Ethereum Scaling Event Unveiled

On March 28, Tyco, a provider of scalability solutions on Ethereum, announced a private networking event during Eid Seoul. This event will be an opportunity for Tyco to unveil updates on community growth, the mainnet roadmap, and other important issues. Held as a parallel event to Eid Seoul, this gathering will include venture capital investors, developers, and Web3 influencers. Co-organized by Presto Labs, this event reveals the Ethereum scaling event unveiled.

First, Tyco also announced that before the mainnet launch scheduled for the second quarter of 2024, it secured an additional $15 million in Series A funding.

So far, the company has formed partnerships with organizations like Hashed, Lightspeed Faction, Generative Ventures, Token Bay Capital, WinterMute, Presto, and OKX Ventures, totaling $37 million in investment funding. Tyco plans to use this event to accelerate the mainnet launch and strengthen the community in Korea during Eid Seoul. The goal is to build a global community, with the mainnet launch scheduled for the second quarter of 2024.

Since 2022

Since 2022, Tyco has operated six testnets, which have attracted participation from 1.1 million wallets, over 30,000 proposers, and 14,000 validators.

Even before the mainnet launch, about 80 DApps are already in operation. A good idea that contributes to the Ethereum scaling event unveiled.

In addition to the mainnet launch, Tyco is expanding its ecosystem through a $30 million grant program.

This fund will be used to support the Protocol Guild and the Ethereum Foundation ZK Grand. Furthermore, Tyco emphasized that it is the only layer 2 project that has managed to secure ecosystem funds during the testing phase and will continue working to improve the Ethereum ecosystem.

Finally, the ‘Presto x Tyco 2024’ networking event will take place on Thursday, March 28, at 6:00 PM. Block Media will be the official media partner for the event. Event details can be checked on the registration page.

Thus, on March 28, Tyco, a leading provider of scalability solutions on Ethereum, announced the hosting of an exclusive networking event during Eid Seoul.

The company used the occasion to announce significant additional investment ahead of its mainnet launch scheduled for the second quarter of 2024.

The event, held as part of Eid Seoul, provided a platform for Tyco to share the latest developments with its community and discuss the roadmap for the future.

Mainnet Launch

Since its inception, Tyco has positioned itself as a key player in the development of scalability solutions for Ethereum.

The company has already launched six testnets since 2022, which have attracted substantial participation from the global blockchain community.

Moreover, over 1.1 million wallets, 30,000 proposers, and 14,000 validators have participated in these testnets so far. This success indicates the robustness and potential of Tyco’s solutions.

Moreover, to accelerate development and ensure a successful mainnet launch, Tyco recently announced that it has secured an additional $15 million in Series A funding.

This funding will be essential for strengthening Tyco’s infrastructure and laying the groundwork for a launch that promises to be a milestone in the Ethereum ecosystem.

Community Expansion and Strengthening

One of the main objectives of the networking event during Eid Seoul was to strengthen the Tyco community, especially in Korea.

During Eid Seoul, Tyco plans to intensify its efforts to build a strong global community. A good idea that contributes to the Ethereum scaling event unveiled.

With the mainnet launch on the horizon, the company recognizes the importance of a strong and committed community base.

Additionally, Tyco has distinguished itself through its inclusive approach, inviting venture capital investors, developers, and Web3 influencers to participate in the event.

This diversity of participants ensures that different perspectives are considered in shaping Tyco’s future.

Strategic partnerships with entities like Presto Labs have been crucial to the continued growth of the Tyco community.

Partnerships and Funding

Tyco’s success in attracting substantial investment totaling $37 million to date cannot be underestimated.

The partnerships established with investment firms such as Hashed, Lightspeed Faction, Generative Ventures, and OKX Ventures have played a crucial role in sustaining Tyco’s growth and development.

Tyco has allocated these funds to strengthen its infrastructure and ensure readiness for the mainnet launch.

Moreover, Tyco highlights that it has directed a significant portion of the funding not only toward mainnet development but also to support community initiatives and grant programs.

The company unveiled a $30 million grant program to back the Protocol Guild and the Ethereum Foundation ZK Grand.

This commitment reflects Tyco’s vision of actively contributing to the Ethereum ecosystem and ensuring that its layer 2 project is not only viable but also sustainable in the long term.

The Mainnet Launch and Tyco’s Future

The launch of Tyco’s mainnet, scheduled for the second quarter of 2024, marks a crucial moment in the company’s trajectory.

Tyco, already witnessing substantial success with its testnets, is now concentrating on not just meeting but exceeding expectations for the mainnet, aiming to address and overcome the inherent challenges of Ethereum’s scalability.

To guarantee a successful mainnet launch, Tyco plans to actively collaborate with its global community, meticulously planning and executing every aspect of the mainnet to ensure a smooth and effective rollout.

The company remains committed to launching the mainnet and ambitiously expanding its ecosystem.

It actively forges strategic partnerships and initiates grant programs to stimulate innovation and encourage continuous development.

Conclusion

The networking event organized by Tyco during Eid Seoul marks a pivotal moment in the company’s journey toward launching its mainnet. This event is not just a celebration but a crucial milestone that highlights Tyco’s progress and vision for the future.

Having secured substantial investment and established strategic partnerships, Tyco is well-positioned to become a leading solution for scalability on Ethereum. The company’s growing community further reinforces its potential to make a significant impact in the blockchain space.

Tyco’s unwavering commitment to building a robust and sustainable ecosystem is evident in its wide range of initiatives. These efforts include developing cutting-edge technologies and actively supporting community programs, all aimed at fostering innovation and growth.

As the mainnet launch approaches, Tyco continues to drive the evolution of the Ethereum ecosystem. By improving scalability and strengthening the global blockchain community, Tyco is setting the stage for a transformative future in decentralized technologies.