Ithaca 👀

Paradigm invests $20 million in Ithaca, a spinoff building a Layer 2 blockchain 'from the future'

Prolific crypto venture capital firm Paradigm announced on Friday it has invested $20 million in a spinoff company that's building a new Layer 2 blockchain, which it hopes will accelerate blockchain development.

Paradigm Chief Technology Officer and General Partner Georgios Konstantopoulos will serve as Ithaca's CEO, according to Paradigm. Odyssey is the name of the Layer 2 that Ithaca will be building as part of a larger technology stack, the VC said.

The Layer 2, which is built with Reth and the OP Stack, is now live on testnet

https://www.theblock.co/post/320714/paradigm-invests-20-million-in-ithaca-a-spinoff-building-layer-2-blockchain-from-the-future?modal=newsletter