RISE Chain Reaches $8M in Total Funding with New Backing from Galaxy Ventures

RISE Chain, a blockchain project developing a high-performance scaling layer for Ethereum, has announced a new strategic investment from Galaxy Ventures. The latest funding round, which included a $4 million contribution from Galaxy, brings the company's total capital raised to $8 million.

The investment is earmarked to accelerate the development and launch of what RISE Chain describes as the "fastest zone for real-time apps on Ethereum." The project is designed to overcome the performance limitations of the Ethereum mainnet, catering specifically to applications that demand near-instantaneous transaction processing, such as decentralized finance (DeFi), gaming, and social media.

At the heart of RISE Chain's innovation is its proprietary "Shreds" technology. The company reports that this unique architecture has enabled it to achieve groundbreaking results on its public testnet, including latency as low as 5 milliseconds and the successful processing of over 2 billion transactions. This level of performance aims to provide developers with the infrastructure needed to build sophisticated, real-time applications that are not currently feasible on existing blockchain networks.

The backing from a major industry player like Galaxy Ventures provides a significant vote of confidence in RISE Chain's technology and its vision for the future of decentralized applications. With this new capital, RISE is well-positioned to push the boundaries of blockchain performance and deliver a powerful new environment for developers building on Ethereum.