To upgrade Ethereum Layer-2 with Solana capabilities, Rome Protocol raises $9 million

  • Ethereum-based rollups would be able to employ Solana as a shared sequencer thanks to the Rome Protocol.

In order to include modular services from the Solana network into Ethereum’s ecosystem, Rome Protocol has raised $9 million in a financing round.

According to the protocol, a number of well-known investors, including Hack VC, Polygon Ventures, HashKey, Portal Ventures, Bankless Ventures, Robot VC, LBank, Anagram, TRGC, and Perridon Ventures, were part in the funding round.

Notable angel investors like Austin Federa and Anatoly Yakovenko of Solana were also a part of the round. Nick White, Santiago Santos, Jason Yanowitz, and Comfy Capital were among the other investors.

Rome Protocol

The protocol stated that the platform would be made to incorporate Solana’s features into Ethereum services.

By using Solana as a shared sequencer, Ethereum-based rollups will be able to expedite transaction confirmation, improve scalability and privacy, and save blockchain expenses.

Rome Protocol noted that on the network’s rollup-centric plan, Ethereum’s isolated sequencer feature creates questions regarding interoperability, weakest link security, and liquidity dispersion. As a result, centralized sequencers are used in many rollups, which increases the danger of censorship, visibility restrictions, and crucial downtime.

Rome Protocol will make it possible for rollups to employ Solana’s current validators as shared sequencers for transactions, state maintenance, and transaction publication in order to address these issues. The goal of this strategy is to use Solana’s capacity for over 50,000 transactions per second (TPS) as the foundation for Ethereum rollups. Additionally, by having transactions validated on Solana before being submitted to Ethereum, it guarantees atomic composability.

Rome Protocol will let up developers to concentrate on creating their applications rather than creating new frameworks for cross-chain interoperability. Ethereum programmers can do state maintenance and execution using well-known technologies like OP Stack.

Architecture for shared sequencers

The Rhea, Remus, Romulus, and Hercules features are included in the suggested shared sequencer architecture.

Remus will improve atomic transactions across rollups, while Rhea will provide equitable sequencing and submission to Solana.

Hercules will take ordered transaction blocks from Solana, whereas Romulus will enable atomic transactions between Solana and different rollups.

Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.

Author: Puskar Pande

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