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Superblock Secures $8 Million for “Over Protocol,” a New Layer 1 Blockchain Emphasizing Lightweight Full Nodes
[Press Release – Seoul, South Korea, July 21st, 2023]
Superblock, a participant in Over Protocol, has secured $8 million from notable firms and venture capitalists in South Korea through two funding rounds. The investors included SK, Netmarble, DSC, E&Investment, Schmidt, SpringCamp, and NaverZ.
Ben (Jae-Yun) Kim, the founder of Superblock, stated: “We are thoroughly engaging with the South Korean market alongside the best local partners and aim to connect with global partners to accelerate our growth worldwide.”
As layer 1 blockchains have evolved to become faster and more established, the expenses associated with launching and maintaining nodes have risen significantly. Consequently, operating blockchain applications has become increasingly difficult without the investment in expensive equipment.
Over Protocol is an innovative layer 1 blockchain built on a protocol called “Ethanos,” which recognizes only active accounts as valid. This allows full nodes to eliminate outdated data and function with reduced storage needs, making it easier for anyone to run a node and act as a validator from their home PCs. Ethanos was presented at EuroSys’21.
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“With the capability for anyone to operate a validator, individuals can potentially earn passive income through a method known as home staking, allowing them to adopt a new lifestyle with diverse payment options, improved credit, and novel financial opportunities,” Ben added.
About Superblock
Superblock develops products, tools, and decentralized applications to enhance the Over Protocol. Over Protocol is a genuinely decentralized layer 1 blockchain that offers lightweight full nodes.
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