10/19/2021 | Press release | Distributed by Public on 10/19/2021 03:02
Advanced Blockchain AG participated in the Obol Technologies seed financing round with a 6-figure investment. The company invested alongside significant investors including Ethereal Ventures, Acrylic, Coinbase and several top angel investors within this space.
Obol Technologies is an open-source and permissionless infrastructure protocol made for staking digital assets. Its mission is to serve as the primary coordination layer for trustless and configurable staking on public blockchain networks. Designed to incentivize collaboration at the network operator level, Obol will provide all network participants with a new primitive for trustless and resilient network validation.
Obol accomplished this as a Secret Shared Validator (SSV) network that enables the provisioning of trustless infrastructure on the Ethereum Network. This SSV is a joint research and development effort, commissioned by the Ethereum Foundation in conjunction with the Obol founding team.
With a focus of producing trustless validation as a permissionless good for public networks, Obol aligns with Advanced Blockchain's mission: to drive forward innovation and advancements within the blockchain industry, ultimately providing users with maximized benefits.
This investment will enable Obol to further develop their technology to provide institutions, self-stakers, and pool operators the ability to create their own staking environments. The staking environments will have superior fault tolerance, resiliency, and robustness without the need to integrate multiple providers or deploy complex infrastructure configuration.
This will be a positive addition to Advanced Blockchain's existing investment portfolio, with many visible synergies amongst its portfolio companies.
Additional information on Advanced Blockchain AG can be found at www.advancedblockchain.com