TechFlow News, October 11 — According to The Block, crypto venture capital firm Paradigm has announced a $20 million investment into its spin-off company, Ithaca. Ithaca is developing Odyssey, a new Layer 2 blockchain aimed at accelerating the advancement of blockchain technology.
Georgios Konstantopoulos, CTO and general partner at Paradigm, will serve as CEO of Ithaca while retaining his role at Paradigm. Matt Huang, co-founder of Paradigm, will serve as chairman of Ithaca.
The Odyssey Layer 2 is built on Reth and OP Stack and is already live on testnet. Konstantopoulos stated that Ithaca is building a full technology stack designed to meet the needs of developers and users, enabling faster deployment and lower barriers to entry.
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