Modular Blockchain Astria Raises $5.5M for Shared Sequencer Network

Astria's aim is to enable anyone to deploy their own censorship-resistant rollup without having to rely on a centralized sequencer.

AccessTimeIconApr 4, 2023 at 4:35 p.m. UTC
Updated May 9, 2023 at 4:11 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Modular blockchain Astria has raised $5.5 million in seed funding to develop its shared sequencer network.

The funding round was led by Maven 11 and included contributions from various prominent crypto investment firms including 1kx, Delphi Ventures and Figment Capital.

Astria's aim is to enable anyone to deploy their own censorship-resistant rollup without having to rely on a centralized sequencer.

Sequencers coordinate transactions on layer 2 rollups – networks that offload activity from layer 1 chains such as Ethereum to decrease network congestion and reduce fees. Sequencers can technically censor or re-reorder transactions for some benefit before they pass those transactions down to a layer 1 chain. Therefore rollups seek ways of decentralizing this process.

"By using the shared sequencer, rollups are able to maintain high throughput and low-latency soft commitments, while gaining cross-chain composability," Astria said in an emailed announcement on Tuesday.

Astria is also developing its Astria EVM, powered by the shared sequencer network and which it plans to serve as the flagship Ethereum Virtual Machine (EVM) for modular blockchain Celestia's data availability layer.

"Modular" is used as a term for networks that separate the core blockchain functions – consensus, settlement, data availability and execution – into separate layers in order to prevent any being sacrificed in favor of any of the others.

Edited by Sam Kessler and Bradley Keoun.

CORRECTION (April 4, 17:10 UTC): Changes Delphi Capital to Delphi Ventures.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.