Rome: A Solana-Powered Crypto Startup Emerges with $9M Funding

Rome, a crypto startup project aiming to leverage Solana as an auxiliary network to provide services to layer-2 blockchains built on Ethereum, has come out of stealth mode. The project recently announced that it has secured $9 million in funding from a group of top-tier investors.

Funding and Investors

The $9 million financing round was led by Hack VC, Polygon Ventures, HashKey, Portal Ventures, Bankless Ventures, Robot VC, LBank, Anagram, TRGC, Perridon Ventures, and notable angels including Anatoly Yakovenko, Nick White, Santiago Santos, Comfy Capital, Austin Federa, and Jason Yanowitz.

Founders and Vision

Rome was founded by Anil Kumar and Sattvik Kansal. The project aims to establish Solana as the network supporting shared sequencers and data availability (DA) for Ethereum layer-2 blockchains.

Technology and Innovation

Rome’s approach involves setting up Solana as the backbone for shared sequencers, which batch transactions and send them to the Ethereum blockchain for settlement. The project also focuses on facilitating “atomic transactions” between Ethereum layer-2 networks, ensuring transaction integrity and cost-efficiency.

Market Trends and Competition

Rome joins other crypto projects in the development of shared sequencers and DA, reflecting the trend of modular blockchains. Competitors such as Metis, Espresso Systems, NEAR Foundation’s Nuffle Labs, and Avail are also exploring similar solutions to address scalability and cost challenges in the blockchain ecosystem.

Development Roadmap

Rome plans to open its closed network to developers this month, with a test network expected by the end of 2024 and a main network launch scheduled for mid-2025. The project aims to offer innovative solutions for Ethereum layer-2 interoperability and data management.