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February 2, 2023 – Boston, Massachusetts
Helium co-founder and early founding team member launched a white label blockchain node-as-a-service startup to reduce operating costs by up to 80 percent for companies running nodes for staking and API as a service. BlockJoy is building a Web 3.0 version of AWS on a decentralized infrastructure while still providing a cloud-like experience. The company’s patented technology offers customers a direct point-and-click UI (user interface) to run blockchain on any infrastructure.
BlockJoy, a company that provides white label node-as-a-service blockchain to node hosting companies, today announced the successful closing of nearly $11 million in combined seed and series A funding from Gradient Ventures, Draper Dragon, Dragon Roark, Active Capital, Borderless HNT and Renegade Ventures, among others.
Funding will be used to support the launch of BlockVisor, the company’s patented node management software, which is now open for beta registration.
BlockJoy enables customers to deploy and run decentralized blockchain nodes on any infrastructure while maintaining a cloud-like experience at up to 80 percent cost reduction over traditional cloud providers.
Created to combat the lack of decentralized infrastructure suitable for blockchain, BlockJoy provides a node management solution that is two to three times cheaper than traditional cloud providers.
Enterprises can deploy and manage blockchains, nodes, validators and ETL (extract, convert, load) at the click of a button, anywhere in the world.
BlockJoy started as a betting service side project for friends and family of CEO Chris Bruce and CTO Sean Carey. However, the venture quickly took off once the founders started leveraging their platform to run nodes for the business.
Prior to founding BlockJoy, Bruce was on the founding team of four venture-backed companies with two exits, including Lumeo, Diversion, Sproutling (acquired by Mattel) and Rupture (acquired by Electronic Arts).
Carey co-founded Helium with a $1.2 billion valuation and grew the popular gif sharing and creation website, GIPHY, from millions of requests per day to billions per day.
Chris Bruce, co-founder and CEO of BlockJoy, said,
“Through BlockJoy’s unique technology and our focus on blockchain-specific Web 3.0 infrastructure, we can reduce the cost of operating a node even further than a typical cloud provider can.
“We enable our customers to run their own servers in any data center
like back to Web 1.0 but without the headache.”In addition, BlockJoy has developed technology that allows businesses to support new protocols in a few weeks instead of the usual four to six months.
As demonstrated by the collapse of cryptocurrency exchange FTX in early November, the current centralized model for online exchanges does not protect customers. BlockJoy offers customers a more decentralized approach to operating Web 3.0 infrastructure.
Customers have complete control over where they deploy their infrastructure without being tied to high-cost cloud services.
Marc Nijdam, CTO of Nova Labs
“Since moving to BlockJoy, we are now able to run our API node outside of our legacy cloud provider, and we anticipate saving over 60% of our operational costs.
“This partnership has also saved our team hundreds of hours a month by no longer having to manage fires every day. The cost and time saved has made a significant difference to us in our operations, and we are excited to see how far this partnership has taken us.”
Apart from freeing subscribers from these barriers, BlockJoy supports node operators. Today’s leading enterprise node operator
including Blockdaemon, Bison Trails, QuickNode and Alchemy will start to see price pressures from increasing competition in the market.BlockJoy’s decentralized approach can greatly benefit companies like this, as the solution significantly lowers operating costs and streamlines the time needed to support new chains.
Anna Patterson, managing partner of Gradient Ventures, said,
“We are at an inflection point with blockchain technology. Investing in infrastructure development is more important than ever as it will pave the way for entire industries. We believe BlockJoy has the opportunity to become indispensable to the Web 3.0 economy and are excited to support Chris, Sean and their team.”
Six months after launch, BlockJoy is running 1,200 validators for the Helium Network, achieving up to 80 percent cost efficiency. Apart from Helium, BlockJoy’s customers include Binance, Crypto.com, Indodax, Seeed Studio, and Gate.io.
BlockJoy quickly included new chains including Ethereum 2.0, Cosmos, Polygon, Solana, Algorand, and Avalanche.
By the end of the initial beta, BlockJoy will have full push button support for 25 blockchains including those built on so-called ‘layer zero’ chains.
To learn more about BlockJoy and register for their beta version, visit their website.
About BlockJoy
Based in Boston, Massachusetts, BlockJoy helps companies reduce the cost of running a node by up to 80 percent.
Leveraging enterprise node management software, BlockJoy enables customers to deploy and run blockchain nodes on any infrastructure anywhere in the world in a more decentralized manner.
To learn more, please visit the website.
Contact
Merrita Villa, VSC at BlockJoy
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