L2 card there.
Users can deposit fiat directly (via Moonpay) or deposit Eth from their Layer 1 wallets.
Despite being one of the more renowned investment firms in the tech sector, Sequoia has been slower to fully embrace crypto startups, leaving competitors like Andreessen Horowitz space to back more early players through dedicated funds. Sequoia first backed StarkWare back in 2018, though this is the first time leading a round for the startup.
A recent report from The Information detailed that a quarter of Sequoia’s new investments this year were made in blockchain startups.
“The main thing that distinguishes us in the L2 ecosystem… is that we are basically servicing the largest throughput today in terms of both transactions and volume across all the [L2] solutions out there,” co-founder Eli Ben-Sasson tells TechCrunch.
In 2018, Opera introduced the first browser with a built-in crypto wallet and web3 support. Opera is headquartered in Oslo, Norway and listed on the NASDAQ stock exchange (OPRA).
In January 2022, Opera unveiled the beta version of its Crypto Browser Project, a dedicated web3 browsing experience that currently supports Ethereum and will integrate more chains in the near future.
StarkWare invented, and continually develops, STARK-based Layer-2 Validity Proof scaling solutions over Ethereum.
StarkWare’s solutions, which rely on Ethereum’s security, have settled over $400B, and over 100M transactions, serving hundreds of thousands of users.
StarkNet, StarkWare’s permissionless general-purpose scaling solution, is live (Alpha) on Ethereum Mainnet.
It will lower the barrier of entry costs and allow tens of millions of Opera users to participate in the exciting world of Ethereum DeFi at a fraction of the price. These users today are being priced out of the market due to high transaction costs on Ethereum”, said Uri Kolodny, co-founder & CEO at StarkWare.
The integration was made possible through collaboration with Gateway.fm, a blockchain-backend company which led the integration and helped Opera achieve it in record time by building upon DeversiFi’s existing infrastructure, which provides markets and liquidity for its swapping and trading features.
Layer 2 is a collective term for solutions designed to help scale applications, speed up transaction times and lower the transaction costs thus making them more user- and environment-friendly.
From there, they’ll be able to swap and transfer tokens directly in the wallet, powered by DeversiFi. Ethereum Layer 2 is available in the beta version Opera browser for Android, available here.
The Opera Crypto Browser Project will also integrate Layer 2 solutions in the near future.
Opera is a global web innovator with an engaged and growing base of hundreds of millions of monthly active users who seek a better internet experience. Building on over 25 years of innovation that started with browser products, Opera is now leveraging its brand and highly engaged user base in order to expand its business into new segments.
Today, Opera offers users around the world a range of products and services that include PC and mobile browsers, the newsreader Opera News, and apps dedicated to gaming, fintech, crypto, e-commerce and classifieds.
Now it’s time to remove one of the key hurdles associated with the use of web3: exorbitant gas fees and slow network speeds,” said Jorgen Arnesen, Opera’s EVP Mobile.
“Through this integration, the everyday Opera user is able to seamlessly interact with DeFi on a user-friendly interface and experience a completely new way to interact with financial services. Layer 2 technologies are revolutionising the blockchain industry and we are proud to be working with Opera to bring our frictionless, low-cost gas-free trading solution, combined with StarkEx’s scalability benefits, to their millions of users.
Integrating our DeFi infrastructure in this way is just the start, and is tipping the scales of mainstream adoption of Layer 2”, said Will Harborne, co-founder and CEO of DeversiFi.
“Opera’s integration of the StarkEx solution is a gamechanger.
Summary: According to a report from The Block, StarkWare, an Ethereum layer 2 development firm that uses ZK-rollups technology, raised $50 million in the C round of financing and is now valued at $2 billion. The round was led by Sequoia Capital. Paradigm, Three Arrows Capital, Alameda Research, IOSG Ventures, Founders Fund, etc participated. The C round …
According to a report from The Block, StarkWare, an Ethereum layer 2 development firm that uses ZK-rollups technology, raised $50 million in the C round of financing and is now valued at $2 billion.
The round was led by Sequoia Capital. Paradigm, Three Arrows Capital, Alameda Research, IOSG Ventures, Founders Fund, etc participated. The C round brings StarkWare’s total funding to date to $162 million.
Layer-2 (L2) blockchains, which build on the Ethereum network, offloading the computational stresses while still writing transaction data to the main network.
StarkWare, which builds an Ethereum scaling solution called StarkNet, has just closed a $50 million Series C led by Sequoia Capital. The raise comes several months after the firm raised a $75 million Series B led by Paradigm, a crypto VC firm co-led by former Sequoia Capital partner Matt Huang.
This latest raise values the Israeli startup at a whopping $2 billion.
Crypto VC firm Paradigm debuts monster $2.5 billion fund
As the Ethereum network continues to swell in popularity despite traction from competing blockchains with deeper efficiency, investors are starting to dump more money into the infrastructure startups aiming to help Ethereum scale to more users and more transaction volume.