In a significant development in the blockchain ecosystem, Radius, a pioneering blockchain technology company, has successfully raised $1.7 million in a pre-seed funding round. The funding initiative was spearheaded by Hashed VC and also saw participation from a host of other investors, including Superscrypt, Lambdaclass, and Crypto.com.The groundbreaking work of Radius, focuses on Practical Verifiable Delay Encryption (PVDE) and Miner Extractable Value (MEV)-resistant ZK-Rollups, a Layer 2 solution. With these innovations, Radius aims to separate the tasks of sequencing and execution, thereby addressing the damaging effects of centralized sequencing where a single entity exercises control over the ordering of transactions in a block. Or in simple words, Radius is making the blockchain more efficient and secure, by preventing the unfair manipulation of transaction orders.
We’re incredibly thrilled to announce our $1.7M pre-seed round led by @hashed_official, joined by @superscrypt, @class_lambda, and @Cryptocom_Cap.Radius brings a new paradigm for trustless shared sequencing, revolutionizing the way modular blockchains are built and operated. pic.twitter.com/3QIFHCZLER
— Rádius | Trustless Shared Sequencer (@radius_xyz) June 22, 2023
Essentially Radius’s PVDE technology helps to protect the privacy of transactions by encrypting them. This makes it harder for anyone to manipulate the order of transactions to their advantage, a practice known as maximum extractable value (MEV).
“We are committed to setting the standard for a trustless shared sequencing layer that not only maximizes revenue for Rollups but also safeguards users from the harmful effects of MEV.” said the founder of Radius, AJ Ji Hoon Park.
In addition to PVDE, Radius is also developing an MEV-resistant decentralized exchange named 360, aiming to shield users from front-running bots and sandwich attacks. While the launch date for 360 remains unconfirmed, Radius plans to release an early version of its sequencing layer solution early next year, marking another significant milestone in its journey to reshape blockchain technology.Radius has also announced a partnership with Saga, a Rollup-as-a-Service, and joined the Celestia Ecosystem. This collaboration aims to further advance rollup technology and enhance blockchain ecosystem security.
Radius plans to launch an alpha version of its sequencing layer in the first quarter of 2024, marking its commitment to the further development of blockchain technology.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.