Web3 infrastructure company Blocknative completes $15 million in financing
This article comes fromDecrypt, original author: Jason Nelson
Odaily Translator |
Odaily Translator |
Blockchain infrastructure company Blocknative announced on Thursday the completion of a $15 million Series A-1 round of financing, bringing its total funding to $34 million.
Blockchain Capital, Foundry Group, Rho, IOSG Ventures, Robot Ventures, Fenbushi Capital, HackVC, Industry Ventures and others participated in the investment.
It is reported that Blocknative was launched in 2018 to process transactions on the Ethereum chain. The latest funding will be used to vigorously pursue block building opportunities and grow its product team, the company said.
Matt Cutler, CEO of Blocknative, said at the 0xpo Crossroads event in San Francisco, "Blocknative builds a real-time infrastructure for Web3 and really focuses on the so-called pre-chain layer. From the time an idea is formed to its on-chain, Everything happens in transactions."
“We provide a set of features and APIs that allow builders and transactors to control the Web3 transaction lifecycle,” continued Cutler, “now that after the (Ethereum) merger, these features are actually very applicable to the new field of block building .”
Culter told Decrypt that the goal of Blocknative is to provide an infrastructure that takes the anxiety out of users sending transactions on the blockchain and creates a smoother web experience.
“We would definitely say that transactions are these mysterious and anxiety-ridden things that are at the heart of the network. For the most part, the transaction experience is terrible — everyone knows the experience of submitting, and waiting for confirmations. anxiety."
Following the ethereum merger on September 6 this year, Blocknative launched its MEV relayer the following week. MEV (Maximum Extractable Value) refers to the process by which individuals creating new ETH can further profit by manipulating their control of the network and prioritizing transactions from certain users. MEV relayers act as parallel channels, connecting miners with bots who want their transactions to be included.
It is reported that Ethereum is now the largest PoS chain. While many had hoped that the price of ETH would rise after the merger, ETH is currently trading at $1,269, down from $1,629 the day after the merger took place, according to data from CoinGecko. After the crashes of Terra/Luna, Celsius, and FTX, the crypto bear market and more and more companies failing, the news is not good.
According to MEVboost.org, Blocknative relayers and builders have processed over 18,686 blocks for the Ethereum mainnet.
In addition to relayers and block building services, Blocknative also provides other solutions, including transaction preview, Web3-Onboard, Mempool Explorer, gas estimator, and transaction distribution network.
Blocknative has also recently started accepting transaction packets from MEV seekers, enabling it to generate higher value blocks for its connected validators.
