ScalingX Partners with Reddio to Incubate Web3 Startups

ScalingX Partners with Reddio to Incubate Web3 Startups

SAN FRANCISCO, Dec. 20, 2022 (GLOBE NEWSWIRE) — ScalingX, a Web3 developer community and accelerator, and Reddio, a blockchain infrastructure company, today announced a strategic partnership to jointly promote the adoption of zero-knowledge rollup (zkRollup) technologies among startups.

The alliance represents an important joint force between accelerators and technology providers. With a focus on scaling technologies such as the Zero Knowledge Proof (ZKP), ScalingX incubates projects that drive the next wave of blockchain evolution by filling the gaps in developer education and connecting the dots for entrepreneurs through one-stop services and access to critical resources. The company has recently announced an incubation program called zkTech Camp to support related startups. Meanwhile, Reddio offers developers global available and easy-to-use Layer 2 zkRollup Agnostic APIs for quick integration of the empowering technology into their applications.

Under the partnership, Reddio will provide mentoring to founders and startups participating in ScalingX’s incubation programs and hold consultation sessions with them as a technical resource. The two will also collaborate on activities like workshops, hackathons, and demo days.

Ethereum, the world’s most popular blockchain network with solid user bases, has long been plagued by its scalability issue. ZkRollup emerged as a promising Layer 2 solution that scales the network without sacrificing security by bundling up transitions and processing them off-chain. The technology also enables a better user experience as it removes the hindrance of skyrocketing gas fees and heavy congestion on Layer1, making it a perfect fit for developers looking to build killer apps that will drive mass adoption.

As the basis of the partnership, ScalingX and Reddio share the vision that ZKP technologies represented by zkRollup will define the future of blockchain and serve as the foundation of scaled Layer1 blockchains.

“We are delighted to be partnering with Reddio who brings strong technical expertise and has a shared target audience of Web3 developers and startups with us,” Chichi Hong, co-founder of ScalingX said. “Together with Reddio, we will facilitate the application of the ZKP technologies and bring related innovations to a new level.”

“Reddio is excited about this partnership, to accelerate the adoption of zkRollup, which provides scalability, transparency, and security to the ecosystem. Meanwhile, by partnering with ScalingX, we can help startups boost their growth and make sure they can have a sustainable business model,” Neil Han, founder and CEO of Reddio commented.

Starting with Reddio, ScalingX has several partnerships in the pipeline to pool resources together for an ecosystem that provides help on every element critical for the success of Web3 startups.

About Reddio

Reddio is a technology company that builds infrastructure for the blockchain, to help developers adopt blockchain technologies with the world’s first easy-to-use Layer 2 zkRollup Agnostic APIs. Enabling developers embed Token or NFT (Non-fungible token) into their web, desktop and mobile applications with massive scalability and zero gas fee for off-chain.

Reddio has partnered with the leading layer 2 zkRollup provider Starkware to launch StarkEx APIs, with which you can have instant trading confirmation within second, high concurrent transactions up to 10k TPS, 0 gas fee as it’s done on layer 2 and the asset security derived from layer 1 Ethereum. Reddio is backed by top VCs such as Paradigm and Arena Holdings.

About ScalingX

ScalingX is a global developer community dedicated to the development of Web3 and blockchain technologies, with a focus on Zero-Knowledge Proof (ZKP) technology. Our goal is to advance the adoption of blockchain technology around the world through education. We support early-stage Web3 startups by helping them with talent recruitment, networking, fundraising, project incubation, PR and branding, community building, and more. We are fully committed to building a more scalable, transparent, secure, and decentralized network of tomorrow.