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According to official news, the REDDIO project, led by Parverding, one of the world's top cryptocurrency VCs, has officially launched its testnet! It has directly hit the hot search list!
1. Introduction to REDDIO
Reddio is a parallel Ethereum Layer 2 solution that uses parallel execution and GPU acceleration technology to enhance blockchain network throughput and computational efficiency. In addition, it uses zero-knowledge proof technology to ensure security comparable to Ethereum.
Tags: Infrastructure, Layer2, Parallel EVM
Ecosystem: Ethereum, StarkNet, StarkEx, Scroll (testnet)
Founded: 2021
2. Financing and team
January 1, 2022: Reddio completes seed round of financing, with an undisclosed amount, led by well-known investors Paradigm and Arena.
The project was founded by Neil, who graduated from Stanford Business School and the National University of Singapore. He was employee No. 003 of Twilio Asia Pacific, the US cloud service provider, general manager of PingCAP Eurasia, and a lecturer at Nanyang Technological University. He was an early evangelist of zk expansion technology and provided open source expansion solutions for Starknet and others.
The high-performance distributed database developed by the team is currently used by Bybit, OKX, and Square. Because Reddio's main direction is parallelization and hardware acceleration, GPU miners can participate in the operation of Reddio nodes in the future.
3. Project Highlights
Reddio’s official documentation shows that it provides a series of key enhancements, notably achieving higher performance compared to current EVM L2s or zkEVM L2s.
The Ethereum Virtual Machine (EVM) is a decentralized virtual environment that executes smart contracts and code on the Ethereum blockchain. However, the standard EVM processes transactions and smart contracts sequentially, which can cause congestion and increase costs when there are large transaction volumes. To address this, Reddio developed an advanced iteration called the Supplemental EVM that leverages the concepts outlined in the Block-STM paper to enhance scalability and performance.
It is worth mentioning that Reddio collaborated with the National University of Singapore to convert the Ethereum Virtual Machine (EVM) operating code into CUDA (a hardware computing platform and API model created by NVIDIA) through the CuEVM project, significantly improving performance. CUDA enables developers to use NVIDIA GPUs for general-purpose processing, providing massive parallelism and high-performance computing. This optimization significantly improves the execution efficiency of smart contracts, making Reddio a more efficient and scalable Layer 2 solution.
IV. Conclusion
In short, when Monad and Bera are betting on parallel EVM, the emergence of Reddio has brought some excitement to this track. It is certain that this will be the next big thing!
Disclaimer: All information in this article is for communication only and does not constitute any investment advice. Please abide by the relevant laws and regulations of your region. Refuse to invest at your own risk.