RISE, a Layer 2 blockchain solution, has successfully raised $3.2 million in seed funding, positioning itself to lead the next wave of blockchain innovation. The funding round, finalized last month, was led by Finality Capital and saw participation from MH Ventures and other prominent investors such as Orange DAO, DACM, ether.fi Ventures, P2 Ventures, and Public Works. Notably, the round also attracted blockchain angel investors, including Ethereum co-founder Vitalik Buterin, Aave founder Stani Kulechov, Anthony Sassano (also known as sassal.eth), and DCF God, alongside several prominent web3 founders.
This substantial backing reflects growing confidence in RISE’s mission to solve one of blockchain’s most pressing challenges, scalability. RISE is not just another Layer 2 solution. It introduces a new paradigm in blockchain performance, the team coined the Gigagas Era. This era promises to unlock unprecedented scalability by leveraging innovative technologies designed to handle the massive computational demands of today’s most complex decentralized applications.
RISE was founded in 2023 by Sam Battenally, Hai Nguyen, and Sasha Mai, a team of seasoned web3 builders, and was incubated by Caliber Venture Builder, led by Loi Luu. Since its inception, the team has been driven by a singular goal, to create a blockchain infrastructure to support the next billion users.
At the heart of RISE’s vision is the concept of Gigagas, a revolutionary new metric for measuring blockchain bandwidth.
Traditionally, blockchain performance has been measured by Transactions Per Second (TPS), but this metric oversimplifies the complexities of modern blockchain usage. For instance, smart contract transactions are far more computationally demanding than simple token transfers, meaning that TPS alone doesn't capture the true strain on a blockchain’s processing capabilities.
Gigagas, on the other hand, measures the total volume of computational power (or gas) a blockchain can process, capturing the intricacies of different transaction types. RISE’s innovative architecture enables it to surpass the limitations of current Layer 2 solutions by achieving a throughput of over 1 billion gas units per second. This milestone marks the dawn of the Gigagas Era.
RISE’s architecture is built on cutting-edge innovations that allow it to deliver unparalleled performance. Among these are:
With these core technologies, RISE aims to resolve the scalability bottlenecks that have long plagued blockchain and prioritizes decentralization.
With its ability to handle complex smart contracts and high-transaction dApps, RISE is becoming the go-to platform for the next generation of blockchain projects. From DeFi to gaming and social networks, RISE's infrastructure offers the scalability and performance needed to power innovative applications.
RISE isn't just about breaking performance records. It's revolutionizing how we measure and utilize blockchain bandwidth. By surpassing the limitations of the previous standard, Megagas, and reaching 1 billion gas units per second, RISE is addressing current scalability challenges and ensuring that blockchain technology remains relevant and adaptable for the future.
With the internal testnet now live, RISE is inviting developers to start building on its high-performance platform. The team is eager to engage with innovators and dApp builders looking to push the limits of what is possible in the blockchain space.
For developers and projects ready to join the Gigagas Era, you can learn more or get involved by reaching out to the RISE team through their official website.
