[PRESS RELEASE – Boston, MA, 2nd February 2023]
Helium Co-Founder and Early Founding Team Member Launches White Label Blockchain Node-as-a-Service Startup to Cut Operational Costs by Up to 80 Percent for Enterprises Running Nodes for Staking and API-as-a-Service .
BlockJoy is building the Web3 version of AWS on a decentralized infrastructure, while also providing a cloud-like experience.
The company’s proprietary technology provides clients with a simple point-and-click user interface (UI) to run blockchains on any infrastructure.
BlockJoy, the company that provides node-as-a-service white-label blockchain for node hosting companies, today announced the successful closing of nearly $11 million in Seed + Series A blended funding from Gradient Ventures, Draper Dragon, Dragon Roark, Active Capital, Borderless HNT and Renegade Ventures, among others. The funding will be used to support the launch of BlockVisor, the company’s proprietary node management software, which is now open for beta enrollment. BlockJoy enables clients to deploy and run decentralized blockchain nodes on any infrastructure while maintaining a cloud-like experience with up to 80 percent cost reduction over traditional cloud providers.
Created to combat the lack of decentralized infrastructure suitable for blockchains, BlockJoy provides a node management solution that is two to three times less expensive than traditional cloud providers. Businesses can deploy and manage blockchains, nodes, validators, and ETL (extract, transform, load) with the click of a button, anywhere in the world.
BlockJoy started as an engagement service side project for the friends and family of CEO Chris Bruce and CTO Sean Carey. However, the company took off quickly once the founders began leveraging their platform to run enterprise nodes. Prior to founding BlockJoy, Bruce was part of the founding team of four VC-backed companies with two exits, including Lumeo, Diversion, Sproutling (acquired by Mattel), and Rupture (acquired by Electronic Arts). Carey co-founded Helium at a $1.2 billion valuation and scaled the popular GIF-making and sharing website GIPHY from millions of requests a day to billions of requests a day.
“Through BlockJoy’s unique technology and our focus on blockchain-specific Web3 infrastructure, we are able to reduce node running costs more than your typical cloud provider can,” said Chris Bruce, co-founder and CEO of BlockJoy. “We’re making it possible for our customers to run their own servers in any data center, much like it was in the days of web 1.0, but without the headaches.”
In addition, BlockJoy has developed technologies that allow companies to support new protocols in weeks instead of the usual four to six months.
As the collapse of the FTX cryptocurrency exchange in early November demonstrated, the current centralized models for online exchanges do not protect clients. BlockJoy offers clients a more decentralized approach to operating the Web3 infrastructure. Customers have full control over where they deploy their infrastructure without being limited to high-cost cloud services.
“Since switching to BlockJoy, we are now able to run our API nodes off of legacy cloud providers and anticipate saving over 60% of our operating costs,” said Marc Nijdam, CTO, Nova Labs. “This partnership has also saved our team hundreds of hours a month by not having to handle the daily fires. The cost and time saved have already made a significant difference for us in our operations, and we are excited to see how far this partnership takes us.”
In addition to freeing clients from these hurdles, BlockJoy supports node operators. Today’s top enterprise node operators, including Blockdaemon, Bison Trails, QuickNode, and Alchemy, will begin to see pricing pressure from increased market competition. BlockJoy’s decentralized approach can greatly benefit companies like these, as the solution significantly reduces operational costs and streamlines the time it takes to support new chains.
“We are at an inflection point with blockchain technology. Investing in the development of its infrastructure is more important than ever because it will pave the way for the entire industry,” said Anna Patterson, Managing Partner at Gradient Ventures. “We believe that BlockJoy has the opportunity to become indispensable to the Web3 economy and we are excited to support Chris, Sean and their team.”
Six months after its launch, BlockJoy was running 1,200 validators for the Helium Network, with profitability of up to 80 percent. In addition to Helium, BlockJoy’s clients include Binance, Crypto.com, Indodax, Seeed Studio, and Gate.io. BlockJoy is rapidly onboarding new chains including Ethereum 2, Cosmos, Polygon, Solana, Algorand, and Avalanche. By the end of its initial beta run, BlockJoy will have full button support for 25 blockchains, including those built on top of so-called Layer 0 chains.
To learn more about BlockJoy and to sign up for its beta, visit: https://blockjoy.com/
Headquartered in Boston, Massachusetts, BlockJoy is helping companies cut costs to run nodes by up to 80 percent. Leveraging the company’s node management software, BlockJoy enables clients to deploy and run blockchain nodes on any infrastructure anywhere in the world in a more decentralized manner.
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This post BlockJoy secures $11 million from Gradient Ventures, Draper Dragon to launch decentralized blockchain operations
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