High frequency merchants are Wall Street Whiz children. They code scripts to execute rapid transactions to eliminate small profits which, multiplied by one or ten thousand times more, lead to serious money. Or they are capable of acting milliseconds faster than competitors to mark large bets on market oscillations. The speed is essential, which is why HFT Traders has created their own private internet cable networks – now a crypto project called DoubleZero wants to do the same to accelerate blockchains.
“We can use a completely different set of technologies that have been essentially standard and de facto in the world of high frequency trade … but which are not available on public internet, so that they have never been applied to blockchain before,” said Austin Federa, co -founder of Doublezero and an old frame of Solana Foundation, said Austin Federa, co -founder of Doublezero and Solana Foundation, said Austin Federa, Co -founder of Doublezero and a former Solana Foundation executive, said Austin Federa, co -founder of Doublezero and a former Solana Foundation executive, said Austin Federa, Co -founder of Doublezero and a former Solana Foundation executive, said Austin Federa, From Solana Foundation, to Austin Fortune.
Federa’s project, which has the same obsession with speed as the companies of the famous book HFT by Michael Lewis Flash boyshas already attracted capital. DoubleZero Foundation, one of the entities behind the project, announced in early March that it had raised $ 28 million in a seed lap led by Crypto Multicoin Capital and Dragonfly Capital Investors. Other venture capital companies that contributed were the capital of the foundation, reciprocal companies, DBA, capital without borders, superscrypt and friction. In exchange for their money, investors have received mandates from tokens or promised an cryptocurrency allowance still in Lachue, Federa said.
Pear Solana or Ethereum are like Amazon or Google Cloud’s web services, but decentralized.
And like any cloud computing network, blockchains have physical servers that treat user transactions and run the programmers’ applications. Currently, when the servers that feed the Solana blockchain, for example, must communicate with each other, these signals take place on public internet infrastructure, said Federa. Doublezero aims to create a private cable network to speed up the treatment power of a blockchain.
Jump Crypto, the subsidiary of digital assets of the company HFT Jump Trading and Malbec Labs are engineering entities behind Doublezero. They will not link physical cables to build the network, said Federa. Not yet, anyway. On the contrary, the company is breaking the underused bandwidth of HFT companies, private companies and even individuals to build a faster physical network of cables than what is currently available for blockchains.
And to make sure that, like a blockchain, this physical network is decentralized, the Federa foundation plans to launch its own cryptocurrency to reward those who contribute to the bandwidth to the project.
The other Federa co -founders are Mateo Ward and Andrew McConnell. Ward is the former CEO of Neutrona Networks, a leap trading portfolio company specializing in the creation of private internet networks. And McConnell was a former high -level engineer in Jump.
This story was initially presented on Fortune.com
