Solana Raises $1.5M for SolRazr Ecosytem to Build Apps That Scale
Solana-based venture platform SolRazr has raised $1.5 million to build applications that scale. Here's what investors can expect from Solana.
Sep. 13 2021, Published 11:50 a.m. ET
Some would say that it has been a "Solana Summer." Solana continues to make a splash in the crypto sphere with new investors. In keeping with the theme, Solana just closed out a $1.5 million funding round to grow its developer ecosystem, which will build apps that can scale.
With the rise of NFTs and increasing interest from institutional investors, Solana is steadily following the path to be the DeFi (decentralized finance) and Web 3.0 of the future. In a funding round led by several notable funds and angel investors, it appears that many people are putting their money into Solana's success.
What is the SolRazr platform?
Designed in keeping open-source accessibility and building in mind, the SolRazr platform is the premier developer and investing platform. This protocol will be the first-ever developer platform on Solana and will offer three developer ecosystems—Launchpad, Accelerator, and Developer Tools. In this way, SolRazr is a platform where "...everyone gets an opportunity to invest in a project that can help shape their lives."
Not only open for anyone to invest in, but anyone can also build applications on the platform. As a blockchain, Solana touts its overall speed, cheap transactions fees, and allegedly a secure bot-proof system "...providing truly fair and decentralized allocations for the community," which enables much faster building and development.
SolRazr has unique features for investors
For those holding the native token to SolRazr, SOLR, Solana will allow investors to leverage NFTs as part of its unique allocation. The number of tokens held will determine the percentage of total coins allocated. Solana stands out compared to other blockchains where no two transactions can be processed in parallel. Since Solana boasts of being able to handle 50,000 transactions per second (TPS) because of its coordinated optimizations, SolRazr appears efficient.
Given that most blockchains operate as a single-threaded computer, Solana is the only blockchain that operates as a multi-threaded blockchain. Solana can process transactions that happen in parallel, which makes it that much more scalable. Scalability lends itself for more seamless development and that's Solana's aim.
Solana's SolRazr wants to get ahead of the game
SolRazr's co-founder, Vijay Kalangi, expressed just how early this investment opportunity is despite the recent surge of interest from institutions and investors towards blockchain and cryptocurrencies. Kalangi said, “Blockchains and cryptocurrencies are gaining mainstream adoption with growing interest from institutional investors, however, we’re still very early and not even at 1% of global tech adoption in digital assets and projects."
We're starting to see more institutions and investors begin to consider their positions in blockchain and Web 3.0. With this recent announcement and support, SolRazr claims that it's just "scratching the surface" in all that it can offer.
With SolRazr, many developers and investors can look towards the platform as a place to build. It still isn't clear whether the platform is set to launch, but SolRazr does want to get building fast. Only time will tell which applications continue to pave the way for DeFi of the future."
