KEY POINTS
- Waterfall's fresh funding was from Bolt's Capital, Alpha Token Capital, and Enflux
- Waterfall experienced a 338% growth surge TVL within its first month
- Chainspect data shows that Waterfall's max TPS is 866x more than the Bitcoin network
Waterfall Network, touted as the most innovative Layer 1 (L1) decentralized and scalable ledger, today announced it has raised $11.6 million from Bolt's Capital, Alpha Token Capital, and Enflux, providing the ledger with funds to advance its research and development.
The fresh funding will be used to strengthen the platform's infrastructure with node simplification and further advancement. It is also a huge vote of confidence in Waterfall's potential to enhance its performance.
Recognizing Waterfall's Potential
The new funding is a testament to Waterfall's potential in the blockchain industry. It came in the heels of Waterfall Network setting a new performance record of 12,778 transactions per second (TPS) on its mainnet.
🚨 Waterfall Network Sets New TPS Record on Mainnet!🚨
— Waterfall Network (@waterfall_dag) October 1, 2024
On September 27, 2024, we hit a groundbreaking milestone by reaching 12,778 TPS on the mainnet, surpassing our previous testnet record of 11,667 TPS! 🚀
In just 3 tests, we generated over 1,000,000 transactions and measured… pic.twitter.com/pNl8SxeE5v
The achievement underscores the protocol's ability to effectively solve the blockchain trilemma of security, decentralization, and virtually unlimited scalability.
Funding interest in Waterfall cements the network's place in high-performing L1s that are making a difference in the broader blockchain space today.
"Waterfall's rapidly growing community of supporters and validators is a testament to the network's potential, and it's incredibly encouraging to see investors recognizing that vision," Sergii Grybniak, CTO of Blue Wave and Head of Research at Waterfall, said in a press release shared with International Business Times.
"The initial $2 million from ByteTrade Lab, a leader in infrastructure for the user-controlled web, was instrumental in launching our mainnet and driving early success. We're thrilled to have more support from Bolt's Capital, Alpha Token Capital and Enflux as we chart the course for Waterfall's future development," he added.
Toward a Scalable, Decentralized Future Where Waterfall is at the Frontier
Waterfall is a newbie in the blockchain space, as it started only in July 2024, but its kickoff was marked with 2,048 validators, and it saw a staggering 338% growth surge in total value locked (TVL) within its first month.
By mid-August, the network already had 6,949 active validators, making it the world's third-largest decentralized PoS network by validator count.
Dear Waterfall Community,
— Waterfall Network (@waterfall_dag) December 9, 2024
We are pleased to announce that 370 new validators joined the Waterfall Network last week, further strengthening our ecosystem!
📊 View the latest rewards here:https://t.co/WDsCaU3Cd5
📌 Explore staking opportunities:https://t.co/meKVCpM1HP… pic.twitter.com/wOsPNHG8CC
Since launching, Waterfall has enabled seamless migration of applications built on the Ethereum ecosystem, but its true strength lies in its directed acyclic graph (DAG) architecture, which allows for high scalability via parallel and simultaneous blockDAG consensus.
Its DAG architecture also enables parallel transaction processing, allowing multiple transactions to be verified and added simultaneously.
Waterfall also recently integrated with Chainspect, a blockchain analytics platform specializing in tracking the technical performance metrics of various blockchains. The integration offers blockchain users a clear comparison of Waterfall's technical performance against other leading blockchains.
Chainspect's comparison of Waterfall and Ethereum shows that while Waterfall's block time is way lower than that of the Ethereum chain, Waterfall's max TPS is 183x more than Ethereum's max TPS.
Waterfall's max TPS is also 866x more than Bitcoin, and its max TPS is 1.58x more than Solana, which is known for its high transaction speed.
Based on its current record, the Waterfall Network is well on track to become one of the world's most scalable and decentralized L1 chains. Its combined Web2 user-centric efficiency and Web3 decentralization make it a leading innovator in the Web3 space.
Furthermore, Google Cloud's Web3 Starter Program co-signs Waterfall's success, as the protocol became the first L1 decentralized and scalable ledger to successfully pass testing with a record 1,573,892 validators across a global testnet.
