Andreessen Horowitz leads $25m round for Optimism's L2 scaling solution
Optimism has been on a hiring spree and plans to expedite its mainnet launch after securing backing from Andreessen Horowitz. Optimism, a company providing Layer 2 scaling solutions for Ethereum, has secured backing from venture capital firm and Coinbase investor Andreessen Horowitz, or A16z.Andreessen Horowitz, which manages a portfolio worth roughly $16.6 billion, announced it is leading Optimism’s $25 million Series A investment round on Feb. 24.The demand for Layer 2 scaling solutions has escalated amid Ethereum’s surging fees, with average transaction costs pushing as high as $40 on....
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Layer 2 scaling solution Optimism, has secured $150M in funding which it will use to hire new developers and decrease fees on the Ethereum network. Popular Ethereum scaling solution Optimism has announced a $150 million Series B funding round co-led by Andreessen Horowitz (a16z) and Paradigm at a total valuation of $1.65 billion. According to a blog post from Optimism, the Layer 2 (L2) solution has saved users of the Ethereum network over $1 billion in gas fees. The funding will be used to expand the Optimism team and go towards working on reducing network fees even further. Fees on the....
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