coindesk.com
RISE Chain, a layer-2 blockchain focusing on speed and low latency, has secured a $4 million investment from Galaxy Ventures, the venture arm of Galaxy Digital.
The capital will go towards building out the project’s forthcoming mainnet. This brings RISE’s total capital raised to $8 million, following earlier support from prominent crypto figures including Ethereum co-founder Vitalik Buterin.
The team behind RISE is focusing on building a high-throughput, low-latency blockchain to address what it views as a core barrier to mainstream adoption: performance at scale. The project is hoping to take on competitors with their ultra-fast transaction speeds like MegaETH, or big layer-2 incumbents like Arbitrum or Base.
According to a press release shared exclusively with CoinDesk, RISE achieves sub-block transaction confirmations—called “Shreds”—that deliver latencies as low as 5 milliseconds. Its target throughput is over 100,000 transactions per second (TPS), exceeding most existing Layer 1 and Layer 2 networks, according to the team.
Ultimately, the team behind RISE believes that the fastestness of its product will be a natural fit for speed-sensitive applications like central limit order books. “I think [that one] is just ultimately inevitable,” said Sam Battenally, the CEO of RISE, in an interview with CoinDesk. Beyond that, Battenally believes the use cases are quite vast, but believes “a lot of interactive social networks and gaming seems to be quite promising.”
RISE is currently in testnet, but the team hopes to launch its mainnet later this year as well as a token related to the project.
Read more: Galaxy, Fireblocks to Operate Nodes on Bitcoin Layer-2 Botanix