HomeBlockchainNodeKit has secured $1. 2 million to make a network using Avalanche...

NodeKit has secured $1. 2 million to make a network using Avalanche for rollups.

-

The NodeKit team, who are working on the Avalanche-based network SEQ, has received $1. 2M in funding from Borderless Capital, the Avalanche Blizzard Fund, Polygon Ventures, and Wormhole Cross-Chain Ecosystem Fund.

NodeKit is making a network called SEQ to help rollup chains start and spread out their transactions in a simple way. SEQ will work as its own blockchain or smaller network within the Avalanche system.

Most rollup chains in the Ethereum ecosystem will work with SEQ’s software, including smart contract rollups and frameworks like OP Stack. Also, rollups that work together with SEQ will be able to connect with each other across different blockchains.

“NodeKit lets rollups work together smoothly, which allows for creative rollup designs and gives on-chain applications the ability to compete with off-chain applications,” said Noah Pravecek, who is the CEO of NodeKit. “This allows rollups to have both decentralization and lots of users without having to pick one over the other. ”

SEQ’s design will also work with different data availability layers like Celestia.

SEQ will be tested in 2024 and the main release will come after that.

Using Avalanche’s HyperSDK to our advantage.

SEQ is one of the first big projects made with Avalanche’s HyperSDK software toolkit. HyperSDK gives developers the ability to customize and improve custom blockchains on top of Avalanche.

NodeKit is Avalanche’s first step into the very competitive and fast-growing Ethereum Layer 2 market. Layer 2 sequencers make money when people buy and sell things. The most popular Layer 2s, like Optimism and Arbitrum, have earned millions of dollars in fees recently.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

A well-known expert thinks the price of Bitcoin will reach $64,000 in 2025.

In a big deal, Bitcoin went past $64,000 on Thursday, which hasn't happened in over two years. Bitcoin is doing really well right now. Its...

EOS shows it is keeping 2 million EOS safe.

In the ever-changing world of decentralized finance (DeFi), protecting digital assets is most important. Recent EOS events demonstrate the importance of strong security. The recovery...

AI is the future for making diets and preventing diseases that are made specifically for each person.

AI is being used to make diet plans that are personalized and can help you lose weight and stop illnesses like Alzheimer's and cancer. ...

Strike CEO Jack Mallers says company will start offering services in Africa.

Today, Jack Mallers, the CEO of Strike, has announced the expansion of Strike's suite of Bitcoin services into several African markets. I just published Announcing Strike...

Most Popular

ADVERTISE HERE