Ethereum Layer 2 Optimism Raises $150 Million in Series B Funding

Ethereum scaling solution, Optimism has raised $150 million in Series B funding, co-led by Andreessen Horowitz and Paradigm.
In the latest blog post, the blockchain startup revealed that it is currently valued at $1.65 billion. The fresh round of funding will be directed towards expanding its team.
Optimism’s Solving Ethereum’s Scalability Woes
Ethereum has established itself as an extremely popular computing platform rich with DeFi and NFT applications. The dramatic increase in developer and user demand, though, resulted in equally dramatic gas fees. Optimism, on the other hand, uses optimistic rollups to achieve significantly lower costs, latency, and far greater throughput versus Ethereum Layer 1 alone, without compromising the security features of the underlying blockchain.
After the recent fundraise, Optimism CEO Jinglan Wang was quoted saying,
“We made a commitment to the public that we would not take profit from operating centralized parts of the system, so we wanted to re

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