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 referred to as Magi.
The enterprise capital big’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 publish saying the launch.
Magi is a brand new rollup consumer developed in Rust to extend consumer variety and enhance the OP Stack ecosystem. It’s in its early levels and wishes additional growth earlier than being a possible various to current shoppers. Future plans for Magi embrace enhancing latency, sync pace and testing frameworks, in response to the agency.
A consumer refers to a software program software that enables customers to work together with a blockchain community, validating transactions and sustaining a neighborhood copy of the community. Having a number of shoppers or consumer variety is essential for a blockchain community so it has no single level of failure.
“Magi acts because the consensus consumer (typically referred to 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 in an effort to advance the chain. Magi performs the identical core performance because the reference implementation (op-node) and works alongside an execution node (similar to op-gETH) to sync to any OP Stack chain, together with Optimism and Base,” the agency wrote within the weblog publish.
A16z’s crypto investments
Andreessen Horowitz is without doubt 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 yr, 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 at present’s announcement, in response to CoinGecko knowledge.