Blockchain
Fireblocks Emerges From Stealth Mode With $16 Million in Funding to Help Institutions Secure Digital Asset Movement
Fireblocks (www.fireblocks.com), an enterprise platform for securing digital assets in transit, announced today its launch out of stealth mode with $16 million in Series A funding from Cyberstarts, Tenaya Capital, Eight Roads (the proprietary investment arm of Fidelity International), Swisscom Ventures and MState.
Fireblocks’ customers, which count some of the largest institutional digital asset trading operators like Galaxy Digital, Genesis Global Trading and more, use the platform to safeguard the digital assets in its portfolio as it is moved across exchanges, OTCs, counterparties, hot wallets, and custodians. Currently, Fireblocks is integrated with 15 digital asset exchanges and offers support for over 180 cryptocurrencies, tokens, and stablecoins.
More than $3B in digital assets were stolen by hackers over the last 18 months due to private key theft, spoofing, and compromised credentials. Recently, Binance, the largest cryptocurrency exchange in the world lost $40MM in bitcoin due to an insecure hot wallet and compromised API credentials. Founded by Michael Shaulov and Pavel Berengoltz,whose mobile security company Lacoon Mobile Security was acquired by Check Point, and Idan Ofrat, the VP R&D of C4 Security which was acquired by Elbit Systems, Fireblocks aims to eliminate the root cause of digital asset hacks and scams.
“While Blockchain based assets by themselves are cryptographically secure, moving digital assets is a nightmare. After interviewing over 100 institutional customers, including hedge funds, broker-dealers, exchanges, and banks, we concluded that the current process is slow and highly susceptible to cyber attacks and human errors,” said Michael Shaulov, CEO and Co-Founder of Fireblocks. “We built a platform that secures the process and simplifies the movement of funds into one or two steps.”
Joined by top security engineers from Symantec, Trusteer, IBM security and leading cryptography advisor, Prof. Ran Canetti, Fireblocks is introducing the first patent-pending Secure Transfer Environment that works with a Hot Vault system. Together, it enables digital assets to be easily transitioned from any storage solution to be primed for immediate settlement and transfer on the blockchain.
“Moving digital assets 24/7, across the globe, uninterrupted, while meeting all enterprise security requirements is industry changing,” said Ivan Brightly, CISO of Galaxy Digital.” For digital asset trading operators, the Fireblocks platform provides a robust security system for digital assets, whether stored or in transit.
“Sitting as part of the broader Fidelity group, we realize that cybersecurity is crucial in the adoption of blockchain and digital assets,” said Davor Hebel, Partner, Head of Eight Roads Ventures Europe. “We are excited to support the Fireblocks team as it develops a cutting edge technology that will help propel digital assets trading to the next level of evolution, enabling huge improvements in operational efficiencies, security, and trust.”
“Securing Blockchain based assets is one of the key challenges in modern Cybersecurity warfare, and it requires heterogeneous expertise in mathematics, system level programming and years of hands-on Cybersecurity experience,” said Gili Raanan, Partner at Cyberstarts and Sequoia Capital. “The Cyberstarts team is thrilled to partner with Michael, Idan & Pavel, who amazed us with their technology breakthrough to eliminate risk from digital assets management.”
SOURCE Fireblocks
Blockchain
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As the Layer-1 ecosystem is increasingly flooded with inflated performance claims, new research from Steven Pu, Co-Founder of Taraxa, delivers a reality check. Using data from Chainspect, the study evaluates the cost-efficiency of 22 blockchains by analyzing the real-world cost of running a validator node against actual mainnet throughput.
Blockchain performance reports often rely on idealized scenarios with private testnets, specialized hardware, and unrealistic assumptions that inflate transactions-per-second (TPS) numbers. This results in performance claims that look impressive on paper but do not hold up in practice.
Pu’s research introduces a more pragmatic approach—measuring transactions per second achieved on mainnet per dollar spent on a validator node (TPS/$). This simple yet powerful metric directly addresses the distortion in performance figures by shifting the focus from theoretical throughput to cost-adjusted efficiency. By assessing how much real transaction processing power a network provides per dollar spent, this study offers a fair and verifiable way to compare blockchains on a level playing field.
Figures are produced by dividing the observed mainnet throughput by the monthly cost of a single validator node. The goal is to ensure that blockchain developers, investors, and users have access to data that truly reflects network sustainability and scalability.
This research is more than just a comparison—it’s a call to action. For too long, blockchain projects have relied on inflated performance metrics that fail under real-world conditions. By shifting the focus to cost-efficiency and observed mainnet performance, Pu’s study sets a new standard for evaluating blockchain scalability.
Tellingly, the results expose a striking gap between theoretical performance figures and real-world results. Figures show that theoretical throughput is overstated by a staggering average of 20 times when compared to actual mainnet observations. This means that TPS figures, often cited in whitepapers and marketing materials, vastly exceed what is achievable under real-world conditions.
Such a significant discrepancy suggests that developers, investors, and users may base their decisions on numbers that do not hold up outside of a controlled test environment. This calls for a reform in how blockchain performance is reported and evaluated.
“Investors, developers, and users deserve transparency,” explains Pu. “The blockchain industry has long been obsessed with theoretical performance figures, but numbers generated in a lab mean little if they can’t be replicated in real-world conditions.”
“Our research also shows that many networks require expensive hardware just to achieve modest transaction rates, which is neither technically impressive nor decentralized. By focusing on verifiable data from live networks, we can shift the conversation toward meaningful performance metrics that actually impact usability, cost-efficiency, and decentralized adoption.”
Findings also show that only four out of the 22 blockchains achieve a double-digit TPS/cost ratio. This low percentage highlights that most networks require high expenditures to reach modest transaction rates. Many networks fall short when the real cost of running a node is considered. Users and developers face a challenging landscape where performance is not always backed by cost efficiency.
Rather than dismissing other chains, Taraxa calls for more transparent, verifiable and balanced metrics for comparing blockchains. The research is more than just a comparison—it’s a call to action. For too long, blockchain projects have relied on inflated performance metrics that fail under real-world conditions. By shifting the focus to cost-efficiency and observed mainnet performance, Pu’s study sets a new standard for evaluating blockchain scalability.
Overall, the research challenges common industry practices that rely on overly optimistic theoretical metrics. The market often relies on figures generated under ideal conditions that rarely match everyday use.
By basing this study on data from live networks, the Taraxa team provides a more grounded look at blockchain performance. The focus on cost efficiency and real-world conditions helps set a new standard for performance reporting.
The post Taraxa Report Reveals 20X Overestimation In Blockchain Throughput appeared first on News, Events, Advertising Options.
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