Latest news with #SamBattenally
Int'l Business Times
2 days ago
- Business
- Int'l Business Times
Galaxy Ventures Backs RISE Chain, $8M Raised to Launch Fastest Zone for Real-Time Apps on Ethereum
Sydney, Australia, June 9th, 2025, Chainwire With the support of Galaxy Ventures and previous investment from notable industry leaders like Vitalik Buterin, RISE sets out to solve the blockchain adoption challenge with its exponentially faster blockchain technology; offering real-time performance of as low as 5ms latency and a 100k TPS target, while maintaining a decentralization-first roadmap. RISE, a real-time blockchain scaling Ethereum with record throughput and ultra-low latency, announced a $4 million investment from Galaxy Ventures, bringing total funds raised to date to $8 million. This latest funding round will enable RISE to continue to push the boundaries of blockchain performance and develop the next generation of blockchain applications. Offering instant transaction speeds is a key pillar of bringing more assets, enterprises, and users onchain, but building a blockchain that provides this has been difficult to date. RISE, a new blockchain built on top of Ethereum, solves this with its breakthrough transaction architecture, powered by Shreds which enable record-breaking latency as low as 5-milliseconds. This is especially significant for advanced DeFi use cases such as orderbook strategies, options, high-frequency trading, and market making. RISE launched its public testnet earlier this month, which has already undergone significant battle testing, reaching over 2 billion transactions, including over 50,000 transactions processed in a single 1-second block. This enables developers to experiment and build onchain apps that operate with a new standard of performance, introduced as 'Infinite Speed': real-time performance, decentralized. By rethinking blockchain design from first principles, RISE addresses a fundamental tradeoff where low latency and high throughput previously required compromising decentralization. Competing blockchains often rely on centralized approaches, introducing censorship risk and single points of failure. RISE was built from day one to deliver unstoppable performance without sacrificing decentralization, enabling real-time transactions on widely accessible, standard hardware. RISE will also implement performance-compatible based sequencing to leverage Ethereum's vast network of validators and unlock synchronous composability between Ethereum and RISE. Key Differentiators of RISE: Shreds: Sub-blocktime transaction confirmations enabling as low as 5ms round-trip latency Scalable Throughput: Currently benchmarked at over 50,000 TPS, with plans to exceed 100,000 TPS Based Sequencing (Coming Soon): Unlocking a true extension of Ethereum and solving liquidity fragmentation for users Secured Shreds (Coming Soon): Preconfirmations economically secured by Ethereum Validators, significantly improving the security profile 'Performance is only meaningful if it lasts,' said Sam Battenally, co-founder and CEO of RISE. 'RISE was built to stay fast—forever. This investment from Galaxy Ventures underscores the need for infrastructure that doesn't just scale technically, but scales trustlessly. We're excited to accelerate toward mainnet and bring the next generation of crypto apps into reality.' RISE will use the funding to support product and app development in the lead-up to mainnet launch. Builders can explore the testnet now at 'RISE is the first project we've seen that addresses the scalability trilemma without material security tradeoffs,' said Neil Bhuta, Investor at Galaxy Ventures. 'It brings a level of speed, scalability, and decentralization that is essential to supporting a new generation of high-performance applications. We're proud to back a talented team that is pushing the boundaries of blockchain technology.' About RISE RISE is a next-generation Ethereum Layer 2 blockchain redefining performance with 'Infinite Speed'—delivering instant transaction confirmation at unprecedented scale, while upholding Ethereum's core principle of decentralization. Its architecture enables as low as 5ms latency and will support over 100,000 TPS, unlocking a radically improved experience for both developers and users. Seed investors include Ethereum co-founder Vitalik Buterin and AAVE founder Stani Kulechov. For more information, users can visit Contact Co-Founder and CEO Sam Battenally RISE Labs sam@
Yahoo
2 days ago
- Business
- Yahoo
RISE Chain Secures $4M From Galaxy to Power Ultra-Fast Layer-2
RISE Chain, a layer-2 blockchain focusing on speed and low latency, has secured a $4 million investment from Galaxy Ventures, the venture arm of Galaxy Digital. The capital will go towards building out the project's forthcoming mainnet. This brings RISE's total capital raised to $8 million, following earlier support from prominent crypto figures including Ethereum co-founder Vitalik Buterin. The team behind RISE is focusing on building a high-throughput, low-latency blockchain to address what it views as a core barrier to mainstream adoption: performance at scale. The project is hoping to take on competitors with their ultra-fast transaction speeds like MegaETH, or big layer-2 incumbents like Arbitrum or Base. According to a press release shared exclusively with CoinDesk, RISE achieves sub-block transaction confirmations—called 'Shreds'—that deliver latencies as low as 5 milliseconds. Its target throughput is over 100,000 transactions per second (TPS), exceeding most existing Layer 1 and Layer 2 networks, according to the team. Ultimately, the team behind RISE believes that the fastestness of its product will be a natural fit for speed-sensitive applications like central limit order books. 'I think [that one] is just ultimately inevitable,' said Sam Battenally, the CEO of RISE, in an interview with CoinDesk. Beyond that, Battenally believes the use cases are quite vast, but believes 'a lot of interactive social networks and gaming seems to be quite promising.' RISE is currently in testnet, but the team hopes to launch its mainnet later this year as well as a token related to the project. Read more: Galaxy, Fireblocks to Operate Nodes on Bitcoin Layer-2 Botanix
