On-chain AI oracle service Canyon Network completes $6 million financing, with participation from DAO Venture and others

2024-10-18 16:39:50

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ChainCatcher news, the on-chain AI oracle service Canyon Network based in New York announced the completion of a $6 million funding round, with participation from DeData Technologies, DAO Venture, Vinci Labs, and Fission Digital Capital, reaching a valuation of $60 million. The new funds will be used to support the development and launch of Onchain AI Oracle, enhancing the transparency, efficiency, and security of AI-driven blockchain applications.

Canyon has developed an architecture consisting of a large off-chain network of validators and operators, along with a set of on-chain Solana programs. When a dApp interacts with the Canyon AI Oracle Solana program to request AI inference, the AI Oracle network quickly generates verifiable results, ensuring the transparency, efficiency, and security of AI-driven blockchain applications.

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