RISE Chain Secures $4 Million Investment From Galaxy Ventures For Mainnet Development

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. This capital will be directed towards building out the project’s forthcoming mainnet, bringing RISE’s total capital raised to $8 million. Earlier support came from prominent crypto figures including Ethereum co-founder Vitalik Buterin.

The team behind RISE is dedicated to developing a high-throughput, low-latency blockchain to tackle what they see as a major obstacle to mainstream adoption: performance at scale. The project aims to compete with other fast transaction speed solutions like MegaETH, as well as established layer-2 incumbents like Arbitrum or Base. RISE achieves sub-block transaction confirmations, known as “Shreds,” with latencies as low as 5 milliseconds. Its target throughput is over 100,000 transactions per second (TPS), surpassing most existing Layer 1 and Layer 2 networks.

RISE Chain believes that the speed of its product will be particularly suitable for applications that require rapid transaction processing, such as central limit order books. Beyond this, the team sees potential in interactive social networks and gaming. Currently in testnet, RISE Chain plans to launch its mainnet later this year, along with a related token.

Galaxy's investment in RISE Chain is part of a broader trend where venture capital firms and financial institutions are increasingly backing blockchain and cryptocurrency technologies. This trend reflects the growing recognition of blockchain's transformative potential across various industries, including finance, supply chain management, and digital identity. Galaxy's backing of RISE Chain underscores the potential of Layer-2 solutions to address key challenges in the blockchain ecosystem, such as scalability and transaction costs.

The funding will accelerate the development of RISE Chain's technology, promising faster transaction speeds and lower costs compared to traditional Layer-1 solutions. This investment highlights the growing interest in Layer-2 technologies as the blockchain industry continues to evolve. Galaxy's strategic move positions itself at the forefront of this technological revolution, aiming to create a more connected and efficient blockchain ecosystem.

In addition to technological advancements, the investment will support RISE Chain's efforts to build a robust ecosystem of developers, partners, and users. This ecosystem is crucial for the widespread adoption of RISE Chain's Layer-2 solutions, providing the necessary support and resources for developers to build and deploy applications on the platform. The funding will also enable RISE Chain to expand its team of experts, driving innovation and ensuring the success of the platform.

This investment by Galaxy in RISE Chain marks a significant milestone for the blockchain industry, demonstrating growing confidence in Layer-2 technologies. As the demand for scalable and efficient blockchain solutions continues to rise, RISE Chain is well-positioned to play a pivotal role in shaping the future of the industry. With Galaxy's support, RISE Chain is poised to make significant strides in the development and deployment of its ultra-fast Layer-2 solutions, paving the way for a more efficient and interconnected blockchain ecosystem.