Rome Crypto Startup Project
Rome is a crypto startup project that recently emerged from stealth mode with the aim of utilizing Solana as an auxiliary network to provide services to layer-2 blockchains built on Ethereum. The project has successfully secured $9 million in funding from a group of renowned investors.
Funding Details
The $9 million investment came from a group of investors including Hack VC, Polygon Ventures, HashKey, Portal Ventures, Bankless Ventures, Robot VC, LBank, Anagram, TRGC, Perridon Ventures, and notable angels such as Anatoly Yakovenko, Nick White, Santiago Santos, Comfy Capital, Austin Federa, and Jason Yanowitz.
Project Overview
Rome, founded by Anil Kumar and Sattvik Kansal, intends to establish Solana as the network supporting shared sequencers and data availability for Ethereum layer-2 blockchains. Shared sequencers play a crucial role in batching transactions and sending them to the Ethereum blockchain for settlement. The project aims to enhance decentralization and eliminate potential single points of failure in these sequencers.
Additionally, Rome seeks to enable atomic transactions between different Ethereum layer-2 networks. This functionality ensures that if any part of a transaction fails, the entire transaction is voided, with users incurring only the minimal cost of a Solana transaction.
Market Trends
Rome joins a growing number of crypto projects focused on developing shared sequencers and data availability solutions. This trend reflects the shift towards modular blockchains, where specific functions previously handled by the main Ethereum chain are decentralized and managed by alternative projects.
- Metis operates a decentralized sequencer for Ethereum layer-2 networks.
- Espresso Systems is developing an L2 sequencing marketplace.
- NEAR Foundation’s Nuffle Labs project aims to provide data availability for NEAR Protocol.
- Avail is integrating its network for data availability across various Ethereum layer-2 solutions.
Future Roadmap
Rome plans to open its closed network to developers this month, with a test network scheduled for late 2024 and the main network launch expected in mid-2025. The project’s focus on enhancing interoperability and efficiency within the Ethereum ecosystem positions it as a significant player in the evolving blockchain landscape.