{"id":131284,"date":"2023-01-18T07:34:06","date_gmt":"2023-01-18T07:34:06","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=131284"},"modified":"2023-01-18T11:07:58","modified_gmt":"2023-01-18T11:07:58","slug":"obol-labs-secures-12-5m-to-build-dvt-on-ethereum-blockchain","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/obol-labs-secures-12-5m-to-build-dvt-on-ethereum-blockchain\/","title":{"rendered":"Obol Labs Secures $12.5M to Build DVT on Ethereum (ETH) Blockchain"},"content":{"rendered":"<p style=\"text-align: justify\"><strong>Obol Labs<\/strong>, a research and software development firm focused on <a href=\"https:\/\/crypto-economy.com\/what-is-ethereum\/\" target=\"_blank\" rel=\"noopener\"><strong>Ethereum<\/strong><\/a> and other Proof of Stake (PoS) blockchain networks, has raised <strong>$12.5 million<\/strong> in a Series A funding round. The fresh capital will help Obol to build out <strong>\u201cDecentralized Validator Technology (DVT)\u201d<\/strong> on Ethereum.<!--more--><\/p>\n<p style=\"text-align: justify\">The cryptocurrency market has experienced an impressive uptick following the brutal drawdown of 2022. Bitcoin (BTC), Ethereum (ETH) along with other major tokens have performed robustly since the onset of the New Year. It is not just digital tokens, but non-fungible tokens along with decentralized finance (DeFi) activity have also increased. <strong>Experts anticipate other sectors including Web3 gaming and metaverse will witness a substantial push.<\/strong> Although the aftershocks from last year may continue to reverberate in the short term, the second half could see a recovery.<\/p>\n<h2 style=\"text-align: justify\">Fresh Funding to Make Pos Blockchains More Secure<\/h2>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">We&#39;re happy to announce that we&#39;ve raised a $12.5M Series A led by <a href=\"https:\/\/twitter.com\/PanteraCapital?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@PanteraCapital<\/a> and <a href=\"https:\/\/twitter.com\/archetypevc?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@archetypevc<\/a> to accelerate our journey of scaling &amp; decentralizing PoS networks!!<\/p>\n<p>Some details on why we&#39;re excited \ud83c\udf89\ud83e\uddf5<a href=\"https:\/\/twitter.com\/hashtag\/RunDVT?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#RunDVT<\/a><a href=\"https:\/\/t.co\/56QgZq7ygU\" target=\"_blank\">https:\/\/t.co\/56QgZq7ygU<\/a> <a href=\"https:\/\/t.co\/60xFdBkFaX\" target=\"_blank\">pic.twitter.com\/60xFdBkFaX<\/a><\/p>\n<p>&mdash; Obol Labs (@ObolNetwork) <a href=\"https:\/\/twitter.com\/ObolNetwork\/status\/1615385163218948096?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">January 17, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">In the latest development, Obol Labs\u2019 announced the company has closed a $12.5 million venture capital funding round to make Ethereum along with other PoS blockchains<strong> more secure, resellient and decentralized. <\/strong>\u00a0The company plans to build out decentralized validator technology (DVT), a kind of technology that it believes will solve some of the biggest loopholes for Ethereum\u2019s new validator class.<\/p>\n<p style=\"text-align: justify\">According to the official <strong><a href=\"https:\/\/www.globenewswire.com\/news-release\/2023\/01\/17\/2590190\/0\/en\/Obol-Labs-Raises-12-5M-Series-A-Funding-to-Make-Proof-of-Stake-Blockchains-More-Secure.html#:~:text=NEW%20YORK%2C%20Jan.%2017%2C,million%20Series%20A%20financing%20round.\" target=\"_blank\" rel=\"noopener\">blogpost<\/a>,<\/strong> the funding round included participation from VC heavyweights including Pantera Capital and Archetype, who co-led the series A round. Other participants include BlockTower, Nascent, Placeholder, Spartan, and IEX, and follow-on investment from Coinbase Ventures and Ethereal Ventures.\u00a0As of today, Obol Labs has raised a total of <strong>$19 million<\/strong> to develop the DVT technology in order to decentralize and secure blockchain staking.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-131285 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2023\/01\/1-11-e1674022476103.jpg\" alt=\"Obol Labs Secures $12.5M to Build DVT on Ethereum Blockchain\" width=\"800\" height=\"319\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/01\/1-11-e1674022476103.jpg 800w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/01\/1-11-e1674022476103-300x120.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2023\/01\/1-11-e1674022476103-768x306.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<h2 style=\"text-align: justify\">What is DVT?<\/h2>\n<p style=\"text-align: justify\">The blogpost stated, <strong>DVT is a technology primitive that allows an Ethereum Proof-of-Stake validator to be run simultaneously on more than one machine.<\/strong> Its primary objective is to solve the issue of single points of failure in staking infrastructure.<\/p>\n<p style=\"text-align: justify\">In addition, this technology allows network validators of any magnitude to increase resilience, distribution of stake, and security on the network. Moreover, DVT is an important tool for Web3 scalability which will ensure more decentralization. Obol wrote,<\/p>\n<p style=\"text-align: center\"><em>\u201cDVT is a technology primitive that allows an Ethereum Proof-of-Stake validator to be run simultaneously on more than one node or machine. The major breakthrough is the ability to split up a single validator key, making it possible for a group of people to share validation rights of an Ethereum validator.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Obol Labs, a research and software development firm focused on Ethereum and other Proof of Stake (PoS) blockchain networks, has raised $12.5 million in a Series A funding round. The fresh capital will help Obol to build out \u201cDecentralized Validator Technology (DVT)\u201d on Ethereum.<\/p>\n","protected":false},"author":21,"featured_media":131301,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[4679,5025,5453],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/131284"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=131284"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/131284\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/131301"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=131284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=131284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=131284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}