• Superblock, a contributor to Over Protocol, has raised $8 million from prominent companies and VCs in South Korea.
• Over Protocol is a new layer 1 blockchain based on the “Ethanos” protocol which only considers active accounts valid.
• This enables full nodes to discard obsolete data and operate with less storage, allowing for reduced storage requirements.
Superblock Raises $8M
Superblock, a contributor to Over Protocol , has raised $8 million from prominent companies and VCs in South Korea across two funding rounds. Investors included SK, Netmarble, DSC, E&Investment, Schmidt, SpringCamp, and NaverZ. Ben (Jae-Yun) Kim, the founder of Superblock said: „We are deeply diving into the South Korea market with the best local partners and looking to meet global partners accelerating us all over the world.“
Over Protocol Layer 1 Blockchain
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 allowing for reduced storage requirements. With Over anyone will be able to run a node and become a validator on their PCs at home. Ethanos has been published at EuroSys’21.
Home Staking For Passive Income
With the ability for anyone to run a validator individuals can earn potentially passive income through a process called home staking enabling them to embrace a new lifestyle with new payment options enhanced creditworthiness digital identity services commerce opportunities etc
Benefits of Reduced Storage Requirements
The reduced storage requirements mean that applications built on top of this protocol will be able to scale more easily as well as provide better user experience by making transactions faster due to lower latency times between blocks being mined or broadcasted across different nodes in the network