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Venom Ventures Fund Invests $5 Million in Everscale to Tackle Web3 Scalability I...

 2 years ago
source link: https://hackernoon.com/venom-ventures-fund-invests-$5-million-in-everscale-to-tackle-web3-scalability-issues
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The Rise of Blockchain-Based VC’s to Spur Adoption in Web3

There is a rise of venture capital firms in the blockchain ecosystem due to the growing interest and potential for blockchain technology. They invest in startups and projects that are developing blockchain solutions, providing funding and support in areas such as strategy and business development, as well as access to networks.

This type of investment plays a crucial role in the growth of blockchain technology by fueling the development and scaling of solutions, offering expertise and resources in areas such as business development and strategy, and attracting more attention and investment from both the public and private sectors. This increased attention and investment can lead to wider adoption of blockchain technology across various industries.

Understanding the Problem of High-Latency and Load-Intensive Computation in Public Blockchain and Why VC’s want to Solve It

Public blockchains face various scaling problems when hosting high-scale Web3 and other load-intensive projects. These include limited transaction processing capacity, high latency, high costs, scalability bottlenecks, and security concerns. The limited transaction processing capacity can result in slow transaction processing times and network congestion. At the same time, high latency can be a significant issue for high-scale Web3 and other load-intensive projects.

Additionally, the high computational and storage requirements of the network can make running these projects in public blockchains costly. Scalability bottlenecks can also arise due to the centralization of nodes, network congestion, and limited processing capacity. Furthermore, public blockchains are vulnerable to security breaches, which can put high-scale Web3 and other load-intensive projects at risk. These scaling problems can limit the ability of public blockchains to handle these types of projects, hindering the wider adoption of blockchain technology. To overcome these challenges, new scaling solutions, such as sharding, are being developed and implemented to improve the efficiency and scalability of public blockchains.

Why Venom Ventures Fund is Investing $5 Million in Everscale: A Layer-2 Scaling Solution

Venom Ventures Fund, a Web3 and blockchain innovation fund managed by Abu Dhabi-based investment firm Iceberg Capital Limited, has entered into a strategic partnership with Everscale. This leading blockchain platform is focused on solving scalability issues in the Web3 industry. As part of this partnership, Venom Ventures Fund will invest $5 million into Everscale in stages based on the progress and cooperation indicators.

Vested Interest Disclosure: The author is an independent contributor publishing via our brand-as-author program. Be it through direct compensation, media partnerships, or networking, the author has a vested interest in the company/ies mentioned in this story. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR

The investment will help Everscale further expand its development teams and boost the number of projects, building on its success in the past two years. Everscale has been making great strides in expanding its reach and integrating its technology solutions in Asian countries, as well as building a strong community around its platform. Its innovative sharding technology allows it to efficiently adapt to varying workloads, making it a practical solution for creating large-scale Web3 and other types of applications. This will help Venom Ventures Fund to scale its Venom blockchain and provide solutions for CBDCs and payment infrastructure development.

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Image credits: David Rodrigo.


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