Kartik Kalyanaraman and Ola Muse, two former employees of the cryptocurrency exchange Coinbase, have raised $5.3 million for their own startup, Scale3 Labs, focused on Web3 infrastructure.
Karthik Kalyanaraman and Ola Muse left Coinbase in August. Now they have announced the launch of their startup Scale3 Labs, which has already managed to enlist the support of the American venture capital firm Redpoint Ventures, Mysten Labs and Harvard University.
Running nodes for many blockchains is incredibly difficult right now, according to Kalyanaraman. They are a critical part of networks, verifying transactions and providing overall security. It takes operators, on average, about eight hours to update nodes, but Scale3 Labs can reduce this time to less than 20 minutes.
Scale3 Labs supports the Sui blockchain from Mysten Labs on its Autopilot platform, but plans to add support for blockchains such as Ethereum, Solana, and Aptos in the future. Now the main goal of Scale3 is to expand the staff – the company intends to hire more specialists.
Recall that last month, Coinbase denied accusations of artificially increasing the value of digital currencies and said that some of its competitors are doing this.
Source: Bits
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