Seoul, Korea South, 14th Might 2024 – Naxion Community, a layer 1 blockchain developed by Nverse Inc., introduced on Might 14th that it has attracted funding from ScaleUp Ventures, a number one expertise funding VC based mostly in South Korea.
Since forming its genesis block in March 2021, Naxion Community has operated as a steady layer 1 blockchain with none errors. Naxion focuses on decentralized proof-of-work (PoW) consensus, using its personal block formation algorithm and safe node expertise to attenuate power consumption for community upkeep. It boasts quick block formation charges averaging each 6 seconds and maintains community gasoline charges at 1/10000th the extent of Ethereum, making it extremely aggressive.
ScaleUp Ventures, as a South Korea-based VC, focuses its investments on firms possessing market-leading applied sciences akin to AI structure design, fintech, straightforward fee options, safety options, and AR options. With this funding in Naxion Community, ScaleUp Ventures goals to foster collaboration and synergy with present portfolio firms and plans to proceed investing in firms with blockchain utility applied sciences like NFTs and DeFi based mostly on its layer 1 funding expertise.
The dimensions of this funding has been determined to stay undisclosed by mutual settlement. Naxion Community plans to make the most of this funding for tasks together with Naxion-based WEB3.0 Video games, ecosystem improvement, group activation, and carbon discount tasks.
Charles Lee, Accomplice at ScaleUp Ventures who led this funding, acknowledged, “Naxion’s strength lies in its adherence to the fundamentals of blockchain, focusing on decentralization and security unlike recently emerged networks. We expect Naxion to enhance the data security of fintech companies ScaleUp Ventures has invested in and greatly assist content companies in transitioning to web3.0.”
Daniel So, Founding father of Naxion, expressed, “ScaleUp Ventures brings extensive experience in technology investment, making them a critical partner for Naxion’s growth. Our goal is to collaborate with tech companies to foster a mainstream web3.0 ecosystem and establish ourselves as the safest blockchain in the market.”
Be taught extra at: https://www.naxion.internet/
Media Contact
Group: Naxion Community
Contact Particular person: Yunkwon So
Web site: https://www.naxion.internet/
Electronic mail: Ship Electronic mail
Metropolis: Seoul
Nation: Korea South
Launch Id: 14052412081
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