Cryptocurrency

A16z’s mystery ‘orange ball’ revealed — new L2 rollup client ‘Magi’

Venture capital firm A16z has revealed the secret behind a tweet featuring an orange ball. This is the launch of a new layer 2 rollup client called Magi.

Magi, a new rollup client developed in Rust, is built on the OP stack, a software stack specifically designed for creating blockchain dApp ecosystems around Optimism Layer 2 networks.

According to the official announcement on April 19th announcementwhose goal is to enhance diversity and improve the OP stack ecosystem.

A16z New L2 Rollup Improves Latency and Speed

The newly launched Layer 2 rollup client is still in development and the venture capital firm plans to make it a viable alternative to the existing client. A16z aims to improve client latency, sync speed, and test frameworks for better performance.

In the blockchain world, clients act as gateways for users to access and interact with the network. Validate transactions and keep a local copy of the blockchain. Client diversity is essential to ensuring network resilience and security without relying on single points of failure.

The blog has

“Magi acts as a consensus client (often called a rollup client in the context of the OP stack) in Ethereum’s traditional execution/consensus split. It feeds the execution client with new blocks to advance the chain. increase.”

As reported by crypto slate On April 18, cryptocurrency engineer Noah Citron posted a tweet featuring an orange dot with the words “coming soon.” This sparked speculation among Twitter users who compared it to Coinbase’s blue dot announcement before revealing an optimism-based Layer 2 solution.Eddy Lazzarin, his CTO at A16z Crypto, said the company responded to rumors by denying it was working on a Layer 2 blockchain.

Andreessen Horowitz is one of the most prominent investors with over $7 billion in funds dedicated to investing in the cryptocurrency sector. Andreessen Horowitz’s subsidiary A16z Crypto invested in Ethereum scaling-focused startup Optimism, founded in early 2020.

A16z’s mysterious ‘orange ball’ reveal post — new L2 rollup client ‘Magi’ first appeared on CryptoSlate.

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