DoubleZero: The Innovative Crypto Project Transforming Blockchain Speed
Brief news summary
DoubleZero is a groundbreaking cryptocurrency initiative focused on enhancing blockchain transaction speeds via a specialized network of internet cables. Inspired by high-frequency trading (HFT), it aims to significantly improve transaction efficiency. Co-founded by Austin Federa, Mateo Ward, and Andrew McConnell, the project has garnered $28 million in seed funding from notable investors, including Multicoin Capital, Dragonfly Capital, Foundation Capital, and Reciprocal Ventures, who will receive token warrants in an upcoming offering. Unlike traditional blockchains such as Solana, which rely on public internet systems, DoubleZero partners with firms like Jump Crypto and Malbec Labs to utilize underused bandwidth from private networks, ensuring a faster and more secure infrastructure. This strategy aligns seamlessly with the HFT focus on speed. Moreover, DoubleZero emphasizes decentralization and plans to introduce its own cryptocurrency to encourage participation within the network, thereby establishing a resilient infrastructure capable of effectively tackling diverse challenges.**Innovative Crypto Project Set to Transform Blockchain Speed** The crypto initiative DoubleZero is poised to revolutionize blockchain processing with its unique network of internet cables aimed at boosting speed. As reported by Yahoo Finance, this project takes cues from high-frequency trading (HFT) strategies, where speed is a vital factor for achieving success. Established by Austin Federa, Mateo Ward, and Andrew McConnell, DoubleZero has successfully raised $28 million in seed funding. Prominent investors include Multicoin Capital and Dragonfly Capital, along with additional support from Foundation Capital and Reciprocal Ventures. In return for their investments, these backers have received token warrants for a planned cryptocurrency. Currently, blockchains like Solana rely on public internet infrastructure for communication.
In contrast, DoubleZero intends to explore a different approach. By collaborating with external partners like Jump Crypto and Malbec Labs, DoubleZero seeks to utilize underexploited bandwidth from a variety of private sectors, creating a faster, secure private network. This strategy mirrors the speed-oriented techniques found in the HFT arena, promising considerable enhancements in transaction processing speeds. The DoubleZero project highlights the significance of decentralization. The firm plans to launch its own cryptocurrency to motivate contributions to the network, ensuring the resulting infrastructure remains both decentralized and strong.
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DoubleZero: The Innovative Crypto Project Transforming Blockchain Speed
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