Unmarshal Announces $2.6 Million Seed Funding Round From Number Of Crypto Industry Investors
Unmarshal Announces $2.6 Million Seed Funding Round From Number Of Crypto Industry Investors
March 22, 2021
Unmarshal Announces $2.6 Million Seed Funding Round From Number Of Crypto Industry Investors
Unmarshal Announces $2.6 Million Seed Funding Round From Number Of Crypto Industry Investors
March 22, 2021

Unmarshal, a new project building a blockchain data indexing solution, announced a $2.6 million seed funding round from a number of crypto industry investors.

It has been reported that venture funds that participated in Unmarshal’s round include Woodstock, Black Edge Capital, Genesis Block Ventures, NGC Ventures, AU21, Spark Ventures, BitMax, and some others.

However, the round was also joined by individual investors like Ravindra Kumar and Philip Arthur Moore from Frontier; Sandeep Nailwal, co-founder of Polygon; Aniketh Jindal; Danish Chaudhari, and others.

The report said that Unmarshal is building a multichain data indexing network that would help offer structured blockchain data for industry participants. The network supports Ethereum, Binance Smart Chain, Elrond, Polkadot, and Substrate-based chains.

The team expects to roll out support for layer-two networks through Polygon, formerly known as Matic.

Likewise, data infrastructure projects have achieved a significant level of popularity and use, spearheaded by The Graph protocol.

Manohara Kolagondanahalli, the co-founder of Unmarshal, said:

“Unmarshal is a complete end to end data network. We serve customised data needs for clients without asking them to code. Where The Graph needs developers to build subgraphs, we can provide more generic data such as wallet balance, transaction history for any address etc.” 

Though some of the data can be obtained from free APIs, Kolagondanahalli believes that the data is insufficient.

ALSO READ :  Indian Startup Smart Sight Innovation Develops Blockchain-Based App For Vehicle Inspection

He said:

“APIs provided by blockchain are block specific or state specific. It will be difficult to answer questions like what are the tokens owned by an address and what is their worth.”

Unmarshal will also feature a token that will be embedded in the ecosystem.

Kolagondanahalli explained:

“We will have a decentralized network where we onboard indexers, decoders, validators and delegators.”

Potential users of the Unmarshal data include all industry participants, from decentralized application projects to exchanges and trading firms. The data can be delivered through a variety of mediums like push notifications, WebSocket or specific dashboards. 

He added:

“We can work with oracles or build our own oracles to provide the data for smart contracts. You can build a block explorer with Unmarshal.” 

Thus, compared with competitors like The Graph or DuneAnalytics, which require using elaborate query languages to structure data, this may be an attractive proposition for certain uses.

Source: Cointelegraph


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Report: Ethereum Can Go To $10,000 In 2021

Report: Ethereum Can Go To $10,000 In 2021

A report by professional trader Scott Melker said that Ethereum can go to $10,000 in 2021 and can overshadow Bitcoin. It has been reported that Melker sees this period of Bitcoin’s price consolidation as particularly...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.