Kraken-backed blockchain Nibiru Chain launches public mainnet

Layer-1 solution Nibiru Chain has announced the launch of its public mainnet, boasting 40,000 transactions per second.

Nibiru Chain, a layer-1 blockchain network that previously raised $12 million from a pool of investors like Kraken Ventures, has launched its public mainnet aiming at processing 40,000 transactions per second. According to a press release shared with crypto.news, the platform wants to grow the user base thanks to parallel optimistic execution which allows the platform to process multiple independent transactions simultaneously.

“We recognize the barriers that have kept potential users at bay — from complex onboarding to opaque decision-making and a lack of affordability, scalability, and transparency.”

Unique Divine, co-founder and CEO at Nibiru Chain.

Eventually, Nibiru plans to compete with Ethereum and Solana, by offering multiple on-chain products like non-fungible tokens (NFTs), gaming, real-world asset (RWA) tokenization, and decentralized finance (defi). The blockchain also appears to be doubling down on products like perpetual futures trading and its own stablecoin, called NUSD. As part of the launch, the Nibiru team also rolled out toolkits, which are available in TypeScript, Golang, Python, and Rust.

Since its announcement in 2022, Nibiru raised a total of over $20 million from multiple investors like Tribe Capital, Kraken Ventures, Republic Capital, ArkStream, Original Capital, and others. The project also sold out its initial allocation of $3 million in NIBI tokens via CoinList, attracting more than 40,000 registrants and over 5,000 purchasers.