Superblock Raises $8 Million to Promote Validator Platform Over Protocol
Superblock, the developer of Over Protocol, has secured $8 million in funding from well-known South Korean corporations and venture capital firms. Several companies such as SK, Netmarble, DSC, E&Investment, Schmidt, SpringCamp, and NaverZ contributed their funds. The latest funding strongly points to the great potential that investors see in Superblock’s innovative technology. Furthermore, it solidifies the company’s position as a pioneer in the blockchain industry.
Over Protocol and the case for Lightweight Full Nodes
This is the second major funds raise by Superblock in 2023. The company successfully closed a 9 billion South Korean won (an equivalent of $7.2 million) round in February, during its Series A funding round. The company’s ability to raise these substantial amounts of funding not only shows that investors have faith in Superblock’s vision, and also creates the momentum to push Over Protocol’s acceptance and growth to new heights.
The time and money required to launch and operate a node has grown toe to toe with the growing adoption and speed of layer 1 blockchains. Because of this, it is difficult to run blockchain applications without investing in expensive infrastructure.
Reduced storage needs are made possible by the introduction of Over Protocol, a new layer 1 blockchain based on the “Ethanos” protocol. This approach only considers active accounts valid and so allows full nodes to reject obsolete data and function with less storage.
Over provides lightweight full nodes, a revolutionary innovation that paves the way for fast, smooth interactions within the blockchain while drastically cutting down on the resource demands of conventional blockchain nodes. By shedding off the baggage of unnecessary data, the Over Protocol enables anyone to become a validator by operating a node on their personal computer. Ethanos was presented at EuroSys’21 and published.
On the other hand, Superblock develops Over Protocol-related products, tools, and distributed applications. Anyone can run a validator and start earning passive revenue through a process called home staking, opening up access to alternative payment methods, better credit, and more creative financing alternatives.