About Blockdaemon
Blockdaemon was founded in 2018 by Konstantin Richter, based on the observation that running the underlying node infrastructure required to interact with, validate transactions on, or participate in the consensus mechanisms of blockchain networks is technically demanding and increasingly fragmented across dozens of different blockchain protocols, each with its own software requirements, security considerations, and operational quirks, making it impractical for most institutions and even many crypto-native companies to run this infrastructure reliably on their own across every network they might need to support.
Blockdaemon's platform provides managed node infrastructure across a very large number of blockchain protocols, letting institutional customers, including crypto exchanges, custodians, asset managers, and traditional financial institutions expanding into digital assets, access reliable blockchain connectivity without operating that infrastructure themselves. A significant part of the company's business is focused on staking, the process by which participants lock up cryptocurrency to help validate transactions and secure proof-of-stake blockchain networks such as Ethereum, in exchange for earning staking rewards; Blockdaemon provides the institutional-grade infrastructure needed to participate in staking securely and at scale, an increasingly important business line as more large financial institutions have begun offering crypto staking products to their own clients following Ethereum's shift to a proof-of-stake consensus model. The company has positioned itself as foundational, protocol-agnostic infrastructure sitting underneath a wide range of institutional crypto products and services, rather than building its own consumer-facing exchange or wallet, avoiding direct competition with many of its own institutional customers. Blockdaemon has raised substantial venture funding from investors including Sapphire Ventures, Matrix Capital Management, and Tiger Global, reaching a valuation exceeding $3 billion, and it competes with other institutional blockchain infrastructure and staking providers such as Figment and Coinbase's institutional staking services.
