Blockchain
After spending a day constructing hype with a sequence of cryptic tweets together with photos of orange balls, A16z Crypto simply revealed what all of the fuss was about: a brand new Layer 2 rollup consumer known as Magi.
The enterprise capital large’s consumer software program is being constructed on the OP Stack, a software program stack to create a blockchain dApp ecosystem across the Optimism Layer 2 community, in response to a weblog put up saying the launch.
Magi is a brand new rollup consumer developed in Rust to extend consumer range and enhance the OP Stack ecosystem. It’s in its early phases and desires additional improvement earlier than being a possible various to current purchasers. Future plans for Magi embody enhancing latency, sync velocity and testing frameworks, in response to the agency.
A consumer refers to a software program utility that permits customers to work together with a blockchain community, validating transactions and sustaining an area copy of the community. Having a number of purchasers or consumer range is vital for a blockchain community so it has no single level of failure.
“Magi acts because the consensus consumer (usually known as a rollup consumer within the context of the OP Stack) within the conventional execution/consensus cut up of Ethereum — it feeds new blocks to the execution consumer with a purpose to advance the chain. Magi performs the identical core performance because the reference implementation (op-node) and works alongside an execution node (corresponding to op-gETH) to sync to any OP Stack chain, together with Optimism and Base,” the agency wrote within the weblog put up.
A16z’s crypto investments
Andreessen Horowitz is likely one of the highest-profile buyers in crypto, with greater than $7 billion in funds devoted to investments within the sector. The agency has been concerned in 11 fundraisings for crypto startups to this point this 12 months, in response to The Block’s Offers Dashboard.
A16z Crypto is an investor in Optimism, the Ethereum scaling startup fashioned in early 2020. Optimism’s OP token climbed to $2.65 from about $2.55 following as we speak’s announcement, in response to CoinGecko information.
