- Modular blockchain Eclipse secures $50 million in Series A funding round.
- Eclipse focuses on scalability, user experience, and data availability to transform the blockchain industry.
- The company plans to launch its mainnet in Q2 2024 and has attracted interest from prominent dapps.
Modular blockchain Eclipse has recently announced the successful completion of its Series A funding round, securing an impressive $50 million in investment. The funding round was led by Placeholder and Hack VC, with participation from renowned investors such as Polychain Capital, Delphi Digital, Maven 11, DBA, and Fenbushi Capital. This latest injection of capital brings Eclipse’s total funding to an impressive $65 million, further solidifying its position as a key player in the blockchain industry.
Blockchain Modularity
Blockchain modularity, a concept at the core of Eclipse’s vision, refers to the division of different design layers within a blockchain stack. Traditional blockchains, including Bitcoin, Ethereum, and Solana, tend to carry out various functionalities using the same set of nodes. However, modular blockchains, like Eclipse, distinguish themselves by separating these functionalities into specialized layers, including execution, settlement, consensus, and data availability.
Superior Scalability and User Experience
Neel Somani, the visionary founder of Eclipse, firmly believes that existing layer-2 solutions on Ethereum lack the scalability required for widespread adoption. While there are numerous theoretical solutions and infrastructure projects aimed at mitigating liquidity fragmentation, Somani asserts that there is immense untapped potential at the execution layer, which can significantly enhance the user experience on Ethereum.
Eclipse positions itself as a performant layer-2 solution, leveraging the Solana Virtual Machine (SVM) for execution, Celestia for data availability, and Ethereum for settlement and consensus. This unique combination of technologies empowers Eclipse to deliver exceptional scalability, speed, and efficiency, addressing the current limitations experienced within the Ethereum ecosystem.
Leveraging Data Availability Solutions
Despite the impending Dencun upgrade, which promises to make data posting more affordable through the introduction of EIP 4844, Eclipse intends to continue utilizing Celestia for data availability, at least for the foreseeable future. While some anticipate that data storage costs will become negligible after Dencun, Somani remains skeptical. He emphasizes the importance of maintaining data availability through reliable solutions like Celestia, ensuring transparency and enabling prompt verification of zk proof systems.
Embracing Transparency and Advancements
The Eclipse team remains committed to constant monitoring of data availability advancements on Ethereum’s layer-1. As the infrastructure landscape evolves, the team acknowledges the value of stability and current live dependencies. While considerations are underway for publishing certain data, such as state diffs, to Ethereum following full Danksharding, Eclipse recognizes the advantages of publishing all transactions onto a data availability layer, even for zk rollups. This approach enhances transparency, enabling users to easily verify the integrity of zk proof systems and detect potential tampering or compromise.
Mainnet Launch and Ecosystem Expansion
Exciting developments lie ahead for Eclipse, as the company plans to launch its mainnet in the second quarter of 2024. Building upon the successful release of its devnet and testnet versions, Eclipse has already garnered interest from several prominent dapps, including NFT marketplace Rarible, oracle infrastructure provider Pyth Network, and lending protocol Solend. In addition to its product development efforts, Eclipse aims to foster a thriving ecosystem by sponsoring hackathons, accelerators, and community events, providing valuable resources and support to its growing user base.
Conclusion
In conclusion, Eclipse’s recent Series A funding round, led by Placeholder and Hack VC, marks a significant milestone for the modular blockchain project. With a strong focus on scalability, user experience, and data availability, Eclipse aims to revolutionize the blockchain industry by delivering superior performance and transparency. As the company gears up for its mainnet launch and expands its ecosystem, it is poised to become a leading force in the ever-evolving world of blockchain technology.
Disclaimer
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from any company.
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