Raiku Raises $13.5M to Tackle Solana Network Congestion and Rising User Costs

Raiku’s funding aims to address Solana blockchain issues including congestion, miner extractable value, and increased trading and gaming costs, according to CEO and founder @degenroot.

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Summary

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Terms & Concepts
  • Solana: A high-performance blockchain platform designed for decentralized applications and cryptocurrencies, known for its fast transaction speeds and low fees.
  • MEV (Miner Extractable Value): The profit miners or validators can make by manipulating the order of transactions in a block.
  • Blockchain Congestion: A network slowdown that occurs when transaction demand exceeds processing capacity, resulting in delays and higher fees.