DJ Superblock Raises USD8M for "Over Protocol," a New Layer 1 Blockchain Focusing on Lightweight Full Nodes
Chainwire Superblock Raises USD8M for "Over Protocol," a New Layer 1 Blockchain Focusing on Lightweight Full Nodes 21-Jul-2023 / 15:00 GMT/BST The issuer is solely responsible for the content of this announcement. =---------------------------------------------------------------------------------------------------------------------- Seoul, South Korea, 07/21/2023, Chainwire Superblock, a contributor to Over Protocol, has raised USD8 million from prominent companies and VCs in South Korea across two funding rounds. Investors included SK, Netmarble, DSC, E&Investment, Schmidt, SpringCamp, and NaverZ. Ben (Jae-Yun) Kim, the founder of Superblock, said: "We are deeply diving into the South Korea market with the best local partners and looking to meet global partners accelerating us all over the world." As layer 1 blockchains have become faster and more established over time, the costs of bootstrapping and maintaining nodes have become increasingly expensive. As a consequence, blockchain applications have become challenging to operate without the use of costly equipment. Over Protocol is a new layer 1 blockchain based on a protocol named "Ethanos" that only considers active accounts valid, enabling full nodes to discard obsolete data and operate with less storage, thus allowing for reduced storage requirements. With Over, anyone will be able to run a node and become a validator on their PCs at home. Ethanos has been published at EuroSys'21. "With the ability for anyone to run a validator, individuals can earn potentially passive income through a process called home staking, enabling them to embrace a new lifestyle with new payment options, enhanced credit, and innovative finance opportunities," Ben added. About Superblock Superblock builds products, tools, and decentralized applications to flourish the Over Protocol. Over Protocol is a truly decentralized layer 1 blockchain providing lightweight full nodes. For more information: Twitter | Discord | Medium Contact Marketer David Kim Superblock david@superblock.xyz +821043302540 =---------------------------------------------------------------------------------------------------------------------- Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. =----------------------------------------------------------------------------------------------------------------------
1685823 21-Jul-2023
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(END) Dow Jones Newswires
July 21, 2023 10:00 ET (14:00 GMT)
