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

ChainCatcher news, the on-chain AI oracle service Canyon Network, headquartered in New York, announced the completion of a $6 million financing round, with participation from DeData Technologies, DAO Venture, Vinci Labs, and Fission Digital Capital, achieving a valuation of $60 million. The new funds will be used to support the development and launch of the 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.