MIT-Incubated Optimum Raises $11M Seed Round to Build Web3's Missing Memory Layer
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Funding and Development: Optimum, a decentralized memory layer for blockchains, raised $11 million in a seed round led by 1kx, with participation from various notable investors, aiming to enhance data storage and access efficiency in blockchain systems.
Innovative Technology: The project utilizes Random Linear Network Coding (RLNC), developed by MIT professor Muriel Médard, to address systemic inefficiencies in data propagation and storage within blockchains, and is currently live on a private testnet for testing by various blockchain participants.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
