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SirWin
SirWin
SirWin

Superblock raises $8 million for ‘Over Protocol,’ a layer 1 blockchain

superblock-raises-8-million-for-over-protocol-a-layer-1-blockchain
Edited by
Press Releases
Superblock raises $8 million for ‘Over Protocol,’ a layer 1 blockchain

Seoul, South Korea, July 21, 2023, Chainwire

Superblock, a contributor to Over Protocol, has raised $8 million from companies and venture capitals (VCs) in South Korea across two funding rounds.

Investors included SK, Netmarble, DSC, E&Investment, Schmidt, SpringCamp, and NaverZ.

Over Protocol

Ben (Jae-Yun) Kim, the founder of Superblock, said:

 “We are deeply diving into the South Korean 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 reducing storage requirements. 

With Over, anyone can run a node and become a validator on their PCs at home. Ethanos has been published at EuroSys’21.

Kim added:

“With the ability for anyone to run a validator, individuals can earn OVER through a process called home staking, enabling them to embrace a new lifestyle with new payment options, enhanced credit, and innovative finance opportunities.”

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

[email protected]

+821043302540

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