SendBlocks Debuts with Major Backing to Enhance Blockchain Data Management

By Sunil Sonkar
2 Min Read
SendBlocks Debuts with Major Backing to Enhance Blockchain Data Management

Blockchain technology is gradually becoming more accessible. It is now easily manageable and thanks to pioneering startups like SendBlocks. The company lately announced securing $8.2 million in seed funding led by Castle Island Ventures. The other notable investors were Pitango, Illuminate Financial, Laser Digital (Nomura), Starkware and several ecosystem leaders. The new capital highlights the confidence of investors in the potential of the company to transform blockchain data management.

Advertisement

SendBlocks is mainly focusing on simplifying the process of accessing blockchain data. It is set to make things very straightforward. Its platform is highly customizable and allows users to define their specific data needs.

SendBlocks co-founder and CEO Itay Shrem said that they want to create a reality in which any developer can access any blockchain data without the need of an entire data team. They don’t have to spend thousands of dollars per data. The main vision is to streamline operations and cost saving through its innovative solution.

Challenges of data management in the blockchain ecosystem are different from those witnessed in traditional web development. Backend engineers directly build and access databases in web2. Blockchain itself serves as the backend in web3. It is accessed through Remote Procedure Call (RPC) mechanisms.

The shift presents two significant challenges. Flexibility is crucial as each organization has its own unique data needs and processes. Organizations often spend considerable resources developing in-house solutions to manage their data. Moreover, high-throughput blockchains process numerous transactions in short periods. It requires complex indexers to continually query and monitor data. Such services often struggle with performance.

SendBlocks addresses the challenges head-on. Co-founder & CTO Michael Kellner highlighted the importance of scalable infrastructure and emphasizing that starting out in web3 should not necessitate an extensive data team. The approach scales the blockchain and also ensures the entire stack supports the next generation of applications.

Share This Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *