Modular Blockchain Astria Raises $5.5M for Shared Sequencer Network

Modular blockchain Astria has raised $5.5 million in seed funding to develop its shared sequencer network. The funding round was initiated by Maven 11 and included contributions from various prominent crypto investment firms including 1 kx, Delphi Ventures and Figment Capital. Astria's aim is to enable anyone to deploy their own censorship-resistant rollup without having to rely on a centralized sequencer. Sequencers coordinate transactions on layer 2 rollups-networks that offload activity from layer 1 chains such as Ethereum to decrease network congestion and reduce fees.

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