SendBlocks Comes Out of Stealth with $8.2 Million in Seed Funding to Streamline Blockchain Knowledge Administration

Tel Aviv, Israel, July 2nd, 2024, Chainwire

SendBlocks, a pioneering startup in blockchain knowledge administration, introduced as we speak that it’s popping out of stealth mode with $8.2 million in seed funding led by Fortress Island Ventures with a number of different institutional buyers together with Pitango, Illuminate Monetary, Laser Digital (Nomura), Starkware and notable ecosystem leaders.

SendBlocks makes accessing blockchain knowledge easy. The SendBlocks platform is totally customizable permitting blockchain enterprises, ecosystems, protocols and functions to outline the info that issues to them, and go away it to SendBlocks to sift by the blockchain to search out their nuggets.

As excessive throughput blockchains emerge, many new use instances for blockchain-based functions have gotten evident thanks to raised usability and cheaper transaction value. “On the finish of the day we wish to create a actuality by which any developer can entry any blockchain knowledge they need, with no need a whole knowledge staff or spending hundreds of {dollars} per knowledge want to take action,” shares Itay Shrem, Co-founder & CEO.

Current shoppers (that may be disclosed) embody Bancor and SphereX who’ve already benefited from SendBlocks’ progressive answer, experiencing streamlined operations and value financial savings. With increasingly more excessive throughput blockchains rising, SendBlocks is positioning itself to change into the main knowledge administration platform.

The challenges with knowledge administration in web3

Whereas in conventional web2 improvement, backend engineers construct and entry databases straight; within the blockchain ecosystem, the blockchain itself acts because the backend, accessed by RPC (NYSE:) calls. Leading to two main challenges:

“Consider when Taylor Swift tickets go on sale and TicketMaster must deal with thousands and thousands of requests concurrently, the location typically crashes. That’s as a result of the backend isn’t optimized for The Swifties,” explains Shrem. “The technological problem of information administration in excessive throughput blockchains is just like the transition from supporting smaller, much less identified, artist ticket gross sales to with the ability to assist Taylor Swift demand, however on a regular basis” he provides.

Enter SendBlocks

“We consider that beginning out in web3 should not necessitate an in depth knowledge staff and that infrastructure prices ought to align with the appliance’s consumer base moderately than the blockchain’s throughput,” says Michael Kellner, Co-founder & CTO. “Merley scaling the blockchain is not ample; your entire stack have to be scalable to assist the following technology of functions,” he provides.

SendBlocks’ progressive strategy addresses these challenges head-on. Shrem and Kellner, having spent over a decade every in Talpiot are actually leveraging their expertise in constructing safe and resilient infrastructures.

SendBlocks goals to considerably cut back backend and indexing efforts for blockchain builders whereas sustaining flexibility and robustness by consolidating the standard indexer/RPC course of right into a single, user-friendly platform.

Some easy use instances of the SendBlocks platform have already been a recreation changer for shoppers, akin to versatile historic knowledge entry and totally customized notifications.

By offering prospects entry to something taking place on-chain, SendBlocks helps builders save billions of API queries, leading to leaner knowledge groups, whatever the underlying blockchain.

“Present knowledge administration options and indexers simply don’t assist quick blockchains,” explains Shrem, “we’re constructing with scale and ease in thoughts to make sure ecosystems get pleasure from engagement and retention” he provides.

“By offering enterprises, ecosystems and protocols quick access to on-chain knowledge, SendBlocks permits prospects to save lots of tens of hundreds of {dollars} per thirty days in improvement prices and cut back time to market from months to weeks,” says Sean Decide, Basic Supervisor of Fortress Island Ventures which led the spherical. “Itay and Michael’s cyber-security and cryptographic backgrounds make them the right duo to ship on their imaginative and prescient to alter the best way companies handle their blockchain knowledge” he provides.

With the funds SendBlocks will proceed to develop out it’s R&D staff to assist current and future shoppers in addition to scale its advertising and marketing and gross sales efforts to draw prime protocols and ecosystems.

Shrem and Kellner lead a powerful staff of 9, all coming from infamous web2 enterprises akin to Microsoft (NASDAQ:), AWS and Talpiot intelligence unit in addition to web3 orgs akin to Bancor and Algorand. Kellner holds a Masters in post-quantum cryptography and Shrem makes a speciality of community coding and safety.

About SendBlocks

SendBlocks is a pioneering blockchain knowledge administration startup that simplifies entry to blockchain knowledge by a completely customizable platform. Rising from stealth mode with $8.2 million in seed funding led by Fortress Island Ventures, SendBlocks addresses the challenges of information flexibility and scalability in high-throughput blockchains. By enabling enterprises, ecosystems, and functions to outline and entry the info they want, SendBlocks eliminates the necessity for intensive in-house knowledge groups or costly, outsourced, options per knowledge level.

ContactCEOOmri HurwitzOmri Hurwitz Mediaomri@omrihurwitz.com

This text was initially revealed on Chainwire