Blockchain and cryptocurrency project investments are extremely important. Especially with the funds raised, projects come to life for themselves. They also provide significant earnings to their investors when they fulfill their promises. Today, a blockchain initiative caught attention with the funds raised in a financing round.
Modular Blockchain Eclipse Raises Massive Funds
Eclipse, before its mainnet launch, raised $50 million in a Series A funding round led by Placeholder and Hack VC. With the latest round, it increased its total funding to $65 million. Other investors in this round included Polychain Capital, Delphi Digital, Maven 11, DBA, and Fenbushi Capital.
A modular blockchain refers to a blockchain structure that includes different design layers. These layers encompass functions such as execution, consensus, agreement, and data availability.
Eclipse’s founder Neel Somani stated that he believed there was a lack of suitable Layer-2 scaling solutions on Ethereum. Somani mentioned that there are many underdeveloped projects to enhance Ethereum‘s user experience and that Eclipse aims to be the most performant Layer-2.
How Was Eclipse Created?
Eclipse was created using the Solana Virtual Machine (SVM) for execution, Celestia for data availability, and Ethereum for consensus.
Somani mentioned that data transmission will become more cost-effective with the implementation of EIP 4844, but for now, they will continue to use Celestia. The team is considering publishing some data on Ethereum after Danksharding.
Somani pointed out that publishing all transactions on a data availability layer has advantages, even for zk rollups.
When Will It Hit the Market?
Eclipse plans to launch its mainnet in the second quarter of 2024. The company has so far released a devnet and testnet version and is testing several dapp infrastructures such as NFT marketplaces like Rarible, oracle infrastructure like Pyth Network, and lending protocols like Solend.
After the mainnet launch, the company will sponsor hackathons, participate in accelerators, and organize community events. The significant amount raised in Eclipse’s last funding round demonstrates that the project’s promises have impressed major companies.
