TechFlow reported on October 18 that Canyon Network, a blockchain AI oracle service, announced it has raised $6 million in funding. The round was participated by DeData Technologies, DAO Venture, Vinci Labs, and Fission Digital Capital, bringing the company's valuation to $60 million. The new capital will support the development and launch of its Onchain AI Oracle to enhance transparency, efficiency, and security for AI-powered blockchain applications.
Canyon has developed an architecture comprising a large network of off-chain 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 rapidly generates verifiable results, ensuring transparency, efficiency, and security for AI-driven blockchain applications.
