In two investment rounds, Superblock, a donor to Over Protocol, secured $8 million from South Korean businesses and venture capitalists (VCs).

SK, Netmarble, DSC, E&Investment, Schmidt, SpringCamp, and NaverZ were among the investors.

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

We are aggressively growing globally by entering the South Korean market with the best local partners and seeking out worldwide partners.

The expenses of bootstrapping and supporting nodes have increased over time as layer-1 blockchains have become quicker and more confirmed. As a result, operating blockchain applications without the use of expensive technology has become difficult.

In order to allow full nodes to reject ancient data and run with less capacity, Over Protocol is a new layer-1 blockchain that is based on the “Ethanos” protocol. This protocol only recognizes active accounts as genuine, which lowers the amount of storage needed.

Anyone can use Over to run a node and become a validator on their personal computers. At EuroSys’21, Ethanos was published.

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Kim added:

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

About Superblock 

To help the Over Protocol, Superblock creates solutions, tools, and decentralized apps. Over Protocol, which provides weightless complete nodes, is a truly decentralized layer-1 blockchain.



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