In the ever-evolving world of cryptocurrencies and blockchain technology, new projects and protocols are continuously being developed to address existing challenges and push the boundaries of what is possible. Over Protocol is one such project that has recently raised $8 million in funding to develop a decentralized layer 1 blockchain with a focus on providing lightweight full nodes. Let’s dive deeper into this exciting development.

Funding Rounds and Backers:
Over Protocol successfully closed its most recent funding round, raising $8 million. The round was announced on July 21, 2023. Notable backers during this round include DSC Investment, Spring Camp, Schmidt, and Netmarble. With support from these established investors, Over Protocol has a solid financial foundation to fuel its development and drive innovation within the crypto space.

About Over Protocol:
Over Protocol aims to revolutionize the blockchain infrastructure through its layer 1 blockchain based on a protocol called “Ethanos.” The primary focus of Ethanos is to consider only active accounts as valid, allowing full nodes to discard outdated data and operate with less storage requirements. This innovative approach enables Over Protocol to provide lightweight full node functionality, which can be crucial in improving the overall efficiency, scalability, and accessibility of blockchain networks.

One of the standout features of Over Protocol is its emphasis on decentralization. With Ethanos, anyone can run a node and become a validator on their own personal computers at home. This democratic approach empowers individuals to participate in the network’s consensus mechanism, further enhancing the security and reliability of the Over Protocol blockchain.

Over Protocol’s successful completion of an $8 million funding round is a significant milestone for the project and represents a vote of confidence from prominent investors in the crypto industry. The resources garnered from this funding will enable Over Protocol to continue the development and refinement of its layer 1 blockchain, focusing on lightweight full nodes and enhanced decentralization.

As the crypto market continues to evolve, projects like Over Protocol play a crucial role in pushing the boundaries of blockchain technology and opening up new possibilities. With its unique approach to lightweight full nodes and emphasis on decentralization, Over Protocol is poised to make a significant impact on the blockchain infrastructure space.

Disclaimer: This is not financial advice. Cryptocurrency investments are subject to market risks, and readers should do their own research before making any investment decisions.