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Layer 1 solution Nibiru Chain has announced the launch of its public mainnet, with 40,000 transactions per second.
Nibiru Chain, a layer 1 blockchain network that previously raised $12 million from a group of investors such as Kraken Ventures, launched its public mainnet with the goal of processing 40,000 transactions per second. According to a press release shared with crypto.news, the platform wants to grow the user base thanks to parallel optimistic execution that allows the platform to process multiple independent transactions simultaneously.
“We recognize the barriers that have kept potential users at bay, from complex onboarding to opaque decision-making and a lack of affordability, scalability and transparency.”
Unique Divine, Co-Founder and CEO of Nibiru Chain.
Over time, Nibiru plans to compete with ethereum and Solana by offering multiple on-chain products, such as non-fungible tokens (NFTs), gaming, real-world asset tokenization (RWA), and decentralized finance (defi). The blockchain also appears to be doubling down on products like perpetual futures trading and its own stablecoin, called NUSD. As part of the launch, the Nibiru team also released toolkits, which are available in TypeScript, Golang, Python, and Rust.
Since its announcement in 2022, Nibiru has raised a total of over $20 million from multiple investors including Tribe Capital, Kraken Ventures, Republic Capital, ArkStream, Original Capital, and others. The project also sold its initial allocation of $3 million in NIBI tokens through CoinList, attracting over 40,000 registrants and over 5,000 buyers.
