In a major development of the blockchain ecosystem, radiusa leading blockchain technology company, has successfully Raised $1.7 million in pre-seed funding. The financing plan was led by Hashed VC with participation from a number of other investors, including Superscrypt, Lambdaclass and Crypto.com.Radius’ pioneering work focuses on Practical Verifiable Delayed Encryption (PVDE) and Miner-Resistant Extractable Value (MEV) ZK-Rollups, a Layer 2 solution. Through these innovations, Radius aims to separate the tasks of ordering and execution, thereby addressing the disruptive effects of centralized ordering, where a single entity exercises control over the ordering of transactions in blocks. Or simply put, Radius makes the blockchain more efficient and secure by preventing unfair manipulation of trade orders.
Radius brings a new paradigm for trustless shared ordering, revolutionizing how modular blockchains are built and operated. pic.twitter.com/3QIFHCZLER
— Radius | A trustless shared sorter (@radius_xyz) June 22, 2023
Essentially, Radius’ PVDE technology helps 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 ordering layer that not only maximizes Rollups revenue but also protects users from the harmful effects of MEV,” said AJ Ji Hoon Park, Founder of Radius.
In addition to PVDE, Radius is also developing an MEV-resistant decentralized exchange called 360, which aims to protect users from front-running bots and sandwich attacks. While 360’s launch date has yet to be set, Radius plans to release an early version of its ordering layer solution early next year, marking another major milestone in its journey to reinvent blockchain technology.Radius also announced a partnership with Rollup-as-a-Service Saga and joined the Celestia ecosystem. The collaboration aims to further advance rollup technology and enhance the security of the blockchain ecosystem.
Radius plans to launch an alpha version of its sequencing layer in the first quarter of 2024, signaling its commitment to the further development of blockchain technology.
Disclaimer: This article is for informational purposes only. It does not provide or be intended to be used as legal, tax, investment, financial or other advice.