"DoubleZero Network: Revolutionizing Blockchain Infrastructure with $28M Funding"
1min read The DoubleZero Network, a project aiming to become a parallel internet for blockchains, is set to launch its public mainnet in the second half of 2025. The network, founded by Solana Foundation strategy lead Austin Federa and crypto entrepreneurs Andrew McConnell and Mateo Ward, recently completed a $28 million funding round and launched a testnet beta.
The DoubleZero Network aims to provide an alternative to the public internet, allowing network operators to contribute underutilized bandwidth to a dedicated network built for systems like blockchains. According to a March 5 statement from the DoubleZero Foundation, the network hopes to enable network operators to contribute their fiber infrastructure, creating a more efficient and scalable network for distributed systems.
In a March 5 post to X, Austin Federa, co-founder of DoubleZero, emphasized the importance of fairness and multicast in the network's design. He stated that the project is an attempt to bring private networking technology to blockchains and distributed systems on a network owned by its operators, with the goal of providing equal access to data for everyone on the network.
The DoubleZero Foundation is building the network to become the legacy technology powering the next half-century of distributed systems. Federa believes that the bottleneck for blockchain is now on the network and data transport layer, not the compute. The current ambition for crypto, according to Federa, is too small, and the DoubleZero Network aims to provide a new fiber infrastructure network that can securely power distributed systems at mass scale.
The protocol recently completed a $28 million token round co-led by venture capital firms Multicoin Capital and Dragonfly Capital. The funding will be used to hire more staff for the mainnet rollout later this year. In conjunction with the funding round, the foundation also launched a testnet beta for Solana validators and Remote Procedure Calls across seven cities: Singapore, Tokyo, Los Angeles, New York, London, Amsterdam, and Frankfurt, with additional cities coming to mainnet later in the year.
