Blockchain scaling solution StarkWare hits $8B valuation. StarkWare competitors are Boba, Hermez Network, Loopring, Nahmii, Offchain Labs, Optimism, Polygon, SKALE Labs, and zkSync.

StarkWare, a provider of zero-knowledge proof technology, has raised $100M in a Series D. The round drew participation from Greenoaks Capital Management, Tiger Global Management, and Coatue Management, among others.

HOW’S THE COMPANY PERFORMING?

• Israel-based StarkWare offers security and scaling solutions for Ethereum-based products.
• The company’s StarkEx platform handles 250K+ transactions each day.
• The company has quadrupled its valuation to $8B over the course of 6 months.
• StarkWare has increased its employee headcount from around 50 to 85 over the past year.

Source: StarkWare

WHY DOES THE MARKET MATTER?

• The global blockchain market is expected to reach a value of $67.4B by 2026, growing at a CAGR of 68.4%, according to Markets and Markets.
• Global blockchain funding increased 713% year-over-year to hit $25.2B in 2021 — deal count rose by 88% over the same period.
• The lack of transparency in current monetary systems has increased the demand for blockchain technology.
• The rising number of blockchain applications across industries has contributed to market growth.

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