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- Versatus Labs raises $2.3M, valuing the company at $50M, to launch Versatus LASR, the first stateless rollup.
- Versatus offers seamless transition from Web2 to Web3, improving efficiency and security in smart contract development.
In a significant breakthrough for the blockchain technology world, Versatus Labs has announced a successful fundraising of $2.3 million, bringing the company’s value to $50 million. This financial milestone marks the beginning of a new era with the launch of Versatus LASR, the world’s first stateless rollup.
Versatus Labs, founded by Distributed Systems veteran Andrew Smith, is a Peer-to-Peer Web Services protocol that makes it easy for Web2 developers to transition to Web3. This financial achievement, with participation from key investors such as NGC Ventures and Republic Crypto, has put Versatus in the spotlight of innovation in decentralized verifiable computing.
Versatus’ innovative LASR model marks a turning point in the evolution of blockchain technology, providing a superlatively optimized development experience, improved by an order of magnitude of 100x compared to existing platforms, while significantly reducing the operational costs and inefficiencies inherent in systems like Ethereum.
Differing radically from conventional rollups, Versatus LASR is configured as a pure, decentralized execution environment that performs computation off-chain. This advanced architecture relieves developers of the economic and technical burdens associated with maintaining state on the blockchain and managing data persistence, paving the way for unprecedented scalability and efficiency in the realm of smart contracting and decentralized interaction.
With a total of $3.7 million raised to date and backing from companies such as Jump Crypto, BigBrain Holdings, and Taureon Group, Versatus has partnered with data availability services such as EigenLayer, liquid staking platforms such as Stader Labs, and Web3 ventures such as Anagram.
Versatus LASR: Stateless Verification and Solutions for the Blockchain
Sreeram, the visionary founder of EigenLayer, highlighted stateless verification in Versatus LASR as a key mechanism to enable unlimited scaling of optimistic rollups while maintaining the ability for verification by regular nodes, a critical aspect of ensuring integrity and security in the blockchain network.
On theother hand, Joseph Eagan, co-founder of Anagram, highlighted with great emphasis Andrew Smith’s insight and commitment to the Web3 arena, noting how Versatus’ innovative LASR proposition introduces a disruptive and far-reaching solution to existing challenges in the blockchain technology ecosystem. Eagan’s assessment underscores how LASR not only enriches, but also redefines the possibilities and future of decentralized applications and smart contracting.
Web3 Development with P2P Innovation
Versatus is not only a Peer-to-Peer Web Services protocol, but also a platform that enables developers to build smart contracts in their preferred language, with their preferred tools, facilitating a seamless transition from Web2 to Web3. With the release of a suite of web services, including P2P Functions, P2P Services Hosting and P2P On-Demand Computing, Versatus is positioned to remove barriers in development, making Web3 the new standard.
With the potential to activate 20 million developers worldwide, Versatus is on the verge of unleashing a game-changing explosion in the Web3 ecosystem. By nurturing fresh ideas, fostering new applications and facilitating unprecedented connectivity within the crypto ecosystem, Versatus is laying the groundwork for mass adoption of this revolutionary technology. Versatus is, in essence, Web3 Unleashed.
This launch is not only an achievement for Versatus Labs, but a milestone for the global technology community. With its cutting-edge innovation, Versatus is paving the way to a future where Web3 is not just a possibility, but the norm. At this dawn of a new digital age, Versatus stands as the undisputed leader, taking blockchain technology and Web3 development expertise to unprecedented heights.
