Israel-based StarkWare appear on Tuesday via Twitter that it had raised $fifty million in a Series C funding round, and that the business firm's valuation is now at $2 billion. Sequoia Majuscule was the lead investor, amid other contributors. Seven months ago, StarkWare raised $75 million in a Series B funding led by Paradigm.

This news comes alee of the launch of StarkNet Alpha two, an upgrade to its Zippo-Cognition Rollup technology, or zk-Rollup, on Ethereum mainnet, which is currently scheduled for deployment by the finish of November. The visitor said that StarkNet Blastoff plans to support permissioned smart contract deployment, opening upward the scaling technology to whoever wants to build on it.

StarkWare is among the few layer-two scaling protocols for Ethereum that have recently surged in adoption despite the climb in gas prices. Its StarkEx L2 scalability engine has allowed partners, such as trading platform dYdX, to submit on-concatenation trades in zk-Rollups. This minimizes trading fees by reducing the amount of gas. The dYdX exchange recently released a governance token, DYDX, and its airdrop surpassed $100,000 for the most active users.

There are two main types of rollup engineering: zk and Optimistic Rollups. While Optimistic Rollups assume transactions are valid by default and simply run the ciphering, ZK-Rollups generate zilch-knowledge proofs for validating transactions and submit those proofs to the Ethereum mainnet continuously. With a zk-Rollup, validating a cake and transferring funds is quicker and cheaper because less data is included.

Starkware'south L2 competitor Polygon simultaneously launched its zk-STARK powered Miden Virtual Machine for the development of decentralized applications, also known every bit DApps.