Ethereum Layer 2 Morph raises $20 million from Dragonfly, Pantera and others

Morph, an Ethereum Layer 2 network developer, has raised $20 million in seed and angel funding rounds.

With fresh funding, Morph said it plans to expand its team and marketing efforts and offer developer incentives.Founded last year, Singapore-based Morph is developing a Layer 2 network using a combination of optimistic and zero-knowledge rollup technologies. It claims to be building the first Ethereum Layer 2 with a decentralized sequencer — a component in Layer 2 networks that organizes and batches multiple off-chain transactions before submitting them to the Ethereum blockchain.

In a statement published in the blog post, Paul Veradittakit, managing partner at Pantera Capital, said, "We believe Morph's technology is exactly what developers in the consumer vertical need for mainstream adoption."

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