Who Jinglang Wang, Kevin Ho, Joshua Stein and 8 team members on LinkedIn

What: Public benefit corporation dedicated to scaling Ethereum, formerly known the non-profit Plasma Group. Optimistic rollup is a L2 solution that scales transaction throughput and computation on Ethereum. Backbone is the Optimistic Virtual Machine (OVM), fully compatible with EVM. Construction borrows heavily from both plasma and zkRollup designs, and builds on shadow chains. Construction resembles plasma but trades off some scalability to enable running fully general (eg. Solidity) smart contracts in layer 2, secured by layer 1.

Where: Greater New York Area, East Coast, Northeastern US

When: June 2019 introduced optimistic rollup, Sept 2020 testnet, April 2021 hackathon testnet, July 2021 public mainnet

How: $28.5M in funding ($25M from a16z crypto Feb 2021). Eth.hole TVL = $96.77M

Strengths: Working tech and just raised a treasure chest

Weaknesses: Public goods are not always good

Traction: Synthetix

Future Plans: Launch public mainnet July 2021

Further Reading:

Deep dive into tech: