Yesterday Blockdaemon announced it raised a $28 million funding round led by Greenspring Associates, including Goldman Sachs, BlockFi, Warburg Serres, and others.
Blockdaeomon is a public blockchain infrastructure provider that manages nodes or servers across 40 different blockchain networks.
The company is best known for providing validator nodes to large token holders for proof of stake blockchains. Securing a network by staking tokens instead of energy-hungry proof of work means that bad behavior can result in the loss of some or all tokens. Sometimes a malfunctioning node can result in this kind of ‘slashing’, hence the need to ensure that nodes operate well. Token holders earn a return for taking the risk, hence the interest from a firm like Goldman Sachs.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
