DoubleZero Foundation, a startup focused on improving blockchain performance, has raised $28 million at a valuation of $400 million. The company is looking for strategic partners to invest more at a $600 million valuation. Dragonfly and Multicoin Capital led the initial funding round, and a subsequent strategic round is still ongoing. DoubleZero aims to create a global network of private fiber optic cables to enhance blockchain data transmission. The company is opening its permissioned testnet to Solana validators and plans to expand to other chains in the future. DoubleZero's President is the former head of strategy at Solana Foundation, and the company's co-founders are in charge of the project's core contributor company, Malbec Labs. The startup is relying on independent communications businesses to provide the necessary infrastructure of fiber optic cables. This approach is likened to the speed war in Wall Street, where trading firms spent on specialty fiber optic lines to reduce order execution time. DoubleZero aims to achieve faster and more predictable blockchain transactions, similar to high-frequency trading firms using dedicated fiber lines.



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