Naxion Network by Nverse Inc. Secures Investment From Scaleup Ventures
Seoul, Korea South, 14th May 2024 – Naxion Network, a layer 1 blockchain developed by Nverse Inc., announced on May 14th that it has attracted investment from ScaleUp Ventures, a leading technology investment VC based in South Korea.
Since forming its genesis block in March 2021, Naxion Network has operated as a stable layer 1 blockchain without any errors. Naxion specializes in decentralized proof-of-work (PoW) consensus, utilizing its own block formation algorithm and secure node technology to minimize energy consumption for network maintenance. It boasts fast block formation rates averaging every 6 seconds and maintains network gas fees at 1/10000th the level of Ethereum, making it highly competitive.
ScaleUp Ventures, as a South Korea-based VC, focuses its investments on companies po...