DoubleZero Foundation, an organization supporting the DoubleZero protocol that aims to build a “global fiber network” for high-performance blockchains and distributed systems, has raised $28 million in a token round co-led by Multicoin Capital and Dragonfly Capital.
The project announced on Wednesday that investors in the latest round included Foundation Capital, Reciprocal Ventures, DBA, Borderless Capital, Superscrypt and Frictionless.
“The foundation plans to use the proceeds to hire key roles in marketing, developer relations, and business development and to help usher the network out of testnet beta into public mainnet in the second half of this year,” the team said.
Leveraging fiber links from independent network contributors, DoubleZero offers increased bandwidth and reduced latency for high-performance blockchains.
DoubleZero also announced today the launch of its permissioned testnet, making the DoubleZero Network available to Solana validators and RPCs. Its core contributors include Malbec Labs and Jump Crypto, and the testnet is currently live in seven cities — namely, Singapore, Tokyo, Los Angeles, New York, London, Amsterdam and Frankfurt.
“Currently, the DoubleZero foundation is focused on the launch of the permissioned testnet and onboarding Solana validators and RPCs before heading into a permissionless testnet,” Austin Federa, co-founder of DoubleZero, told The Block, adding that the project is essentially designed to become the new physical infrastructure backbone for high-performance blockchains. Federa previously served as head of strategy at the Solana Foundation.
“Due to the public Internet’s bandwidth limitations and non-deterministic routing, it is difficult to reliably deliver a Web2-like experience without first solving latency between validators,” said Kyle Samani, managing partner of Multicoin Capital, noting that DoubleZero seeks to solve this component of scaling blockchains.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
