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Blockdaemon, an institutional-grade blockchain infrastructure firm for node administration and staking, immediately introduced it has acquired Gem, a cryptocurrency API firm with a fiat-to-crypto on-ramp and a complete commerce information aggregation service for monitoring crypto investments.
As a part of the deal, Blockdaemon will reap the benefits of all of Gem’s flagship merchandise together with its on-ramp resolution, its Join API, its KYC Passport, and extra. The acquisition follows Blockdaemon’s latest Sequence C of $207 million with a post-money valuation of $3.25 billion.
Bringing Extra Peace of Thoughts to Customers
Furthermore, Blockdaemon additionally introduced immediately the rollout of a brand new insurance coverage coverage that protects Blockdaemon clients if Blockdaemon experiences a system failure or safety failure that causes:
- Slashing occasion – the place contractual penalties are imposed or seized by a blockchain community due to a protocol violation based mostly on the provision of Blockdaemon’s companies; or
- Double-signing occasion – the place the validation of two or extra totally different blocks on the identical part of a specific blockchain community leads to legal responsibility.
As a part of the providing, Blockdaemon has designed a claims course of the place it’ll work with the insurance coverage provider to find out the trigger and quantity of loss in a fast, streamlined vogue.
At the moment, Blockdaemon presents connections to over 50 blockchain protocols. Of those, Blockdaemon companies over 25 proof-of-stake networks. With so many protocols underneath administration, Blockdaemon’s primary precedence is to make sure shoppers are completely protected throughout the board.
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