Ethereum Ecosystem Matter Labs Raises $ 50M Investment

Ukrainian startup will receive million dollars to develop second-tier solutions for scaling Ethereum.

As the INCRYPTED correspondent reports, Matter Labs was founded in 2019 by Ukrainian Alexei Glukhovsky and an emigrant from Canada Alexander Vlasov successfully conducted the second round of attracting investments in her project, which interested the Andreessen Horowitz venture fund (Mark Andresen and Ben Horowitz). The first round raised $ 6 million and was led by Union Square Ventures.

Matter Labs development should help speed up transactions, reduce gas fees and expand the Ethereum ecosystem. The solution allows you to maintain a decentralized structure, provide a high level of security, but at the same time reduce transaction costs without compromising network bandwidth. The technology will allow miners to transfer coins to accumulative packages with zero knowledge of information, that is, without external processing by the Ethereum network. with such a small investment, simply due to the huge size of the Ethereum ecosystem.

Matter Labs is not the only group to create a similar product, but their main advantage is in the debugged and tested work, as well as support for smart processing. contracts written in Solidity.

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