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- Odyssey Testnet is built for high performance and frictionless onboarding, removing the need for complex user interactions.
- Ithaca integrates future-focused technologies to enhance Ethereum’s scalability and smart contract capabilities.
Under the direction of CTO of Paradigm and CEO of Ithaca, Georgios Konstantopoulos, the Ithaca project formally began with a strong $20 million funding basis. As Ithaca concentrates on delivering modern performance, reliability, and scalability through its flagship testnet, Odyssey, this project signals a turning point in Layer 2 (L2) blockchain development.
Unlike conventional blockchain solutions, Odyssey seeks to greatly lower user friction, therefore facilitating a better experience free of bespoke RPCs, ETH bridging, or browser plugins.
Crypto needs to move faster.
We started @Ithacaxyz to accelerate the frontier, & have raised $20M from @paradigm.
We’ve been collaborating with the developer community on some of crypto's hardest problems. Small teams = big impact. The future of crypto will be built together. pic.twitter.com/tdZI543oVh
— Georgios Konstantopoulos (@gakonst) October 11, 2024
Odyssey: Paving the Way for Scalable and Innovative Layer-2 Networks
Built from Reth, the OP Stack, and Conduit, Odyssey emphasizes performance and future-proof technologies heavily. The Reth SDK, which is meant to fulfill the promise of great scalability and stability, is one of its best aspects. The testnet also includes EOF, EIP-7702, EIP-2537, and RIP-7212—some important Ethereum Improvement Proposals (EIPs).
These improvements help to build an L2 network that not only improves the performance of current apps but also creates opportunities for more potent smart contracts, therefore stimulating development inside the Ethereum ecosystem.
Furthermore, positioned as a “layer-2 from the future,” Odyssey presents elements not found on previous teams. This strategy not only in terms of more transactions per second but also by accelerating innovation cycles, thereby complementing Paradigm’s more overall aim of expediting crypto development.
By removing the usual blockchain access obstacles, the seamless onboarding experience will help developers and end users to embrace and interact with Odyssey.
Georgios Konstantopoulos underlined that this project marks the direction of Layer 2 blockchain solutions, especially as it fits Paradigm’s long-term plan to lower the complexity customers sometimes experience.
As Ithaca keeps improving Odyssey, the project will be positioned as a pioneer in L2 technology, challenging other significant participants in the sector.
