Blockdaemon Receives $155 Million in Series B Funding

Blockdaemon, one of the leading independent Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term infrastructure platforms, recently announced that the company has secured $155 million in funding at a valuation of $1.255 billion.

The recent Series B funding round was led by SoftBank Vision Fund 2. The latest funding announcement came nearly 3 months after the blockchain firm raised $28 million in its Series A investment round. In the recent announcement, Blockdaemon highlighted its significant growth in the last 90 days.

Blockdaemon mentioned that the company has increased its managed node count from 8,000 to 18,000. The firm has seen a substantial jump in its valuation and revenue in the last 12 months.

In addition to SoftBank Vision Fund 2, Matrix Capital Management, Sapphire Ventures and Morgan Creek Digital also participated in the Series B round.

Commenting on the latest announcement, Konstantin Richter, CEO and Founder of Blockdaemon, said, “This latest large infusion of capital is another major milestone for Blockdaemon and will ensure that we continue to revitalize existing financial infrastructure around the globe. We are committed to a future of decentralized financial infrastructure and accelerating the ease of integration to Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met Read this Term traditional banking to the crypto ecosystem.”

“As regulations get further defined, a backer of the caliber of SoftBank and Masa’s experience is crucial. We are deeply gratified to have the support and confidence of the financial, tech and VC titans who made this latest round possible,” Richter added.

Over the past year, Blockdaemon launched more than 10,000 ETH 2.0 validators. In addition, the blockchain platform added multiple layers of risk mitigation with regional and data center diversification.

Funding

Through the latest funds, Blockdaemon aims to make strategic acquisitions. Furthermore, the company is planning to hire new talent in Singapore, Japan, Germany and the UK.

“The next stage of strategy will be to bridge access to protocols via APIs, expand financial reporting capabilities for institutions and deepen its infrastructure capabilities to ease integration for the next phase of the blockchain ecosystem,” Blockdaemon added.