Press Release
PRICE RELEASE Algoracle has recently announced the close of its seed round for $1.5 million (USD) to help accelerate the development and launch of Algorand’s native decentralized oracle network.
Algoracle’s seed round was led by Capital without bordersWith major contributions from The Algorand Foundation, Valhalla CapitalAnd Big Brain HoldingsStrategic investors round out the package Xpand Capital, Parea Capital, OrcaDAO, GMI CapitalAnd EXA Finance. This seed round was a great success thanks to all the organizations that supported it. The community loved the $1.5million raised.
“We are excited to back Algoracle and their vision of bringing data on-chain in a decentralized fashion. This will help developers to build more powerful and sophisticated applications and smart contracts, enabling innovative and disruptive new use cases on top of the Algorand blockchain” said David Garcia, CEO and Managing Partner of Borderless.
Algoracle
AlgoracleIt is a distributed oracle network linking the Algorand Blockchain to the real world. Algorand’s smart contracts can use the feed contract for value to get data. In the next months, Algoracle plans to launch sports, weather, and cryptocurrencies feeds.
Algoracle also uses a network feed provider and noderunners to provide feeds for smart contracts in order to guarantee decentralization. Currently, institutions-grade providers like AmberData, Brave New Coin and CryptoCompare provide Cryptocurrency prices data for the testnet app. Future goals will include adding more feeds like Sports, Weather and NFT prices, as well as off-chain computing capabilities, before the mainnet launches.
Check out this site for more information about Algoracle official websiteAlong with the Twitter Discord channels.
Algorand
Algorand, a PPoS blockchain, accelerates decentralized finance convergence by enabling next-generation financial products and protocols and the exchange of value. Founded by Silvio Michali, the recipient of the Turing Award (in computer science), the Gödel Prize (in theoretical computer science), and the RSA prize (in cryptography), the blockchain has managed to find an approach that solves the blockchain trilemma without any compromise. Algorand launched in 2019 and has not experienced any downtime.
Visit the for more information about Algorand official website TwitterAnd Medium.
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