Seoul, South Korea, July 21, 2023, Chainwire
Superblock, contributor by agreement, has raised USD 8 million from well-known Korean companies and venture capital firms through two rounds of financing. Investors include SK, Netmarble, DSC, E&Investment, Schmidt, SpringCamp and NaverZ.
Ben (Jae-Yun) Kim, founder of Superblock, said, “We are diving deep into the Korean market with the best local partners and looking to meet with global partners to accelerate our growth around the world.”
As layer 1 blockchains become faster and more mature over time, bootstrapping and maintaining nodes becomes increasingly expensive. Therefore, it becomes challenging to run blockchain applications without using expensive equipment.
Over Protocol is a new layer 1 blockchain based on a protocol called “Ethanos” that only considers active accounts as valid, enabling full nodes to discard outdated data and operate with less storage, reducing storage requirements. With Over, anyone can run a node on their home PC and become a validator. Ethanos was presented at EuroSys’21.
Ben added: “Anyone can run a validator, and individuals can earn potential passive income through a process called home mortgages, enabling them to embrace new lifestyles, including new payment options, enhanced credit, and innovative financial opportunities.”
Superblock builds products, tools and decentralized applications to prosper Over Protocol. Over Protocol is a truly decentralized layer-1 blockchain that provides lightweight full nodes.