Latest news with #DoubleZero
Crypto Insight
18-05-2025
- Business
- Crypto Insight
The Public internet is a bottleneck for blockchain — DoubleZero CEO
Public internet infrastructure is the critical speed and performance constraint on high-throughput blockchain networks, according to Austin Federa, co-founder and CEO of DoubleZero, a project developing high-speed fiber optic communication rails for blockchains. 'The downside of the public internet is it was never built for high-performance systems. It was always built for this sort of relationship of one big server talking to one little server,' Federa told Cointelegraph in an interview at Consensus 2025. The executive explained: 'We have validators all around the world. Rotating leader schedules all the time. And then they switch from having to be massive consumers of data to extremely massive broadcasters of data. So that means that they need huge amounts of resources both on ingress and egress.' The executive added that the constraint posed by public internet infrastructure is now the limiting factor in blockchain performance and not compute power or software development. Networks like DoubleZero will make blockchains faster, decrease spreads in decentralized finance (DeFi) trades, lower transaction fees, and open up new use cases for blockchain networks that were previously unavailable due to communication infrastructure constraints. DoubleZero co-founded by Austin Federa in 2024 Austin Federa left the Solana Foundation to establish the DoubleZero Protocol in December 2024. The goal of the project is to reduce latency, the time it takes for data to travel in a network, and bandwidth — the maximum data traffic a network can handle at once. In April 2025, DoubleZero conducted a validator token sale to sell token purchase agreements to interested node operators seeking to become validators for the network. The token sale was only available to accredited investors and already active validators on high-throughput blockchain networks including, Solana, Celestia, Sui, Aptos, and Avalanche. DoubleZero's team is aiming to launch its public mainnet in the second half of 2025, following a successful $28 million capital raise. Federa told Cointelegraph that the increasingly high throughput of blockchain networks and the overall development of the industry has necessitated the building of dedicated, high-performance communication infrastructure to meet demand from increasingly sophisticated projects. Source:
Yahoo
15-03-2025
- Business
- Yahoo
How Jump and Solana vets are building a hyper fast internet for blockchains
High-frequency traders are the whiz kids of Wall Street. They either code scripts to execute quick trades to eke out small profits that, multiplied by one or ten thousand times over, result in serious cash. Or they're able to act milliseconds faster than competitors to score big bets on market swings. Speed is paramount, which is why HFT traders have created their own private networks of internet cables—now, a crypto project called DoubleZero wants to do the same to speed up blockchains. 'We can use a whole different set of technologies that have basically been standard and de facto in the high-frequency trading world… but are not available over the public internet, so they've never been applied to blockchain before,' Austin Federa, cofounder of DoubleZero and a former executive at the Solana Foundation, told Fortune. Federa's project, which has the same obsession with speed as the firms in Michael Lewis's famous HFT book Flash Boys, has already attracted capital. DoubleZero Foundation, one of the entities behind the project, announced in early March that it had raised $28 million in a seed round led by marquee crypto investors Multicoin Capital and Dragonfly Capital. Other venture capital firms that contributed were Foundation Capital, Reciprocal Ventures, DBA, Borderless Capital, Superscrypt, and Frictionless. In exchange for their cash, investors received token warrants, or promised allocations of a yet-to-be-launched cryptocurrency, Federa said. CoinDesk Solana or Ethereum are like Amazon Web Services or Google Cloud—but decentralized. And like any cloud computing network, blockchains have physical servers that process users' transactions and run programmers' apps. Currently, when servers that power the Solana blockchain, for example, need to communicate with each other, those signals run over public internet infrastructure, said Federa. DoubleZero aims to create a private network of cables to speed up a blockchain's processing power. Jump Crypto, the digital assets subsidiary of HFT firm Jump Trading, and Malbec Labs are the engineering entities behind DoubleZero. They won't be laying down physical cables to construct the network, said Federa. Not yet, anyway. Rather, the company is cobbling together underutilized bandwidth from HFT firms, private companies, and even individuals to build out a faster physical network of cables than what is currently available for blockchains. And to make sure that, just like a blockchain, this physical network is decentralized, Federa's foundation plans to launch its own cryptocurrency to reward those who contribute bandwidth to the project. Federa's other cofounders are Mateo Ward and Andrew McConnell. Ward is the former CEO of Neutrona Networks, a portfolio company of Jump Trading that specialized in building private internet networks. And McConnell was a former top engineer at Jump. This story was originally featured on Sign in to access your portfolio
Yahoo
15-03-2025
- Business
- Yahoo
DoubleZero Foundation Secures $28 Million for Blockchain Infrastructure Expansion
DoubleZero Foundation has successfully closed a $28 million token funding round, co-led by Multicoin Capital and Dragonfly Capital. The organization, which supports the DoubleZero protocol, aims to develop a global fiber network designed to enhance performance for blockchains and distributed systems. In addition to the leading investors, other participants in the funding round included Foundation Capital, Reciprocal Ventures, DBA, Borderless Capital, Superscrypt and Frictionless. The foundation plans to allocate the raised funds toward hiring personnel in key areas such as marketing, developer relations, and business development. This funding will also facilitate the network's transition from its testnet beta phase to a public mainnet anticipated later in the year. The launch of a permissioned testnet was also announced, allowing Solana validators and RPCs to participate in the testing phase. Austin Federa, co-founder of DoubleZero, indicated that the primary focus is currently onboarding Solana validators before advancing to a permissionless testnet. The testnet is operational in seven global cities: Singapore, Tokyo, Los Angeles, New York, London, Amsterdam and Frankfurt. Kyle Samani, managing partner at Multicoin Capital, explained that the public internet's bandwidth limitations and unpredictable routing create challenges in delivering reliable experiences akin to Web2. DoubleZero intends to address these issues, aiming to enhance bandwidth and reduce latency for high-performance blockchains through fiber links provided by independent network contributors. Core contributors to the project include Malbec Labs and Jump Crypto. The foundation's initiatives are positioned to lay the groundwork for a new physical infrastructure that supports the evolving landscape of blockchain technology.
