QuickNode Raises $60M Series B – Web3 Infrastructure

Web3 Builder QuickNode Closes $60M Series B Round, Led By 10T Holdings

Miami-Based QuickNode, A Prominent Web3 Infrastructure Platform, Has Successfully Secured $60 Million In A Series B Funding Round. This Substantial capital Injection Propels The Company’s valuation To $800 Million, Bringing It Closer To Achieving Unicorn Status.

Funding Round Details

the Series B Round Was Spearheaded By 10T Holdings, A Leading Equity Fund Focused On Digital Assets. Several Other prominent Investors Also Participated, Including Tiger Global, Seven Seven Six, SoftBank, Protocol Labs, And QED.

This Funding Round Follows A $35 Million Series A Raise In October 2021. As Then, quicknode Has Experienced Rapid Growth, Expanding Its Team By 300% And Its User Base By 400% In 2022.

Strategic Growth Initiatives

QuickNode Plans To Allocate The Newly Acquired Capital Towards Several Key strategic Initiatives:

• Global Expansion: accelerating Its Reach Into New Markets.
• Talent Acquisition: Doubling down On Global Hiring Efforts.
• Community Engagement: Hosting Community-Driven Events And Workshops.

QuickNode’s Web3 Infrastructure

QuickNode’s Blockchain Development Tools Are Designed To Support A Wide Array Of Web3 Protocols. These Include:

• Ethereum
• Bitcoin
• Polygon
• BNB Chain
• solana
• Fantom
• Celo
• NEAR
• xDAI

The Platform Aims To Simplify the Development Process For Web3 Applications, Providing Developers With Robust And Scalable Infrastructure.

Resilience Amidst Market Volatility

Co-Founded In 2017 By Alex Nabutovsky, Dmitry Shklovsky, Auston Bunsen, and Manuel kreutz, QuickNode Demonstrated Resilience Throughout 2022. despite The Significant Downturn In The Broader Cryptocurrency Market, Which Led To The Collapse Of Several Crypto-Focused Companies, QuickNode Continued To Experience Growth.

The Rise of Web3 Infrastructure

Web3 Infrastructure Platforms Like QuickNode Are Becoming Increasingly Vital To The Growth Of The Decentralized Web. According To A Report By Chainalysis, The Demand For Scalable And Reliable Blockchain infrastructure Is Expected To Grow Exponentially Over The Next few Years, Driven By The Increasing Adoption Of Decentralized Applications (dApps) And The metaverse.

In Fact, a recent study by MarketsandMarkets projects the blockchain as a service (BaaS) market, in which QuickNode operates, to reach $24.9 billion by 2027.

Did You Know? The Ethereum network – one of the blockchains supported by QuickNode – completed its Merge upgrade in September 2022, transitioning to a proof-of-stake consensus mechanism and significantly reducing its energy consumption.

QuickNode’s Competitive Advantage

QuickNode Differentiates Itself Through Its Multi-Chain Support,Developer-Pleasant Tools,And Commitment To Reliability. Here’s A comparison With Some Of Its Competitors:

Platform	Supported Chains	Key Features
QuickNode	16+ (Ethereum, Bitcoin, Polygon, etc.)	multi-Chain Support, Developer Tools, Global Infrastructure
Infura	Ethereum, IPFS	Ethereum API Access, Scalable Infrastructure
Alchemy	Ethereum, Polygon	Developer Platform, Enhanced Monitoring, and Analytics

Pro Tip: When selecting a Web3 infrastructure provider, consider factors such as the number of supported chains, the availability of developer tools, the platform’s uptime record, and the pricing model.

Future Outlook

With The New Capital Injection, QuickNode Is Well-Positioned To Further Strengthen Its Position as A Leading Web3 infrastructure Provider. the Company’s Focus On Global Expansion, Talent Acquisition, and Community Engagement Will Likely Drive Continued Growth In The Coming Years.

As The Web3 Ecosystem Continues To Evolve, Reliable Infrastructure Will Be Essential For The Success Of Decentralized Applications And The Broader Blockchain Industry.

The Enduring Importance of Web3 Infrastructure

Web3 infrastructure platforms provide the backbone for decentralized applications (dApps) and blockchain networks. They offer essential services such as node management, API access, and developer tools. These services enable developers to build, deploy, and scale their dApps more efficiently.

Key Benefits of Using Web3 Infrastructure Platforms:

• Reduced Development Costs: Pre-built tools and services minimize the need for custom infrastructure.
• Improved Scalability: Scalable infrastructure ensures dApps can handle increased user demand.
• Enhanced Reliability: Robust infrastructure minimizes downtime and ensures consistent performance.
• Faster Time-to-Market: Streamlined development processes accelerate the launch of new dApps.

Frequently Asked Questions (FAQ)

1. What is QuickNode?

   QuickNode is a Web3 platform that provides tools and infrastructure to accelerate blockchain adoption.

2. How much funding did QuickNode raise in its Series B round?

   QuickNode raised $60 million in its Series B funding round.

3. Who led the Series B funding round for QuickNode?

   The Series B funding round was led by 10T Holdings, a digital assets-focused equity fund.

4. What will QuickNode use the new funding for?

   QuickNode plans to use the funding to fuel its global expansion, increase hiring, and host community-driven events and workshops.

5. Which blockchain protocols does QuickNode support?

   QuickNode supports 16 notable Web3 protocols, including Ethereum, Bitcoin, Polygon, BNB Chain, Solana, Fantom, Celo, NEAR, and xDAI.

What are your thoughts on QuickNode’s latest funding round? How do you see Web3 infrastructure evolving in the future? Share your insights in the comments below!

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quicknode Launches $65M Accelerator for Rollup Projects: Fueling Web3’s Future

QuickNode,a leading Web3 infrastructure provider,is making a meaningful move too support the burgeoning rollup ecosystem.The company has unveiled a $65 million accelerator program dedicated to funding and assisting rollup projects. This initiative underscores QuickNode’s commitment to fostering innovation and building a robust infrastructure for the future of decentralized applications (dApps) and Web3.

What are Rollups and Why Does it Matter?

Understanding Rollup Technology

Rollups are a critical scaling solution for blockchain technology. They execute transactions off-chain and then post the transaction data to the main blockchain (e.g., Ethereum), significantly increasing transaction throughput and reducing gas fees compared to customary on-chain transactions.Think of them as a more efficient way to process information, similar to how data compression works.

The Impact on Web3 Advancement

By supporting rollup technology,QuickNode is essentially boosting the scalability and efficiency of Web3 applications. This will lead to:

• faster Transactions: Rollups dramatically reduce transaction confirmation times.
• Lower Costs: Users will experience lower gas fees, making dApps more accessible.
• Enhanced Scalability: Rollups allow blockchains to process a far greater number of transactions per second (TPS). This is essential for broader adoption.

QuickNode’s Role in Web3 Infrastructure

A Backbone for Blockchain Innovation

Since 2017, QuickNode has served as a critical infrastructure provider, supporting thousands of innovators in the Web3 space. Their infrastructure facilitates the building and scaling of on-chain applications, offering robust support for over 60 blockchains.

Key Features and Benefits

QuickNode offers a range of services designed to streamline Web3 development. These include:

• Node Hosting: Reliable and scalable node infrastructure.
• API Access: Easy access to blockchain data and functionalities.
• Developer Tools: Resources to simplify the development processes.
• 99.99% Uptime: Industry-leading reliability.

The $65 Million Accelerator: Details and Implications

The $65 million accelerator program will strategically allocate funds to drive innovation within the rollup ecosystem. More information on what projects get selected will be released soon.

Accelerator Feature	Benefit to Projects
Funding	Financial resources to support project development.
Technical Support	Guidance and expertise from QuickNode’s team.
Network Access	Integration with QuickNode’s robust infrastructure.

Expected Outcomes

This accelerator program is poised to have a significant impact.

1. Increased Rollup Adoption: More developers will be able to build on rollup chains.
2. Innovation: The funding may foster new advancements in blockchain technology.
3. Growth of Web3: QuickNode helps the overall expansion and evolution of the decentralized web.

Why QuickNode? An Industry Leader

With it’s extensive experience and commitment to providing a reliable Web3 infrastructure QuickNode is uniquely positioned to lead and support the growth of blockchain and Web3.