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Blockchain Startup Rome Raises $9 Million: Serves Ethereum Layer-2s

Rome, a new crypto business, has come out from secret mode, announcing $9 million in funding. The idea is to use Solana as a supporting network that assists layer-2 blockchains on Ethereum. High-level investors were drawn to this investment round. 

Rome aims to leverage Solana for Ethereum Layer-2 transactions, enhancing blockchain efficiency.
Source: https://blog.internxt.com/blockchain-explained/

Key Investors 

The financing round included contributions from: 

  • Hack VC 
  • HashKey 
  • Portal Ventures 
  • Bankless Ventures 
  • Robot VC 
  • LBank 
  • Anagram 
  • TRGC 
  • Perridon Ventures 
  • Notable angels: Anatoly Yakovenko, Nick White, Santiago Santos, Comfy Capital, Austin Federa, Jason Yanowitz 

Founders and Vision 

Anil Kumar and Sattvik Kansal founded Rome. The startup aims to establish Solana as the backbone for shared sequencers and data availability (DA). 

Shared Sequencers and Data Availability 

Shared sequencers batch transactions from layer-2 blockchains and send them to the base Ethereum chain. Decentralizing these sequencers can prevent single points of failure. DA projects store transactional data from Ethereum layer-2s at lower costs than the main Ethereum chain. 

Why Solana? 

Kumar explained in an interview that Solana was chosen for its efficiency as a state machine. Compared to Bitcoin, Cosmos, and Ethereum, Solana stood out as the best option. 

Atomic Transactions 

Rome aims to enable atomic transactions between Ethereum layer-2 networks. These transactions involve multiple legs on different blockchains. If any part fails, the whole transaction is void, costing only the low fee of a Solana transaction

Competing Projects 

Rome joins other projects working on shared sequencers and DA. Here are some notable competitors: 

  • Metis: An Ethereum layer-2 project running a decentralized sequencer. 
  • Espresso Systems: Building an L2 sequencing marketplace. 
  • NEAR Foundation: Spun out Nuffle Labs with $13 million funding to provide DA. 
  • Avail: Plans to integrate its DA network into five Ethereum layer-2s, including Arbitrum, Optimism, Polygon, StarkWare, and zkSync. 

Timeline and Future Plans 

Rome will open a closed network to developers this month. A test network is planned for the end of 2024, with the main network launch expected in mid-2025. 

Summary of Features and Competitors 




Shared Sequencers 

Uses Solana as an auxiliary network 

Metis, Espresso Systems 

Data Availability 

Low-cost storage for Ethereum layer-2s 

Nuffle Labs (NEAR Foundation), Avail 


$9M from top-tier investors 

Nuffle Labs ($13M), other undisclosed amounts 

Atomic Transactions 

Between Ethereum layer-2s 

No direct competitors in atomic transactions 

Network Launch 

Closed network (2023), Test network (2024), Main network (2025) 

Various timelines depending on the project 

Rome’s innovative approach of using Solana to support Ethereum layer-2s aims to make blockchain transactions more efficient and cost-effective. The startup’s strategic funding and strong backing position it well in the competitive crypto landscape. 

July 9, 2024 at 08:00 pm

Updated July 9, 2024 at 08:00 pm


Remember, investing in cryptocurrencies involves risks, and it’s important to conduct thorough research and seek professional advice before making any financial decisions. (Please keep in mind that this post is solely for informative purposes and should not be construed as financial or investment advice.)


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