Doublezero Foundation, a start -up building of a “new internet” to improve the blockchain performance, collected $ 28 million with a valuation of $ 400 million, according to three people familiar with the business, and is now looking for “strategic partners” to invest more at $ 600 million.
Dragonfly and Multicoin Capital lead the first financing round, two of the people said. The subsequent strategic round is not yet closed, said an insider. Venture capital companies have hunted hard for any allocation they could get, another said.
Double Zero refused to comment.
It is unusual to get such an elevated appreciation in an early round, but not unheard of for crypto companies that pitch transformative systems. From the side of Doublezero, it is the vision to collect a global network of private fiber -optic cables and then use them so that blockchains can send their data more efficiently than possible on the public internet.
The motto – “Increase bandwidth, reduce latency” or IBRL – prolified by the Solana community, even before Doublezero debuted his white paper in December. The project is seen as an activation technology for the larger plans of Solana to process a million transactions per second.
Doublezero opens his permitted test network for Solana Validators and RPCs, with plans to extend to other chains along the line, a well -known source said. The network of fiber optic cables uses a private line that is managed by Jump Crypto, Rockawayx, distributed Global, Latitude and TerraceWitch, and accepts more contributors.
At Solana’s breaking point conference in September, Jump Crypttos’s company team demonstrated his super fast Solana customer that ran on a breakneck speed. What they did not say at that time that the crowd was that the participating validators ran on the infrastructure of Doublezero
President Austin Federa of Doublezero Foundation was the former main strategy at Solana Foundation. The other co-founders, Andrew McConnell and Mateo Ward, are in charge of the core company of the project, Malbec Labs. Jump Crypto is also a core contribution carrier, who also pitches early bandwidth to the network.
Federa has a joke to Doublezero as “Crypttos’s first infrastructure project” because of the enormous dependence on hardware: fiber optic cables by land and sea. Instead of buying or building that expensive infrastructure, Doublezero will rely on independent communication companies that are willing to make money with their under -utilized.
The whole thing is reminiscent of the speed war of Wall Street, where trade agencies spend a lot of money on special fiber optic lines to shave precious milliseconds from their orders.
In an explanation blog, the Infrastructure Company Helius compared the preferred pipes of Doublezero with a private car service and the open internet for an Uber. Both will eventually bring you where you are going. But the private car will do this faster and more predictable.
“I think the Solana community said very well:” We want to surpass what is possible on the public internet, “Federa said on a recent X rooms, although he said that Doublezero is” completely compatible “with every blockchain.
He compared the system with the special fiberglass lines of high -frequency trade agencies. “We just come to the point that block chains are fast enough to use it.”
