Cryptocurrency Speed Revolution: DoubleZero’s Secret Internet Highway to Supercharge Blockchains
High-frequency traders have dominated Wall Street with their ability to execute trades quickly and score big profits. They use complex scripts to process trades rapidly, often outperforming competitors by mere milliseconds. To achieve such speed, HFT traders have developed private networks of internet cables that are not available on the public internet.
DoubleZero is a crypto project aiming to replicate this private network paradigm for blockchains to boost their processing power and efficiency. By leveraging cutting-edge technologies typically used in high-frequency trading, DoubleZero seeks to create a revolutionary new standard in blockchain networking.
Austin Federa, cofounder of DoubleZero and a former executive at the Solana Foundation, emphasized that his project is not just about building another blockchain but creating a decentralized network that allows for faster communication between nodes. This innovation has garnered significant attention from investors; DoubleZero Foundation announced raising $28 million in a seed round led by prominent crypto investors Multicoin Capital and Dragonfly Capital.
The participating venture capital firms include Foundation Capital, Reciprocal Ventures, DBA, Borderless Capital, Superscrypt, Frictionless, Jump Crypto (digital assets subsidiary of HFT firm Jump Trading), and Malbec Labs. By supporting DoubleZero, these entities aim to pioneer a new era in blockchain efficiency.
In essence, blockchains like Solana or Ethereum serve as decentralized versions of cloud computing platforms such as Amazon Web Services or Google Cloud. Like their centralized counterparts, they have physical servers that process transactions and run applications. Currently, when nodes communicate with each other on Solana’s blockchain network, the signals traverse public internet infrastructure.
However, DoubleZero seeks to revolutionize this approach by building a private network of cables connecting key nodes within the blockchain ecosystem. This initiative does not involve laying down new physical cables but rather combining underutilized bandwidth from various sources, including HFT firms and private companies.
By constructing such a private network, DoubleZero can optimize communication latency between nodes, significantly enhance transaction processing speed, and promote more efficient utilization of infrastructure resources. To ensure the decentralized nature of its project, the foundation will release its own cryptocurrency reward tokens to contributors who allocate their bandwidth or infrastructure capabilities to the network.
Federa is confident that this pioneering endeavor in blockchain networking will redefine the industry’s standards and expectations for speed, efficiency, and reliability."We can use a whole different set of technologies that have basically become standard and de facto in high-frequency trading— but are not available over the public internet so they’ve never been applied to blockchain before," Federa explained.
To date, DoubleZero has attracted substantial capital from its investors. In exchange for their backing, these entities will receive allocated tokens once they launch a crypto currency later on.
The team behind DoubleZero comprises seasoned professionals, including Federa himself, along with Mateo Ward and Andrew McConnell. Ward served as the former CEO of Neutrona Networks, a portfolio company owned by Jump Trading, specialized in building private internet networks for top users like traders and banks. Meanwhile McConnell was previously a leader developer for HFT giant Jump, overseeing the development of many highly profitable automated trading strategies.
By spearheading the DoubleZero project, Federa seeks to merge expertise from various arenas and leverage established technological infrastructure not previously available over public blockchains to build more efficient digital platforms that provide numerous benefits to its members and also make progress toward faster global communication.
Cryptocurrency Speed Revolution: DoubleZero’s Secret Internet Highway to Supercharge Blockchains
High-frequency traders have dominated Wall Street with their ability to execute trades quickly and score big profits. They use complex scripts to process trades rapidly, often outperforming competitors by mere milliseconds. To achieve such speed, HFT traders have developed private networks of internet cables that are not available on the public internet.
DoubleZero is a crypto project aiming to replicate this private network paradigm for blockchains to boost their processing power and efficiency. By leveraging cutting-edge technologies typically used in high-frequency trading, DoubleZero seeks to create a revolutionary new standard in blockchain networking.
Austin Federa, cofounder of DoubleZero and a former executive at the Solana Foundation, emphasized that his project is not just about building another blockchain but creating a decentralized network that allows for faster communication between nodes. This innovation has garnered significant attention from investors; DoubleZero Foundation announced raising $28 million in a seed round led by prominent crypto investors Multicoin Capital and Dragonfly Capital.
The participating venture capital firms include Foundation Capital, Reciprocal Ventures, DBA, Borderless Capital, Superscrypt, Frictionless, Jump Crypto (digital assets subsidiary of HFT firm Jump Trading), and Malbec Labs. By supporting DoubleZero, these entities aim to pioneer a new era in blockchain efficiency.
In essence, blockchains like Solana or Ethereum serve as decentralized versions of cloud computing platforms such as Amazon Web Services or Google Cloud. Like their centralized counterparts, they have physical servers that process transactions and run applications. Currently, when nodes communicate with each other on Solana’s blockchain network, the signals traverse public internet infrastructure.
However, DoubleZero seeks to revolutionize this approach by building a private network of cables connecting key nodes within the blockchain ecosystem. This initiative does not involve laying down new physical cables but rather combining underutilized bandwidth from various sources, including HFT firms and private companies.
By constructing such a private network, DoubleZero can optimize communication latency between nodes, significantly enhance transaction processing speed, and promote more efficient utilization of infrastructure resources. To ensure the decentralized nature of its project, the foundation will release its own cryptocurrency reward tokens to contributors who allocate their bandwidth or infrastructure capabilities to the network.
Federa is confident that this pioneering endeavor in blockchain networking will redefine the industry’s standards and expectations for speed, efficiency, and reliability."We can use a whole different set of technologies that have basically become standard and de facto in high-frequency trading— but are not available over the public internet so they’ve never been applied to blockchain before," Federa explained.
To date, DoubleZero has attracted substantial capital from its investors. In exchange for their backing, these entities will receive allocated tokens once they launch a crypto currency later on.
The team behind DoubleZero comprises seasoned professionals, including Federa himself, along with Mateo Ward and Andrew McConnell. Ward served as the former CEO of Neutrona Networks, a portfolio company owned by Jump Trading, specialized in building private internet networks for top users like traders and banks. Meanwhile McConnell was previously a leader developer for HFT giant Jump, overseeing the development of many highly profitable automated trading strategies.
By spearheading the DoubleZero project, Federa seeks to merge expertise from various arenas and leverage established technological infrastructure not previously available over public blockchains to build more efficient digital platforms that provide numerous benefits to its members and also make progress toward faster global communication.