.ObolNetwork has raised $12.5M to fund its bet that distributed validator technology (DVT) is the future for Ethereum validators. skesslr reports
, its new system for processing transactions, it handed control of the network from crypto miners to validators.
Among those on board with Obol Labs’ vision are crypto VC stalwarts Pantera Capital and Archetype, who co-led the series A round. Led by alums of Ethereum research and development firm ConsenSys, Obol Labs has now raised a total of $19 million. Validators, which earn rewards for operating the network of nodes that keeps Ethereum up and running, face challenges ranging from high capital requirements and technical complexity ., including crypto exchanges like Coinbase and Binance. Also among the largest validators is the decentralized autonomous organization Lido – a kind of validator collective that pools user funds and distributes them across a network of professional node operators.
Obol is not the only company taking a swing at DVT. The concept – far from unique to any specific company – is included in the
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