VRRB is a US based blockchain startup which is focused on building a lightweight blockchain consensus algorithm.
Sri Lankan born Sanjay Bandare co-founded VRRB in 2021 with founder Andrew Smith.
VRRB Labs Inc was co-founded by Andrew Smith and Sanjay Bandare in 2021 and together they are powering it to become one of the fastest most secure blockchains in existence. VRRB Labs Inc currently employees 8 highly skilled web3 professionals with plans to expand in the latter part of the year 2023.
VRRB is a startup that is building a new, innovative, computationally lightweight block mining and consensus algorithm known as Proof of Claim. Proof of Claim allows for fast, decentralized, fair validation of transactions and block mining. The founders specify that the lightweight nature of the algorithm as being the driving force behind the chain. They say that launching and running a node will simply be accessible to anyone with a modern computer. Proof of Claim is a consensus algorithm that aims to solve many of the issues currently present with both Proof of Work and Proof of Stake, and is a concept that was worked on by the founders in 2021.
Andrew Smith, CAIA is a two-time founder, a strong motivator and leader. Before starting VRRB, Andrew spent 5 years as the sole engineer and data scientist building out the full stack of machine learning and deep learning models at his first startup. Andrew then began working on VRRB, invented Proof of Claim and single-handedly built the VRRB prototype. Andrew is the founder and CEO of VRRB.
VRRB co-founder and COO Sanjay, comes from the island nation of Sri Lanka off the southern coast of India. He graduated in 2013 and pursed a career in product management in a multinational technology consulting firm, where he served as a lead product manager, developing and creating solutions on multimillion-dollar projects for multiple Fortune 500 clients ranging from Insurance, Healthcare and Telecommunication.
Sanjay’s interest in blockchain began half way into his career when he first learned about Bitcoin and its underlying technology. In 2021, Sanjay met Andrew Smith, on a forum dedicated to entrepreneurs. Andrew was proposing a new form of consensus algorithm and Sanjay says that he “realized it’s potential immediately”. The two founders got together over multiple discussion sessions on video conferencing and started working on completing a prototype from “two different ends of the world” he says.
Sanjay says that they often worked very late into the nights, due to the time difference between the United States and Sri Lanka.
Sanjay currently manages the development of the product platform, team and is also responsible for bringing in best practices from his industry experience.
One of the main areas of focus for VRRB is ease of access to the network, to join and run a node.
“Due to the lightweight nature of the algorithm, launching and running a node will simply be accessible to anyone with a decent computer,” he says. “Proof of Claim is a consensus algorithm that aims to solve many of the issues currently present with both Proof of Work and Proof of Stake.”
The nature of the consensus algorithm is currently kept under wraps and will be published with their updated whitepaper, due in the first quarter of 2023.
The cofounders have also proved skeptics wrong as they were able to build a prototype blockchain platform to showcase to potential investors. This has led to VRRB Labs Inc raising an undisclosed amount from distinguished venture capital firms.
VRRB is setting their sights on completing its live net launch by the third and fourth quarters of 2023. With a highly skilled team of 8 individuals, VRRB Labs is working tirelessly towards achieving this goal. The infusion of capital will be used to grow VRRB’s team and reduce the development timeline.
Follow VRRB Labs on https://twitter.com/VRRBLabs and visit their website on https://www.vrrb.io/
